DVA plan... Good or Bad?

[emldrl]

We are planning a trip for spring 2016, and are starting to save with our tax return in a couple of months. We are NOT good with saving money, and need a way to save that's not readily accessible, so here's my plan. Please tell me if there are any holes, or if there are better options. And also, I will not be using gift cards, just our bank account.

1.Open DVA with money from taxes.
2.Set up monthly deposits to DVA.
3.Put next year's taxes into DVA.
4.Pay for trip with DVA.
5.Get any extra money back as gift cards, then use that to pay for food. (will do this at least two months before trip)

Will this be ok? Any problems I'm not seeing? Thanks for any help or advice!

 

[momto4obkids]

Looks good to me!

Just remember you can only get a maximum of $500 in gift cards with your DVA.


I have been using mine since May and like it so far. My TA has been making payments on our package with no problems.

 

[emldrl]

Looks good to me!

Just remember you can only get a maximum of $500 in gift cards with your DVA.


I have been using mine since May and like it so far. My TA has been making payments on our package with no problems.

Thanks! I didn't know about the gift card limit, but I can have them credit my checking account, then immediately get Visa prepaid cards. That is my plan B. We don't want to use our check card down there at all.