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For some travelers, shopping for souvenirs is a vacation highlight. Whether along a street of indie boutiques in a big city or at a craft market by the beach, hunting for items that you won’t find back home can be a thrill. What’s more, every time you use or wear your purchases — or spot a friend with something you gifted them — can trigger happy memories of the place you explored.

Unfortunately, it’s all too easy to come home with overpriced trinkets that you quickly tire of or even regret. Being more thoughtful about the types of souvenirs you bring home from your vacation can make your trip more memorable and save you some money. While the “best” souvenirs will depend on your own specific likes, interests, and budget, these tips can help you shop smarter.

How Much Should You Spend on Souvenirs?

Just as with any other part of your finances, you will want to have a budget for your travel souvenirs. Without one, you’re likely to end up spending more than you intend.

But how much to spend on souvenirs? The exact amount depends on what’s important to you.

•   One strategy is to decide beforehand what kind of souvenirs you want to bring back from your trip. Let’s say you’re heading to California and are excited to visit a certain clothing shop you’ve been following on social media. You may want to designate the cost of a typical, say, shirt or pair of pants in your budget.

•   If you’ve already maxed out your budget on plane tickets and a boutique hotel, however, you may want to allocate just $20 or so for a little something to remind you of your trip. (Note: Don’t fool yourself with book now, pay later travel plans; you definitely need to account for those charges you will owe and not overspend when traveling.)

•   Another thing to keep in mind is budgeting for children’s souvenirs. One way that families can afford to travel is by keeping the overall souvenir budget low. Souvenirs may be even more meaningful for kids than parents, so one strategy is to give each child a set budget beforehand if they are old enough to do basic math. That way, instead of having them constantly asking for souvenirs during their trip, they know that they have a specific budget and can plan accordingly.

What Are the Most Popular Souvenirs?

Here is a list of some of the most popular souvenirs that travelers bring home from their vacation. While they tend to be mass-produced (and have no real connection to the location where you buy them), they also make inexpensive gifts for friends and coworkers:

•   Fridge magnets

•   Shot glasses

•   Christmas ornaments

•   Postcards

•   T-shirts or other clothing

•   Photo frames

If you’re looking for ways to stretch your souvenir budget a little further, consider using credit card rewards as a way to help pay for these small gifts.

Meaningful Souvenirs You Won’t Regret

Because there’s such a wide variety among travel souvenirs, you want to make sure to get ones that will be meaningful. While the exact definition of “meaningful” will vary for each person, here are a few items to consider:

•   Postcards: These can be a great option, especially if you write a meaningful memory on it and mail it to yourself. You can frame it when you get home. Another plus: Postcards are super lightweight and easily packed.

•   Handcrafted items: If you’re saving money on hotels by staying somewhere local, you may have extra money to buy, say, a small carved wooden box from Costa Rica.
Artwork: Continuing with local inspiration, another possibility is local artwork. Just make sure you have a reliable way to get it back home.

•   Foreign currency & coins: When you’re traveling internationally, consider keeping a small amount of foreign currency or coins as a memento of your trip.

•   Something practical: Another option to consider is something practical like a locally printed beach towel or tote bag. Not only will it bring back great memories, it’s also something you can regularly use.

•   Photos: Just don’t let them sit in your hard drive: Print them out to give as gifts or display at home. Consider a local photo frame to show off some of your best shots.

Recommended: Where to Keep a Travel Fund

Souvenirs to Avoid

Here are a few souvenirs that you’ll want to avoid:

•   Shells, coral, wildlife, and animals: While seashells and coral might seem like great souvenirs from a beach vacation, it’s not eco-friendly to remove these items from the local habitat. Many locations even have laws about removing such natural wonders from the beach.

And even though you may encounter many adorable stray dogs or cats while traveling, remind yourself of what a big commitment it can be to own a pet (and then potentially travel with a pet).

•   Coffee mugs: Mugs are generally fragile and not locally made. Plus, how many coffee mugs do you really need?

•   Food and alcohol: While eating and drinking locally can be a great way to get into the vacation spirit, bringing home food or drink runs the risk of your souvenirs getting seized by customs.

•   Things you can buy cheaper at home: Do some research before you buy — if you can buy it cheaper online, it’s probably not a great souvenir.

•   Key rings: This is similar to the coffee mug problem. Sure, they’re cute and widely available, but how many do you need?

Tips for Souvenir Shopping

Here’s some advice to help increase the odds that you souvenir-shop for items you’ll treasure for years to come:

•   Research your destination’s signature products before you leave. If you’re heading to Venice, you might want to bring back a small glass pendant from Murano (the nearby “Glass Island”), where you can watch artisans at work; this has been a local tradition for centuries.

•   Set a souvenir budget and decide before you go what you want to bring back as a souvenir. This can help prevent you from overspending and blowing your budget in the moment.

•   Think small, and look for products that are locally and ethically sourced.

•   Another idea is to pick a theme for your souvenirs (inexpensive bracelets or bumper stickers), or use a travel credit card or cash back rewards credit card for your purchases that can reward you for spending.

Recommended: How Does Credit Card Travel Insurance Work?

The Takeaway

For many people, bringing home souvenirs is one of the best parts of a trip. While the perfect souvenir will be different for each person, there are a few things that you can do to get meaningful mementos without breaking the bank. Make a plan and set your budget beforehand, and look for items that are specific to the area, ethically sourced, and perhaps handmade. Chances are, you don’t need another coffee mug, but a locally crafted item might be just the thing to remind you of your travels.

SoFi Travel is a new service offered exclusively to SoFi members. Earn 2x rewards when booking with your SoFi Mastercard or debit card. Then apply those rewards to your next trip when you book through our travel portal. SoFi makes planning a getaway fast, easy, and convenient — perfect for people on the move.

SoFi, your one-stop shop for travel.

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¹See Rewards Details at SoFi.com/card/rewards.

**Terms, and conditions apply: The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click https://www.expediagroup.com/home/default.aspx.

When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, you will earn a number of SoFi Member Rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% or more on eligible bookings.

Eligibility: You must be a SoFi registered user.
You must agree to SoFi’s privacy consent agreement.
You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia's website or app, or any other site operated or powered by Expedia is not eligible.
You must pay using your SoFi Credit Card.

SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/ and Terms applicable to Member Rewards.

Additional Terms: Changes to your bookings will affect the Rewards balance for the purchase. Any canceled bookings or fraud will cause Rewards to be rescinded. Rewards can be delayed by up to 7 business days after a transaction posts on Members’ SoFi Credit Card ledger. SoFi reserves the right to withhold Rewards points for suspected fraud, misuse, or suspicious activities.
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


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If you don’t have a college degree, certain jobs may be out of your reach. But does that mean that you can’t feel professionally fulfilled? Absolutely not. There are many careers that don’t require post-secondary education and can provide workers with a sense of happiness and purpose.

Here’s a look at the characteristics that make a job rewarding, the industries that offer the greatest sense of well-being, and the most satisfying jobs you can get in those industries that don’t require a degree.

Characteristics of a Satisfying Job

It can be tough to pin down the characteristics of a satisfying job. That’s because satisfaction can be subjective. There are plenty of roles out there that you may prefer to avoid but others would be over the moon to try.

That said, the most rewarding jobs tend to share some qualities. According to the Urban Institute, good jobs typically offer:

•   Liveable wages that allow employees to cover basic needs.

•   Growth opportunity within the company to improve skills and advance.

•   Workplace flexibility and control over one’s schedule.

•   Benefits, such as paid leave, health care, and retirement contributions.

•   Safe working conditions.

Why Is It Difficult to Find a Satisfying Job Without a College Degree?

There are other characteristics you might find necessary to consider work satisfying. For example, you might want a job where you help people, like a doctor, or a job where you work with animals, like a veterinarian.

Unfortunately, without a post-secondary degree, your pool of available jobs will likely be limited. Depending on the job market in your area, that may mean you have to compromise on the job you choose or relocate so you can be closer to meaningful work you qualify for.

Recommended: Should I Go to Community College?

Tips for Finding a Satisfying Job Without a College Degree

It’s a good idea to start your job hunt with online search engines. Your search will likely lead you to large job sites that compile listings from industries across the country. If you’re looking for a particular type of role, you may want to try industry-specific job boards.

Networking and word of mouth are also good ways to find work. Reach out to people in your area who work in the industry you’re looking to join. Ask to meet with them to learn what you need to do to successfully apply for a job in that field, and put the word out that you are actively looking.

Just because a job doesn’t require a degree doesn’t mean you won’t be able to find one that pays well. Consider exploring high-paying trade jobs and high-paying vocational careers to find jobs that pay top dollar.

Once you begin to earn a salary, consider using a spending app to help you budget and track your money.

Recommended: 25 High-Paying Trade Jobs in Demand

Top 10 Most Satisfying Jobs You Can Get in America Without a Degree

Now for the tricky part: How to take a subjective measure like satisfaction and apply it to a list of jobs that don’t require a degree?

For this list, we looked at The Washington Post’s roundup of 10 industries that offer the greatest sense of well-being, which was based on data from the U.S. Bureau of Labor Statistics. Those fields include:

•   Agriculture, logging, and forestry

•   Real estate, rental, and leasing

•   Construction

•   Management, administrative, and waste

•   Information

•   Health and social assistance

•   Arts and entertainment

•   Transportation and warehousing

•   Wholesale

•   Retail

What are the most satisfying jobs in those industries? Read on for examples.

Forest and Conservation Workers

Forest and conservation workers typically help measure the state of forest and improve quality. They may work for state and local governments or for privately owned forest lands.

Median annual wage: $30,550

Job outlook: Employment in this industry is expected to decline 3% through 2031. However, there are still 2,300 openings for forest and conservation workers projected each year.

Real Estate Brokers and Sales Agents

Real estate brokers and sales agents help people who are looking to rent, buy, or sell properties. They tend to be self-employed and are usually able to set their own hours.

Median annual wage for real estate brokers: $62,010

Median annual wage for real estate sales agents: $48,340

Job outlook: Employment is expected to grow 5% through 2031, which is about as fast as average. There are a projected 54,800 job openings each year.

Construction and Building Inspectors

Construction and building inspectors work alongside or as part of a team to make sure that new buildings meet codes, ordinances, zoning restrictions, and match up with specifications made in building contracts.

Median annual wage: $61,640

Job outlook: Employment for this job is expected to decline 4% through 2031. However, there are a projected 14,800 new jobs annually.

Refuse and Recyclable Material Collector

As part of waste management infrastructure, refuse and recyclable material collectors collect and dump waste materials. Their job may include driving waste collection vehicles.

Median annual wage: $38,500

Job outlook: N/A

Library Assistant

Library assistants work in public, private, or university libraries helping to shelve and organize materials, assist patrons, and perform clerical tasks. The job typically requires a high school diploma, and may require a post-secondary certificate.

Median annual pay: $34,050

Job outlook: Library assistant jobs are expected to decline 4% through 2031, with a projected 24,000 openings each year.

Home Health Aide

Home health aides are among the fastest growing jobs. They help people with chronic disabilities or illness perform acts of daily living, like getting dressed and eating. They may work in a client’s home, a group home, or a day service facility.

Median annual wage: $29,430

Job outlook: Jobs for home health aides are expected to grow 25% through 2031, with about 711,700 openings projected each year.

Musician

Musicians sing or play musical instruments in recording studios or in front of live audiences in concert halls, clubs, and churches. Many singers work part-time.

Median hourly wage: $30.49

Job outlook: Employment for singers is expected to grow through 2031 by 4%, with 20,800 projected job openings.

Truck Driver

Truck drivers are charged with transporting goods from one place to another. It’s typically a pretty solitary line of work, but if being on the open road brings you happiness, it might be worth considering.

Median annual salary: $48,310

Job outlook: Employment is expected to grow 4% through 2031, which is nearly average for all occupations.

Material Recording Clerk

Material recording clerks help track product information and keep supply chains running and businesses on schedule.

Median annual wage: $37,870

Job outlook: Employment is expected to decline 3% through 2031, with 131,900 projected job openings each year.

Retail Sales Worker

Retail sales workers help customers in stores find the products they need and then ring them up at the cash register. They may also restock shelves

Median hourly wage: $14

Job outlook: Employment is expected to stay the same through 2031, with a projected 594,00 openings each year

The Takeaway

Not having a college degree doesn’t mean you can’t find fulfilling work. Satisfying jobs that don’t require a degree can be found in any industry, though certain roles may provide a great sense of well-being. Examples include a construction inspector, a real estate broker or sales agent, a retail sales associate, a musician, a truck driver, and a library assistant. As you hunt for a job, look for roles that match up with what you want in terms of the type of work, workplace, amount of social interaction, and wage requirements.

Once you find a satisfying job and start earning a paycheck, a money tracker app can help you manage your finances. The SoFi app connects all of your accounts in one convenient dashboard. From there, you can see all of your balances, spending breakdowns, and credit score monitoring, plus you can get other valuable financial insights.

Stay up to date on your finances by seeing exactly how your money comes and goes.

FAQ

What are the most satisfying jobs?

According to a Washington Post analysis of Bureau of Labor Statistics data, the most satisfying jobs can be found in the agriculture, logging, and forestry industry.

What jobs pay over $100,000 without a degree?

It is possible to find jobs that pay over $100,000 a year and don’t require a college degree. One example is a construction site manager or a senior real estate manager.

How can I make $100,000 a year without a degree

If you want to make more than $100,000 a year without a college degree, begin by researching jobs that offer high wages and only require a high school diploma. You may then consider taking an entry-level position that allows you to gain the skills and experience needed so you can advance to higher wages.

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Photo credit: iStock/Pekic

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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Ideas for making money at home are everywhere. And some of the best ones revolve around things you can do online or off, using skills and experience you already have.

Figuring out which money-making idea works for you often depends on how much time you have and how much extra income you’re interested in generating. You might start a side hustle, explore small business ideas, look for passive income options, or get a full-time remote job.

Need some inspiration? Here are more than 40 options to consider.

40+ Creative Ways to Make Money

Creative thinking is key to finding different ways to earn an income, especially if your goal is to learn how to make money with no job. Some of the easiest ways to earn extra cash from home are selling a service (i.e., your time and skills) or selling a product.

Can you earn money online without selling anything? Absolutely, and there are plenty of ways to do it. We’ve broken down some different ideas by category to help you find your perfect money-making idea.

Recommended: Free Credit Score Monitoring

Money-Making Craft Ideas

Selling handmade crafts can be an excellent way to turn a hobby into a side hustle or full-fledged business. You don’t necessarily need to be an expert artisan to get started.

Craft trends come and go, but here are some classic products to consider trying:

•   Crocheted items, such as scarves or baby clothes

•   Handmade soap

•   Handmade candles

•   Bath bombs and bath scrubs

•   Paper goods

•   Jewelry

•   Lip balms

•   Home decor items

•   Lamps and lighting

•   Pillows

•   Vinyl stickers or decals

•   Handpainted signs

•   Hair accessories

•   String art

•   Art prints

•   Tote bags

•   Wreaths

•   Holiday decorations

•   Bookmarks

•   Keychains

•   Dog bowls and other pet accessories

Once you zero in on your craft idea, think about how much time you’ll need to make each item and how much money you’ll need to spend on supplies. This can help you figure out how to price each item and how much profit you stand to make. Tip: Do some online research and see how other sellers are pricing and marketing their items.

Another important consideration is where you sell your goods. Luckily, there’s no shortage of options — here are some to consider:

•   Facebook Marketplace

•   Local Facebook bargain or community groups

•   Etsy

•   Amazon Handmade

•   aftcra.com

•   Craigslist

•   eBay

•   Your own website

•   Craft fairs

•   Local boutiques

If you’re selling your crafts online, remember to factor in shipping costs, taxes, and any fees the platform charges when setting your prices. Otherwise, you could end up shrinking your total profit.

Money-Making Website Ideas

You don’t need a website to earn extra cash from home, but having one could open up new money-making opportunities. To set up a website, you’ll need to find a hosting company and choose a domain. Your domain is your site name.

Once your site is set up, there are several ways you could use it to make money:

Selling products

A website is a great way to sell products you create, such as an e-book, digital printables, or an online course. If you’re selling handmade items, like crafts or clothing, you could set up a shop page on your site instead of using a third-party selling platform.

Selling services

If you don’t want to make a product, you could try selling a service instead. For example, you might use a website to offer services such as writing, photography, graphic design, tutoring, or online coaching.

Affiliate marketing

Affiliate marketing means recommending products and services sold by other people, then collecting a commission when the person you referred makes a purchase. For instance, if you have a pet blog, you could include an affiliate link to your favorite dog food brand. When someone clicks the link and buys the dog food, you make money.

Ads

Hosting ads on your website is another way to potentially earn extra cash from home. Every time someone visits your site and views an ad, you make money. The more traffic — or views — your website gets, the more you could earn.

Sponsored content

Sponsored content is an article, video, social media post, or other type of content that someone pays you to create and post. So again, say you have a pet blog. A dog food company might reach out and ask you to write a sponsored post reviewing their newest product. In turn, they pay you a flat fee for writing and publishing the post. You could also make money if your readers buy the product through your affiliate link.

If you’re interested in making money with a website, it helps to learn more about how to drive traffic. For example, it’s a good idea to know how search engine optimization (SEO) works and how to use it to drive people from Google or other search engines to your site. You may also want to consider how you can use social media to send additional traffic your way.

Money-Making Business Ideas

Thinking about becoming your own boss? If you prefer online business ideas, there are plenty of opportunities to consider, including:

•   Coaching or consulting

•   Interior design

•   Freelance writing or editing

•   Starting an e-commerce store

•   Virtual accounting

•   Transcription services

•   Teaching online through a platform like Outschool

Now, what could you do offline to make money from home? Some small business ideas you may pursue include starting a home baking business, offering childcare services in your home, or tutoring.

If you’re interested in starting a home business, it’s important to check into any legal requirements in your state first. For example, if you want to launch a baking business from home, you might be subject to local or state restrictions on home kitchens. The same applies if you want to care for children in your home. Once you reach a certain number of children, you may need to register with the state as a daycare center.

Side Hustle Money-Making Ideas

There are lots of low-stress ways to earn money. Will these opportunities make you rich? Not necessarily. But they could be a good way to earn some extra cash in your spare time without a lot of effort.

Here are some ideas to explore:

•   Taking online surveys

•   Joining an online focus group

•   Selling things you no longer need

•   Getting paid to watch videos, play games, or read emails

•   Customer service representative

•   Earning free gift cards or money with cashback apps

•   Becoming a mock juror online

•   Getting paid to test websites or apps

Home Jobs to Avoid

While there are lots of ideas for making extra money, some are better than others. Here are ones to avoid:

•   Illegal side hustles or jobs

•   Work-from-home job scams

•   At-home jobs that require a lot of work for little pay

•   Pyramid schemes or multi-level marketing (MLM) programs

There’s a simple rule of thumb to keep in mind when researching ways to earn extra cash: If something seems too good to be true, it probably is. Words and phrases like “guaranteed,” “make money while you sleep,” or “easy money” are often telltale indicators that an at-home job opportunity isn’t everything it seems. It’s also a good idea to be wary of any work-from-home job that requires you to pay fees or a deposit up front before getting started.

Tips for Making Money From Home

If you’re pursuing money-making ideas from home, it helps to know some of the do’s and don’ts so you can avoid job scams while maximizing your earning potential.

When exploring ways to make money from home, do:

•   Look for opportunities that fit your skill set or interests

•   Consider how much time you can put in to making money

•   Weigh any up front investment of time or money that might be required

•   Remember to keep track of work-related expenses using a spending app

•   Report the income you earn on your taxes if you’re required to do so

When looking at ways to make money from home, don’t:

•   Assume it’s easy to make money online

•   Give out personal or sensitive information to people you don’t know

•   Fall for work-from-home job scams

•   “Forget” to report the money you make on your taxes

•   Get frustrated and give up if you’re not making money right away

Also, don’t be afraid to try and try again if something isn’t working out. After all, there’s no single option for how to make extra income from home. You may start off doing one thing and find that another side hustle or job idea is a better fit. And you don’t have to limit yourself to just one thing either — having multiple side hustles can mean multiple streams of income.

The Takeaway

Whether you’re selling goods online, starting a business, or using your website to turn a profit, there’s no shortage of ways to make money from the comfort of home. In fact, you may discover there are multiple opportunities that fit your schedule and interests. As you’re researching your options, factor in how much time and money is required. It’s also a good idea to be wary of opportunities that sound too good to be true (they probably are). Once you start drawing an income, don’t forget to report it on your taxes, if you’re required to do so.

Need a simple way to get a handle on your income and work-related expenses? Using a money tracker app like SoFi makes it easy to see where you are financially at any given time. You can monitor your credit score, see what you’re spending, and view the progress you’re making toward your goals at no cost just for being a SoFi member.

Stay on top of your finances by seeing exactly how your money comes and goes.

FAQ

How can I make $100 a day from home?

Some of the best ways to make $100 a day from home include taking surveys for money, using cashback apps to shop, offering freelance services, and selling printables or handcrafted items online. You can also make $100 a day from home by flipping items you no longer need on sites like eBay, Facebook Marketplace, or Craigslist.

How can I make fun money?

If you just want to make some extra money to spend on “fun,” some of the easiest ways to do it include selling things you no longer need, doing odd jobs in your spare time, or getting paid to take surveys and play games through various mobile apps. You can also research weird ways to make money, like donating plasma or selling your hair.

How can I make money just sitting at home?

Some of the best ways to make money sitting at home are passive income ideas that require little to no work. For example, you may be able to make passive income by investing in stocks that pay dividends, setting up an affiliate marketing website to earn commissions when people shop at your affiliate partners, or opening a digital printable shop on sites like Etsy.

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Photo credit: iStock/Amarr_RT

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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Who needs a vacation? You do! The average American has almost 10 unused vacation days sitting around, according to a recent Qualtrics survey.

Why don’t we take those days off that we earned? There are a variety of reasons, such as work deadlines, childcare issues, and, of course, money…or lack thereof. Travel can get expensive, especially if you are craving a trip that involves a pricey plane ticket.

But whether your travel dreams have you strolling through Paris, eating dozens of flaky croissants, or cozied up in a cabin at a stunning state park, there’s a method to making it possible. Smart budgeting and saving tactics can help you gather the funds you need to use the PTO that’s coming to you.

Read on to learn:

•   How much to save for vacation

•   How to start a vacation fund

•   How to grow your travel fund.

The Importance of Emergency Savings

Sure, it can be tempting to pick up on a whim and travel somewhere, without even glancing at your checking account. But that can be somewhat risky business, financially speaking. And so can prioritizing a vacation fund when you don’t have much money in the bank.

Before you think about funding a vacation, you should consider saving for life’s emergencies first. And a prime way to do that is by establishing a healthy amount of money in your emergency fund.

Recommended: How Much Should I Have In an Emergency Fund?

To build an emergency fund, a general rule of thumb is to have enough money to cover at least three to six months’ worth of expenses socked away. It’s totally okay to start off with a small fund and build your way up over time. Even depositing $20 per paycheck into the fund can be a wise start. This account may be for a true emergency, such as a car breaking down, an unexpected move, paying rent after being laid off, or a visit to the emergency room. What isn’t a good use for your emergency fund? A sale on plane tickets to Hawaii doesn’t count, sorry to say.

Beyond emergency funds, it may be a good idea to ensure you’ve paid off any high-interest debt before allocating your money toward a vacation.

How Much to Save for Vacation

Once your emergency reserves are on good footing, you can take the first step in saving for a vacation by opening a separate account earmarked for travel. Keeping it in the same bank as the rest of your money could allow you to easily keep track of how much you’ve saved. It can also make it a bit simpler to transfer extra cash into your vacation account.

•   Pro tip: Many financial institutions will let you name the account, which is seriously worth doing. It might be harder to be motivated to contribute to account XXX924 than your “Valentine’s Day in Paris” Fund. Go ahead, and give it a good name so you know what you’re working towards.

•   Another smart move is to automate savings. You can set up automatic deposits into this account each week or month, depending on your pay cycle and what you’re comfortable with. You could even allocate a specific amount to be auto deposited right from your paycheck. That way, it’s like you never even hit your checking account, where it can tempt you to go shopping and have a fancy dinner. You won’t see the money until you’re ready to go on vacation.

Now, about how much to save. Here are a couple of approaches to try:

•   Some people like to establish an amount of their paycheck to siphon off into travel savings. Perhaps it’s 5% of your take-home pay, or an amount like $50. Once it hits a certain figure ($500 or $1,000), you can then dig in and start your specific planning.

•   For many, though, building a budget makes the dream real. You can scout out transportation and lodging costs, among other items by doing online research. You can add food, entertainment, excursions, and other potential expenses and come up with the figure you’ll need. Then divide that by how long you have to save, and you’ve determined your monthly savings goal.

   So if you need $2,400 for your trip and have eight months till the date you want to travel, you’ll need to set aside $300 per month.

Doing Some Research on Your Dream Vacation

As briefly mentioned, research can be the foundation of your trip planning. And it’s often a really fun enterprise, whether you are a moodboard or a Pinterest sort of person. Decide what kind of vacation you want to have — be it a surf, snow, hiking, adventure, leisure, city, or country escape — then start looking into destinations that suit your desires. Maybe a friend took a cool 30th birthday trip to Iceland that you want to emulate, or you are in search of a few budget-friendly spring break destinations. Start searching! Some guidelines:

•   Once you pick a spot, you can look at things like average hotel pricing, average food cost, transportation costs (including the flight, drive, boat, or train there as well as a car rental, taxi, or ridesharing service for when you’re there), average excursion cost, and add in a bit extra for entertainment expenses.

•   Don’t forget to budget for hidden fees, such as resort fees, rental fees, and taxes. You may want to call the hotel’s concierge to get those numbers if they aren’t displayed, as they can add up rather quickly. Also, you may want to ensure your number crunching includes an “extra” slush fund for those “just in case” moments.

•   If hotels look to be a bit too pricey in your intended destination, you could always look for cost-cutting accommodations. There are always hostels, and some are adding amenities these days that make them less barebones.

•   You might consider places that will let you stay for free in exchange for services. You could try signing up on websites like Rover to swap dog sitting services in exchange for a free place to stay. Websites like Mind My House also bring together people looking for house sitters and those looking for accommodations. Check out the listings and see if any fit your vacation needs.

Recommended: Tips for Finding Travel Deals

Saving Consistently into Your Travel Fund

If you have an estimate of how much it will cost, now you just have to figure out how to save for a vacation. Consider these ideas:

•   Dividing your projected vacation cost by the months you have to save and stashing cash away is a tried-and-true method. By doing so, you can watch your trip fund grow and get you closer to your trip.

•   Some people like to use round-up apps or the “change jar” method to also boost their savings.

How to start a vacation fund is simple: You make that first deposit, But next, learn some other ways to keep building towards your travel goal.

Using Windfalls to Your Advantage

While working toward your vacation, you could use any financial windfalls to your advantage. Consider these sources:

•   A tax refund

•   A bonus at work

•   A raise at your job

•   Proceeds from selling your stuff, like electronics, kitchenware, or clothes you no longer need or use.

Putting this money into where you keep a travel fund is a great way to boost your savings.

Adding a Side Hustle to Your Routine

You could always create a windfall for yourself by taking on a low-cost side hustle as you save for your vacation.

Working a side job or taking on freelance work you have the skillset for could help you save money faster to get the vacation show on the road. And the best part is, if you save using your side gig money, you won’t even need to touch your savings or primary paycheck.

Some pointers:

•   Think about what you’re after: Something that will help your career in the long-term, or perhaps something that will simply earn you a bit of quick cash?

•   If you’re hoping it could help your career growth, you could try tackling a side job that’s connected to your goals. For example, if you’re hoping to be a writer, scout article writing or copywriting gigs. Want to be a photographer? Build a website and offer your services.

•   If it’s just quick cash you need, think local and urgent. Could you sub in at a busy cafe on weekends or do odd-jobs through various apps like TaskRabbit or Fiverr?

•   Decide how much you’re willing to put into a side hustle. Often, side gigs require you to work before or after your regular nine-to-five, which could mean giving up your nights and weekends. But, again, all that extra work could pay off for either your career or your short-term goals.

Making a Little Extra Cash While on Vacation

You could always try putting your assets to work for you while you’re away to help pay for your vacation. If you own your home or apartment or your landlord allows it, you might rent your space on websites like Airbnb or VRBO. You may be able to earn a hefty sum.

Have a car? That can be rented out on websites like Turo, too.

The Takeaway

If you’re planning a vacation, dreaming about it and planning where you’ll go and what you’ll see can be a fun pursuit. But you’ll also need to save for it. That can be accomplished by saving from your paycheck, stashing away any windfalls, and putting energy towards earning additional money.

As you save, you need a good place to keep your cash securely and help it grow. The SoFi Checking and Savings Account can be a smart option. You’ll be able to easily keep track of progress on each of your vaults (including one that’s your vacation fund), you’ll enjoy a competitive annual percentage yield (APY), and other benefits. And when it’s time to travel, you can use ATMs within the Allpoint® Network without any fees.

SoFi Checking and Savings: The smart, simple way to save.

FAQ

How does a vacation fund work?

A travel fund is an account that helps you save the amount needed to take a trip. Typically, you add to it regularly (manually or by automatically depositing some of your paycheck) until you reach your goal amount. Having the money in an interest-bearing account can help you grow your money more quickly.

Where should I put vacation money?

If you want to grow your trip fund money, it’s wise to put it in a savings account where it’s liquid but earning interest. Look for a secure bank that offers a healthy annual percentage yield (APY). These high-interest or high-yield accounts are often found with no fees and low or no minimum balance requirements at online banks. Because these banks don’t have bricks-and-mortar locations, they can pass the savings onto customers.

What is a reasonable vacation budget?

A reasonable vacation budget will depend on your particular plans. Are you going to a lavish resort in the Mediterranean for two weeks or to a cabin at a local park for the weekend? Whatever your travel style may be, making a budget is critical. By researching transportation, lodging, food, entertainment, and excursion costs in advance, you can likely figure out your savings goal.

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.00% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

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