With winter dragging for what has felt like forever, one can’t be blamed for daydreaming about sunny skies, beach outings – and perhaps even a getaway?
But if the thought of spending money on a vacation this summer has stressed you, don’t be.
With a few smart budgeting habits and the right savings tools from Service Credit Union, you can start building your summer fund today.
Start With a Clear Summer Goal
Begin by estimating how much you’ll need. Think beyond travel and lodging and include gas, meals, activities, and extras such as excursions. If you have children, summer camp costs could also be part of the plan. Camps often require deposits months in advance, so preparing early helps avoid last-minute financial pressure.
Once you have a number in mind, break it down into manageable monthly or weekly savings goals. Saving smaller amounts consistently now can feel far more doable than scrambling to cover a large expense later.
What Are Your Short-Term Savings Options?
When saving for a seasonal goal, it’s important to choose the right account type. Service Credit Union offers Primary Savings accounts for flexible access, Money Market accounts for higher balances, and Share Certificates for fixed-term savings with competitive returns.
Build a Simple Budget That Works
A seasonal savings goal works best when it fits into your everyday budget. Review your recent spending and look for areas where you can temporarily cut back, such as dining out less often or pausing unused subscriptions. With Subscription Manager, powered by ScribeUp, you can get full visibility into all your recurring payments, and cancel them with one click, right in online banking. You might be surprised by how much you’re spending on things you don’t even use, or even be doubling up on some!
You may also want to consider creating a dedicated “summer fund” category in your budget. Treating vacation savings like a regular bill makes it more likely you’ll stay on track. Even small automatic transfers can add up quickly over several months.
Use the Right Savings Account for Flexibility
Keeping your summer savings separate from everyday spending can make a big difference. A Primary Savings or Money Market account at Service Credit Union helps you organize your money, track progress, and reduce the temptation to dip into funds meant for vacation or camp expenses.
Automatic transfers through online or mobile banking make saving effortless. Set up recurring deposits and let your balance grow steadily in the background while you focus on planning the fun parts of summer.
Grow Your Savings With Share Certificates
If your summer plans are several months away, a share certificate can be a smart way to earn more on the money you’re setting aside. Service Credit Union offers share certificates with a variety of term options, starting with a three-month share certificate, allowing you to choose a timeframe that matches your vacation schedule.
Because certificates typically offer higher returns than standard savings, they can help your summer fund grow faster, without requiring extra effort. Selecting a maturity date that lines up with when you’ll need the money ensures your funds are ready right when it’s time to book travel or pay camp balances.
Pay Yourself Back With a Point-Earning Credit Card
The way you pay for your expenses can also work in your favor. Using a rewards credit card such as Service Credit Union’s Visa Signature Everyday Elite card allows you to earn 1.5 points for every dollar spent on eligible purchases, helping you get a little extra value from travel, camp fees, dining, and more.
When used responsibly and paid off on time, a point-earning card could “pay you back” for purchases you were already planning to make. Those points can add up toward future travel, statement credits, or other rewards, making next summer’s plans even easier to fund.
Make Saving a Family Effort
Summer planning can also be a great opportunity to involve the whole family. Talk with your kids about the cost of vacations or camps and encourage small contributions, like saving birthday money or earnings from chores. This not only boosts the vacation fund but also builds lifelong money skills.
You might even create a visual tracker. Watching progress together can make the countdown to summer more exciting and rewarding.
Enjoy Summer Without Financial Stress
Saving for summer vacation doesn’t require drastic changes—just a little time, planning, and the right financial tools. By starting early, budgeting thoughtfully, and using Service Credit Union’s savings tools, you can head into summer feeling confident and prepared.
Ready to get started? Open a primary savings account, compare share certificates, or explore money market options to build your summer fund today.
