Why Save for a Vacation?

A stress-free trip starts with savings. Pay with cash, not credit, and avoid the burden of debt. Planning ahead also gives you access to better deals and lets you relax fully, shifting your mindset from “Can I afford this?” to “I planned for this.”

 

Set a Goal & Timeline

 

Estimate your total cost by considering:

• Destination & trip length

• Accommodation and transportation

• Food, activities, and a safety buffer

 

Divide the total by the number of weeks/months until your departure—that’s your weekly or monthly target.

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Where to Save

• **High‑Interest Savings Account (HISA)**
  Use a secure, interest‑bearing account for short-term goals.
  Try Tangerine Savings Account for ~4.5% promotional APY EQ Bank Notice Savings for 2.85% with flexible access 

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• Goal‑Based Vacation Fund
  Many banks let you label your account (e.g., “Italy 2026”) to stay motivated)

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Smart Saving Habits

• Automate transfers—$25/week adds up fast

• Trim small expenses and redirect savings

• Use budgeting apps like Mint or YNAB

• Earn rewards:
  Use Rakuten.ca to get up to 6% cash-back on Expedia, Viator, flights & hotels en.wikipedia.org+1en.wikipedia.org+1en.wikipedia.orgrakuten.ca

 

Maximize Your Travel Budget

• Book in advance and travel off-season

• Compare deals on Skyscanner, Google Flights, Expedia

• Stay in Airbnbs, hostels, or with friends

• Travel mid-week for lower fares

• Choose local, free activities like museums and outdoor events

 

Final Thoughts

Savings isn’t sacrifice—it’s freedom. With intention and a little planning, you can build the trip fund you want, book the vacation you deserve, and return home with no regrets.