For those of you lucky enough to be receiving a tax return this year, we implore you to try something new with that money you're getting back! There are a number of ways that your tax return can get you on the road, or at least can get you in the position that you can start saving for that trip you keep dreaming of!
Sometimes the financial road blocks to travel seem overwhelming. But making the right decisions, especially financially, can be the key to getting what you want (and that goes for life in general as well). Here are three ways to utilize your tax return to kick start your travel savings:
- Pay Off Debt: Releasing yourself from debt can be one of the quickest ways to freedom. Without having payments to credit cards, cars, loans, etc. you will be able to schedule a trip without having to worry about paying for things at home while you're away. Not to mention, the amount of money you will save in the long run on high interest accounts. All of that wasted money will be better spent on a coconut drink on the beach.
- Start a Savings Account: There is no better feeling than seeing a savings account with some cash in it. And knowing that growing that cash is your ticket (literally and figuratively) to a great time is even more motivating. Sometimes a little boost can be the catalyst to kick start your savings mentality. Before you do your taxes, open a savings account with a credit union or somewhere you don't have easy access to. Have your return deposited directly into the account and voila! Instant motivation!
- Purchase Travel Outright: Sometimes when the situation arises to pay for something in cash, you've got to jump on it! Although there are many travel credit cards that give you fantastic rewards, sometimes paying cash can help you avoid all of the fees and interest that so easily creep up on you! Buying your plane tickets or laying down a deposit with your tax return can be the first step to you seeing the world!
If you're looking to get away soon, check out our 2018 itineraries! We have amazing travel experiences to Thailand, Peru, Iceland & Costa Rica!