If you’re like most Americans, as soon as you see ads announcing Memorial Day sale events, you start thinking summer. Summer means flip-flops and sandy beaches, sunscreen and baseball, fireworks and ice cream—and expensive vacations.
Perhaps you’re really needing to get away this summer, so you have the perfect vacation all planned out in your mind.
But how are you going to get around the steep price tag on your dream getaway? Do you pull out the plastic, make it happen and worry about paying your credit card bills only after you return home? Do you beg a loan off family and friends, putting your most important relationships at risk? Do you live off pasta in the weeks leading up to your vacation and use the money saved on groceries to cover the cost of your trip?
You don’t have to take extreme or irresponsible measures to fund the perfect summer vacation. As a member of US Community Credit Union, you have access to a variety of convenient products that can help you cover the costs of your trip with minimal effort on your part.
Read on for four ways US Community Credit Union can send you packing for your dream summer getaway.
Set Up a Savings Account with Vacation Goals in Mind
It’s easier to save up for a specific goal when you separate the funds you’re earmarking for that goal from all your other savings. When you open up a savings account at US Community Credit Union with the express purpose of using it to accumulate funds for your summer vacation, you’ll always know exactly how much money you’ve saved up for your getaway. Plus, your money will grow, so you’ll reach your goal sooner.
You may have already started saving up for summer expenses in your regular savings account. Move that money into your summer savings account now so your vacation funds are in one easy location.
To be certain you’re socking away enough money to cover your getaway, create a vacation budget now. Realistically, how much money will you need to cover the costs of your trip? Next, determine when you’d like to go and count the number of weeks or months left until your vacation date. Work out the exact amount you’ll need to save each week or month by dividing your total vacation budget by the number of weeks or months left to go before your trip. You can trim your budget, sell some stuff you don’t use anymore or take on a side hustle to come up with the necessary savings. Finally, link your checking account and your designated vacation savings account – and set up a direct deposit – so that your summersavings can grow almost effortlessly.
Open a Personal Loan for Those Once in a Lifetime Vacations
If you think you can’t possibly save up enough money to fund your vacation in time, consider taking out a Personal Loan instead.
When you take out a personal loan at US Community Credit Union, you’ll get the funds you need to send you off on your dream getaway. And best of all, with our affordable rates, you won’t go broke paying it back! Speak to us today to find out more about this fantastic option.
Skip a Loan Payment and Hold on to Your Cash
If you’re desperate for a vacation in more ways than one, consider taking a break from some of your financial responsibilities this summer. US Community Credit Union allows qualifying members to skip one loan payment during this expensive time of year. By choosing Skip-a-Payment, you’ll get the break you need without hurting your credit or defaulting on the loan. However, your loan or balance payment plan will extend for another month, and the interest on the skipped payment will be integrated into the principal of your loan or bill.
Skipping a payment is not recommended for members who are struggling to get on top of their finances. But, if you’re in a financially comfortable place and just need some extra breathing room this time of year, skipping one monthly payment can be a great way to help you cover the costs of your summer getaway.
A Vacation Club Account is the Perfect Option
Instead of panicking about summer expenses when the calendar hits June each year, why not pay a little bit toward your summer costs all year long? When you open a Vacation Club account at US Community Credit Union, you’ll be spreading the cost of your summer getaway across the entire year. Each month, you’ll pay just a little bit toward funding your vacation, and when summer rolls around, you’ll have all the money you need for your vacation, without taking a huge bite out of your monthly budget or going into debt. Find out more by speaking to a USCCU representative about opening a Vacation Club account to help cover the costs of summer.
Get your vacation plans off the ground by stopping by US Community Credit Union today. We have a broad range of products that can turn your dream vacation into a reality!
SOURCES:
https://www.moneycrashers.com/save-up-fund-summer-vacation
https://www.theworkathomewoman.com/fund-your-summer-vacation/
https://www.fool.com/amp/retirement/2018/06/03/3-tips-to-save-for-your-summer-vacation.aspx
https://www.everydollar.com/blog/plan-your-vacation
https://www.investopedia.com/terms/s/skip_payment_mortgage.asp