Many people end up spending much more on the vacations by dipping into their savings or overspending on their credit card, incurring interest costs. Both are harmful for your financial interests. With a vacations savings planner you can start saving for your vacation well in advance and accumulate the amount you require for your vacations.
When you are estimating full trip expenses e.g. travel, accommodation, food, local transportation etc, you may find cost efficient options. Furthermore, if you have a budget you will be more disciplined in your spending.
You can setup a dedicated fund for your vacations savings. With dedicated fund for vacations, you can avoid dipping into investments earmarked for important life-stage goals like buying a house, children’s higher education, retirement planning etc.