Vacation Account

[bzlady2]

When you start saving for your vacation do you open a separate bank account? If you do, is it a checking or savings account? it has been years since I have opened a new bank account. I was wondering if it might be the wiser thing to do rather than keeping it in my "household account".

 

[NYEmomma]

We have a separate vacation account and it's a saving's account.

DH's job pays for all of our bills & expenses but I WAH part-time... the income isn't guaranteed nor is it steady, so we take my paychecks, put half into our vacation saving's account & the other half gets tacked onto our credit card payment. My paycheck is the only money that gets put away for vacation... we don't have any extra money besides that to save.

 

[Marionnette]

When you start saving for your vacation do you open a separate bank account? If you do, is it a checking or savings account? it has been years since I have opened a new bank account. I was wondering if it might be the wiser thing to do rather than keeping it in my "household account".

We don't open new accounts for each trip. We have one account that we use for all vacation funds. So the money for our annual trip to the beach is mixed in with our money for our 30th anniversary trip (in 4 years) and our weekend trips with friends several times a year.

 

[disneychrista]

I have a seperate ING savings account that I put a set amount in each month.

 

[A10560]

I also have the seperate ING accounts. I have one for our Disney 2012 trip and one for our 10 year anniversary trip. I have a certain amount taken out of our regular account every week for each of these trips.

 

[DawnM]

I didnt' used to. We would just use bonus money or the extra from DH's private client he works for on the side.

But now we have an ING account.

Dawn

 

[Sugar Jones]

I have a seperate savings account that is linked to my chequing account. Only money for Disney goes into that savings account.

 

[jennyf2]

I have a separate vacation/Christmas account. Any extra money goes in there-- rebates, survey checks, etc...

 

[nunzia]

I have a separate account that is always designated for vacations. It's away from my regular checking and savings account and is at a Credit Union. I have a checking account linked to it, so when I charge something tripwise like train tickets, I transfer money from the savings to checking and then billpay the payment to the credit card.

 

[semo233]

Last August, I went into the credit union where I have my paycheck direct deposited and asked if I can open additional savings accounts that I can transfer to online. My credit union is a half hour away, so I needed it to be easy.
They had three accounts that I could link to my checking account that I have designated as: vacation, retirement and holiday. I found out that they did not have to be closed out at any time and there was a $5 minimum that had to be in them to keep the account open.
My regular savings account is where I put $$ for the summer months when I am not working and not earning money!
All spending money is is my checking account for the two weeks in between paychecks.

 

[RachaelA]

I have a seperate ING savings account that I put a set amount in each month.

This is what I do. I have a bunch of ING accounts that have specific purposes.

 

[disneysmiles]

agree with the above posters. ING all the way. you can get an extra 25 bucks if you know someone with an account as a referral. AND! It's super easier to add extra sub-accounts to you overall account.

For instance we have a tithing, vacation fund, taxes account. Makes our lives really easy. And it's fun to see the vacation account slowly rise.

 

[mermaidwannabe]

I started having a separate vacation fund before our first trip to DW with ING, which I love. It is like a vault because once money goes in, I don't EVER take any out unless it's for the vacation. We needed some extra money for a home project one year and my DH remarked it would be nice to not have to touch savings for it and suggested taking some out of the vaca fund and I said, "NO WAY!" It's just so much easier and less stressful to have money going in there. We have it down to a science now since we spend around the same amount each year. I have a certain amount automatically taken out of my account, we use some of our tax refund and DH supplements some each Spring. It's SOOO nice to have vacation 100% paid for before we go. Honestly, I don't think I could enjoy it as much if it wasn't. Now, I wish I would do this for Christmas. Maybe I'll start that! BTW, ING is really easy and safe to use. Transfers take 2-3 days and you can set up automatic amounts for any schedule you want, I believe.

 

[kimara]

we don't have a separate account for vacation savings. never really thought of doing it.
i just put it into our other savings account that has our "three month emergency" funds. i know how much is emergency and everything else is vacation and/or Christmas.

i am now considering how happy it would make me to watch that vacation savings number grow all on it's own. hmmm... with my savings bank it is super easy to add another account, i just never have.

 

[angierae]

Yup, we have a savings account at ING that's nicknamed "Disney Savings" and I automagically transfer money into it every payday. It's so nice to see it growing in there.

("Found" money also goes in there at the end of the month.)

I like that it's not tied to my checking, so it's more complicated to dip into it, which keeps me away from it.

 

[Kat&Dom]

Yes, I have a separate savings account for vacation! It is so nice to have it sitting separately and know that I have no stress or worry about vacation and how I will pay for it - it is all sitting there waiting for our trip. We are going to Disney in November, our flights, car rental, accomodation and park tickets are already paid for and taken care of. What is sitting in the account is our spending money and I keep adding to it so we will have our next trip covered by the time this trip happens.

 

[notaprincess]

I don't... but I'm solo, no kids.
I just run a ball park figure in my head and stop spending like crazy.

Cannot book anything right now anyways as my trip is hopefully in Nov 2012.

If things in my life were different, I'd be setting up an account too.

 

[kkmcan]

We have a separate checking account that my paychecks from my part time job go into. That money is strictly for vacations. Also I decided I wanted to get Disneyland annual passes last October so I've trying to put $100/month in an envelope for that. We are going in this oct and we've got $700 already saved! I cash isn't the best to keep in the house but we've got it put away in a locked safe.

 

[LadyBeBop]

Since we usually take our vacations in June, we have one account for both Christmas and Vacation.

From January to June, it's our vacation fund.
From June to December, it's our Christmas fund.

 

[travelbug]

I have one savings account that serves many purposes. I divide it on paper and keep a spreadsheet of all the different "sub-accounts" the total represents. So whenever I make a deposit, I divide it on paper so I know how much I'm saving toward each column (so much for Christmas, so much for DVC dues, so much for household misc., so much for car maintenance, so much for WDW trips, so much for other travel, etc. etc.) I'm very disciplined to not dip into one column to feed another.

Possibly not something that others would like, but it works great for me.