Traveling Tracy Asks Kim

Dear Kim, 

How can I save up enough money to take a dream vacation? When I say dream vacation, I want to visit Greece and go on an excursion throughout the country. I am 40 now and my goal is to take this dream vacation before I turn 50. What are some ways that I can begin saving and planning my trip now? Thank you! 


Sincerely,

Traveling Tracy

Dear Tracy,

What a great goal, and a little bit of discipline is all you need here. Plan out your trip and decide  about how much it will cost. Then divide that number into the number of months between now and when you need to start paying for it and save that amount each month in a separate account. The easiest way is to make it automatic, have an auto draft done each payday into your savings account. . Remember that inflation will cause prices to rise between now and then and take that into account. I hope you enjoy Greece and all it has to offer, and be sure to visit Santorini while you’re there. Don’t forget  to save a little extra for the unexpected expenses that are sure to arise on your trip.

Sincerely,

Kim

If you need help navigating your finances talk to Kim Spencer by clicking the link below to

Ask Kim

Investment advisory services offered through Equita Financial Network, Inc. (“Equita”). Equita also markets investment advisory services under the name Next Step Financial. The foregoing content reflects the opinions of the author(s) and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct.  

All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.