Tag Archives: vacation

How to Save for Your Dream Vacation

vacation

From sunny beaches to tall mountains, everyone has their own version of a dream vacation. But how do you save enough cash to go? It’s important to see the world and take in all it has to offer, which is why Timberwood Bank has come up with these tried and trusted ways to save for your dream vacation.

Timing Is Key

Instead of taking off 5 whole days of work, is there a week where you can travel to include a weekend and a holiday? This automatically gives you a three day start to your vacation, with no time having to be taken off yet! You can also factor in the time of year, as plane tickets and places to stay can be cheaper during some months over others. This can easily save you hundreds right off the bat.

Cut Back To Necessities

There are plenty of things you don’t need to be spending money on each month. Stop getting your nails done, buy generic brands instead of brand name, eat out less and drop some memberships. You don’t need ANY of those items, so cut them out of your life and put all of that savings towards your vacation fund!

Airbnb It

Airbnb has phenomenal prices compared to hotels in some areas. Instead of paying $200 a night, you can pay $60. This also allows you to be able to bounce around to different places in the country you choose to explore, instead of being tied down to only areas that have hotels. There are also plenty of alternatives to Airbnb, so check them out to see what they offer!

Download A Budgeting App

An app can help you stay on top of your savings game while trying to rack up money for your trip. Of course, while these apps have cool features, like the capability to set financial goals or save toward a single event – like your vacation – it’s still up to you to make it happen. Some apps include: Mint, Acorns, Pocket Guard, Albert and Wally.

Travel During The Off-Season

Going when everyone else normally doesn’t travel is a perfect way to save! Even though it’s the off-season, you’ll still be able to explore all the beautiful landmarks and places you want to see. Lots of places are always warm, so traveling at a different time than you originally wanted won’t hurt your chance to soak up the sun.

We hope these tips help you start saving for your big trip! Getting out and exploring the world is so important, so we want to help in any way we can. Open a savings account with us today to help store your vacation fund!

Are All Inclusive Vacations Worth It? Save Money on Your Next Trip

vacation

Has it just felt too long since your last vacation? Are you peeking around the corner to plan your perfect getaway? If so, then planning far in advance can help get you one step closer to sipping that Mai Tai on the beach for a fraction of the price. However, it can be challenging to know which avenue to take between the romanticized all- inclusive vacations or scouting it out on your own. It can be especially more difficult when your dream vacation is limited to a tight budget. You don’t want to end up eating more costs than planned.

All inclusives seem like a great idea if you want to know the exact costs before leaving. However, the biggest risk with them are the hidden costs, so be informed to make the best decision for your budget. We have considered the potential hidden costs of all inclusives, so you are able to make an informed decision that works for you!

Travel

This might seem like a no-brainer, but most all inclusive resorts will require a flight. If you are leaning towards a cruise, you will have travel time to the port, but from there will be reliant on the ship to get you to your many destinations. Any travel beyond will require an additional expense. Is your parking included once you arrive? The owners will pride their resorts as a place you will never want to leave, so additional travel should be minimal. However, if you prefer more spur of the moment adventures, this may not be for you.

Food & Drink

If a deal sounds too good to be true, it most likely is. Remember that discounts may be there for a reason. You will not be happy to find out upon arrival that half of the resort is under construction, so ask questions. At an all inclusive resort, the idea is that you don’t have to carry around cash or card once you get there. All of the drinks and meals should be 100 percent covered….within the limits of your packaged deal. However, you run the risk of having average food, with repetitive meals. Want that fresh lobster? There may be an additional price. For specialty restaurants that are included in the costs, you may have to make a reservation which can be difficult to do in advance. Drinks beyond coffee, juice and tea may come at another expense, so be prepared to pay for alcohol.

Excursions

You are going to want to read the fine print of what activities are included in the price. Things like massages, scuba diving and boat rides are most likely going to cost you extra. If you are fine with soaking up your time relaxing on the beach and enjoying the nightly provided entertainment, this won’t be an issue!

Environment

All inclusives are not meant for the traveler who likes being exposed to other cultures. You are primarily going to be spending your time with others similar to you. The places your cruise ship ports at are often times large operations that do not always benefit the local economy. If you are a traveler who prefers to enjoy your time away without the stress of adapting to a different culture, all-inclusives might be for you. You won’t have to worry about scouting for transportation, getting lost or language barriers.

It’s important to realize that all-inclusives may not be cheaper than a non-inclusive vacation. However, they may save you the time and energy it takes to plan out every detail of a trip. The potential savings from a DIY method may not be worth the energy to some. The most crucial part to making sure your money is well spent is to read the fine print of every purchase agreement you make for your vacation. Tipping, Wifi and a resort fee may be added onto your bill at the end of your stay and we want to help you avoid that!  In this way, you can have a blast on your trip, and NOT your wallet!

Dreamin’ of Summer- Saving for Your Next Vacation

The monotony of the day to day can get you down in the season of cold and gray. However, that beach on your screensaver doesn’t have to be an esteemed fantasy if you are ready to take some action. You can turn your ideal vacation into a reality by starting to save and plan that getaway now, before travel season hits in full.

Create a Budget

If you are thinking about a vacation, you are definitely going to need to establish a budget to keep your spending in check. Some budgeters swear by the 50/30/20 rule. This is a simplified budget where you allot 50% of your after-tax income to necessities, 30% for wants and 20% for savings. Adjust this as you need. We all know that adding kids into the mixture of vacations increases prices exponentially, so you may want to increase savings, and see what you can go without.  See if you can even tap into a Grandparents Travel Grant.

Set Up an Account

Stop by Timberwood Bank to speak with one of our Personal Bankers about options for savings accounts. We recommend setting up an automatic withdrawal to come from your account each month, or asking your employer to put a portion of your paycheck into a different account. For a majority of people, if the money is there, it will get spent, so having an automatic savings will keep you on track of your goals.

Decide How Much You Need

Get a grasp of how much your vacation will cost you. That means calculating hotels, food and flight. However, don’t forget the expenses you will still have while traveling. You will still have your normal bills and you may need to pay a local kid to get your mail or a business to board Fido. Divide this amount by the number of weeks until your desired vacation date.

Go the Extra Mile

When calculating this all out, don’t be dismayed. This vacation can be attainable for you, as long as you stick to the process. It just may not be in the exact time frame you desire. Keep yourself motivated by listening to music, looking at pictures and eating food reminiscent of your destination. Go the extra mile to scrap for savings everywhere you can. Clean out your closets and post them for sale. Start a change jar or carpool to work. You will be surprised that by putting in the extra effort your savings can increase fairly quickly as your spending depletes and scrappiness grows. Best of luck, and please let us know how we can help you reach your goals at Timberwood Bank!

The 10 Most Affordable Winter Destinations

Getaway

The snowbirds seem have the right idea! Just as winter becomes too chilly and snow-filled, they flee to warmer weather! It just so happens that this is the ideal time to visit a variety of areas, while their prices remain low during their slower season. See how you can capture the best deals on your getaway from the colder weather, along with other popular snow-covered destinations.

Panama City, Panama: This amazing city is a must-see for those with a case of wanderlust. Filled with old history, and new innovation, the town of Panama City continues to surprise your senses. Explore the Casco Viejo area, and make your way to the Manolo Caracol restaurant. With this deliciously simple meal in your belly, you’ll be able to take on any adventure you find in Panama.

Singer Island, Florida: For this tropical getaway you don’t even need a passport! Tucked along Florida’s southeast coast, this local paradise offers the best of the beach life along with luxurious city activities in the neighboring West Palm Beach. If you’re looking for adventure, scuba shop Pura Vida Divers can help you fulfill all your scuba dreams! With diving, snorkeling, and surfing services, this family-run business will make sure your time with them is the best memory of your trip.

Punta Cana, Dominican Republic: Filled with luxurious all-inclusive resorts, this Caribbean getaway will help maximize any budget! There are hundreds of resorts to choose from, and most offer packages which include meals, beverages, and on-site hotel activities. Be sure to also catch a round or two of golf at their renowned clubs across the island!

Ambergris Caye, Belize: Feel the heat year round in this island paradise! With activities on both the island and inland, you’ll never have a dull moment at this destination. If you’re searching for some adventure, be sure to stop by Amigo’s to book your next cave tubing, zip lining, or ruin climbing tour! After your day you can enjoy an unwinding meal at the island’s best ceviche restaurant, Hurricane’s, but watch out for their signature hurricane cocktail!

Vancouver, Canada: Home to the famous Whistler Blackcomb mountain, this chilly destination is filled with plenty of activities and beautiful snow-covered trees! Extend your trip into the city of Vancouver itself to discover the Granville Island market and delicious local delicacies such as poutine and the JapaDog.

Big Sky, Montana: Avoid the chaos of Winter Park, and venture to the less populous, but immaculate slopes of Big Sky. With affordable packages to ski and stay, you and your family can enjoy your days on the slopes, and your evenings at the lodge. If you feel like venturing into town, you can warm up with some deliciously spicy food from the local favorite, Alberto’s.

New York City, New York: This iconic destination definitely makes its mark on your traveling memories, and during the winter, it becomes more affordable than ever! With inspiring sights such as the Rockefeller Center, and the Ground Zero Memorial, this city will inspire you throughout your vacation. Share a laugh with your family and get tickets to the Tony Award-winning Best Musical, Book of Mormon. This trip will surely be one to remember!

For every adventure you plan, there should always be a budget behind it! If you want to learn how to best save and budget for your next getaway drop us a line or stop by today!

How to Tip on Vacation

vacation

Traveling the world is both adventurous and insightful. From climbing mountain peaks, to swimming among tropical fish, wherever your next vacation takes you, make sure you’re financially prepared. At Timberwood Bank, we’re excited to help you get ready for your upcoming destination! Try these tipping tricks next time you’re out and about on your future getaway.

Bartenders: $1 per drink or, or 15-20 percent of the total bill.

Bellman/Porter: $1-2 per piece of luggage.

Casino Card Dealers: Tip a chip in the amount you are betting, staggered on your amount of win’s. If you are playing $5 chips and win a few then giving the dealer a $5 chip as well.

Concierge: $5 per request.

Hairdresser/Manicurist: An additional 10-20 percent for a good service.

Housekeeping: $2-3 per night up to $5 generally in more high end hotels.

Instructors: An additional $10-20 per quality lesson for various sport or leisure activities.

In suite dining: Service charge goes to the hotel not the waiter. If no gratuity added put on an additional 15-20 percent tip.

Scuba Diving: For an afternoon (or 2 tank dive) it is common to tip $20 per person, per day of the trip. These tips generally go to the deck hands and dive guides for equipment hauling and tank turnover.

Spa: Tip 10-20 percent if gratuity has not already been included.

Tour Guides: 15-20 percent or more depending on knowledge and quality of the outing.

Valet Parking: $2-5 when picking up car.

For all your vacation excursions and more, these helpful tips will aid you in all of your travel spending. To better manage your finances back home, be sure to give Timberwood Bank a call! We’ll work with you to help boost your savings to make your next vacation a relaxing success.

5 Ways to Save For Your Next Vacation

Savings

Whether it’s skiing in the mountains, scuba diving among the reefs, or exploring history throughout famous museums, your ideal vacation can be anything you make it. Wherever you dream of traveling to, price is sure to be a factor in your decision. Make the trip of your dreams into a reality with these smart saving tricks to help fund your travels wherever they may lead.

  1. Open a dedicated savings account. To keep your goal clearly in sight and prevent overspending, establish a dedicated savings account for family vacations. You can use these funds throughout the vacation planning stages to book hotels and tickets. During your trip, easily track your designated spending while preventing unneeded dips into a primary savings account.
  2. Trust the change jar. The nickels and dimes that collect at the bottom of your pockets may seem insignificant, but a mere $1.25 saved every day in spare change adds up to just under $500 in only one year. Establish a large lidded container for your trip funds, for gas or gifts. Be sure to keep your eyes peeled for loose change both at home and during your work day.
  3. Designate a pantry week. In the months leading up to your vacation, pick one week each month to skip the grocery store and eat out of personal food storage. By eating meals such as spaghetti, soup, or rice, you’ll par down the grocery bill while consuming pre-purchased food before it goes bad.
  4. Repurpose gift cards. Instead of letting that plastic currency go to waste speak with friends and family members to see if any of them are interested in a trade. If there is no trade to be had, selling the gift card for slightly less than the card’s value may create a better incentive for buyers while still allowing you to receive the best benefit.
  5. Save energy. Cut down on your monthly utility bill by creating a list of action items to save on energy costs. Running the dishwasher for extreme loads only, switching to cold instead of hot water for laundry, setting a time limit for showers, and only turning on essential lights can lower your utility bill piece by piece. Take the difference saved and funnel it into your travel savings account.

 At Timberwood Bank, we love seeing you accomplish your financial goals and enjoy all of the incredible places they can take you. If a vacation is on your horizon, make an appointment with one of our personal bankers today and learn how to make the most of your savings.

Explore Wisconsin

Stay close to home and still have a great summer vacation by exploring Wisconsin.

Stay close to home and still have a great summer vacation by exploring Wisconsin.

 

You may be wanting to go on a last-minute summer vacation and are even trying some quick money-saving tricks to do so.  But when traveling long distances just won’t work with your finances, it may be time to consider traveling right here in Wisconsin! Continue reading →

7 Tips to Save Quick for a Family Trip

Hurry! There is still time to go on a vacation this summer by using these helpful tips to save quick.

Hurry! There is still time to go on a vacation this summer by using these helpful tips to save quick.

 

As the summer progresses, you’ve seen your friends and family take off and return home telling stories of how much fun they had on their summer vacation. As what’s left of summer turns into weeks rather than months, you may just now be realizing that you want to take a summer vacation of your own! Continue reading →