Going on vacation may be more manageable if you set aside funds for travel out of every paycheck. Telibasa recommends establishing a travel budget for the year. Once you have your budget, take some money out of each paycheck and deposit it into a dedicated savings account. For example, if your travel budget for the year is $10,000 and you get paid every two weeks, you could deposit $385 into your travel account every payday.

“This approach makes it much easier to pay for the vacation as the savings are out of sight, out of mind, and broken down into bite-sized pieces. Additionally, if we spread out the savings over a whole year, poor economic activity at one specific point will be less likely to impact us,” he explains.