My girlfriends & I are going on vacation together next year, and we think it will cost about $500 per person for travel, lodging, food, etc. How can we best organize and save money for our trip? I was thinking one of us should set up a savings account at her bank, and everyone should deposit $50/month into the account. Is this possible? Any better ideas?
2007-07-30 11:23:33 · 5 answers · asked by Mandy 3 in Business & Finance ➔ Personal Finance
my bank has a holiday account - it is a savings account that you can either put a lump sum in or weekly or monthly deductions(interest bearing) - not sure if it can pull from more than one account --but unlike christmas clubs no check is cut until you come in and withdraw it. (decide how much you will need divide by the months left before you leave - than you know how much a month you need to save to meet your goal
my credit union has a vacation club -- works the same as above
2007-07-30 11:45:40 · answer #1 · answered by butch 5 · 0⤊ 0⤋
PK is correct, at least as far as keeping your funds separate. You can open a joint account if you wish, but I recommend against it. Given that your interest is likely to be less than $20 each, a cookie jar may work as well as a bank account.
2007-07-30 19:03:52 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
I think you should each open on online savings account, rather than pool funds. This way, if the trip doesn't happen, everyone still has her owns savings to spend as she wants to.
2007-07-30 18:46:44 · answer #3 · answered by PK 5 · 1⤊ 0⤋
maybe you could get your own little piggy bank (lol) and save up until yo have 500 dollars..................and yes, i think your idea is possible.........or maybe everytime you get a decent amount of money (lets say 20 dollars or more) you could deposite it...well, good luck!
2007-07-30 21:01:08 · answer #4 · answered by Laura 2 · 0⤊ 0⤋
You can give your contributions to me and I will save them in my a/c for you.
2007-07-30 21:11:41 · answer #5 · answered by Anonymous · 0⤊ 2⤋