Saving for Travel & Experiences ✈️

Traveling and making memories with friends is one of the best parts of your 20s and 30s. But trips, concerts, and weekend getaways can add up quickly and if you’re not careful, those short-term splurges can sabotage your long-term goals like buying a home, paying off debt, or building wealth.

The good news is you don’t have to choose between fun now and progress later. With a plan, you can do both.

Step 1: Decide What Experiences Matter Most

Not every trip or event is worth the same to you. Be intentional about what’s most important.

• Do you care more about international travel once a year, or smaller weekend getaways with friends?

• Do you want to prioritize concerts, festivals, or road trips?

Identifying your “top tier” experiences helps you spend in a way that feels fulfilling, not random.

Step 2: Create a Dedicated Travel/Experience Fund

Just like you’d save for a down payment or emergency fund, set up a separate savings account (or sub-account) just for travel and fun experiences. Automating contributions even $50–$100 per paycheck makes sure the money is there when you’re ready to book without dipping into credit cards.

Step 3: Use Short-Term Savings Tools

Because these expenses are near-term (1–24 months), you don’t want the money locked away.

• High-yield savings accounts are ideal since they pay interest but allow quick access when it’s time to spend.

• If you’re planning something 1–3 years out, a Certificate of Deposit (CD) could also work since it locks in a slightly higher rate.

Step 4: Be Strategic With Your Budget

If your budget already covers essentials and long-term goals, carve out a category for “experiences.” This is guilt-free money you can spend without sabotaging progress elsewhere. Even a small monthly amount builds up quickly over time.

Step 5: Book Smart

Stretch your travel dollars by looking for flights mid-week, using rewards points, traveling off-peak, or splitting accommodations with friends. The less you spend to get the same experience, the more trips you can afford.

Step 6: Balance Today and Tomorrow

The key is to make sure your experiences fund doesn’t replace your future fund. Always keep your emergency savings and long-term goals separate. Travel and fun should be an addition to your financial life, not a reason to pause retirement contributions or delay debt payoff.

Takeaway

You don’t have to sacrifice fun for the future. By planning ahead, setting aside money in the right account, and being intentional about the experiences that matter most, you can make memories today without regrets tomorrow.