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Vacation Savings

Established Member

Vacation Savings

Recently I have reached a point where debt is nearly vanquished and would like to begin employing some kind of strategy for annual vacation savings. I am curious as to what kind of strategies you all use for short terms savings like this as far as High-Yield savings, MMA's, CD's, etc...

 

I'm not talking about huge money, maybe 3-5k annually. Just trying to figure out the smartest way to do it, and perhaps feedback on banks/products others have used to this end.

 

Thanks!


Starting Score: EQ: 635, TU: 623 EX: ???
Current Score: EQ: 789, TU: 783, EX: 773 (FAKO)
Goal Score: 800+ on ALL


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1 REPLY
Established Contributor

Re: Vacation Savings

Pay yourself first! Open a savings account, place money into it weekly, monthly, however. Never touch it except for vacation!. I know of one CU that offers a goal saver cd. The unique thing is you set the goal name and open it up. You can actually add to this cd. It is fun to watch it grow. Plus since it is a CD you can not cash it out until maturity.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience