Vacations are essential for your physical and mental wellbeing. You may be planning the perfect summer vacation, but how are you going to get around the price tag on your getaway? Do you pull out the plastic and worry about paying your credit card bills when your vacation is over? Do you beg a loan off friends, putting your most important relationships at risk? Do you live off pasta during the weeks leading up to your vacation and use the money you saved on groceries to cover the trip costs?

You don’t have to take extreme or irresponsible measures to fund the perfect summer vacation.

Read on for five ways Box Elder Credit Union can send you packing for your dream summer getaway.

piggy bank in a chair with sunglasses on a beach

1. Vacation Savings Account 

It’s easier to save up for a specific goal when you separate the funds to each particular goal from all your other savings. When you open up a savings account at Box Elder Credit Union, with the sole purpose of using it to build funds for your summer vacation, you’ll always know exactly how much money you’ve saved up. Plus, your money will grow, helping you 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 location.

2.) Adventure Time – Visa Credit Card

With our Visa Credit Card, it is easy to go on vacation. It has free balance transfers and low introductory rates as low as 2.99% apr* and is easy to apply for.  You can check it out online here, or come in and talk to a loan officer for more information.

couple getting help from a budget counselor

3.) Free Budget Counseling

Need help figuring out a way to save the money? We offer free budget counseling, and we can show you some tools to help you save for your next vacation. Come on into one of our branches, or schedule an appointment online and see how we can help you today.

4.) Skip-a-Payment 

Some credit unions allow qualifying members to skip one loan or credit card payment during the year. You’ll get the financial 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.

If you 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.

approved home equity line of credit

5.) HELOC / Personal Loan 

If you think you can’t possibly save up enough money to fund your vacation in time, consider a Home Equity Line of Credit or a Personal loan. You’ll get the funds you need for your getaway, and with our affordable rates, you won’t go broke paying it back. You can apply online for a personal loan by clicking this link: Apply Online or stop in to apply in just a few easy steps.

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