Start Saving for Your Summer Vacation Now: A Step-by-Step Guide

Home Blog Start Saving for Your Summer Vacation Now: A Step-by-Step Guide

Posted On: March 4, 2025 by Peoples Bank of Kankakee County in: Budget

Dreaming of a summer getaway? Whether you're planning a road trip, a tropical escape, or a fun-filled family adventure, setting aside money now can make all the difference. The key to a stress-free vacation isn’t just picking the perfect destination—it’s making sure you have the funds to fully enjoy the experience.

By starting your savings plan today, you can avoid financial stress, steer clear of unnecessary debt, and focus on making unforgettable memories. Here’s how to create a simple, effective plan to fund your summer vacation without breaking the bank.

Step 1: Determine Your Vacation Budget

Before you start saving, get a clear picture of how much your trip will cost. Consider these essential expenses:

Transportation – Flights, rental cars, gas, or train tickets
Lodging – Hotels, vacation rentals, or campgrounds
Daily Expenses – Meals, snacks, drinks, and tips
Activities – Excursions, attractions, guided tours, or entertainment
Extras – Travel insurance, souvenirs, baggage fees, and emergency funds

Once you have a rough estimate, add a little buffer for unexpected costs. Now you have your savings goal!

Step 2: Set Your Weekly Savings Goal

Breaking your vacation cost into weekly savings goals makes it more manageable. Here’s an example of how much you should save per week to reach your goal by June:

If the weekly amount seems too high, don’t worry! There are ways to adjust your budget and boost your savings.

Step 3: Save Smarter with a Dedicated Vacation Fund

One of the best ways to stay on track is by keeping your vacation money separate from your everyday accounts. Peoples Bank offers high-yield savings accounts and Money Market accounts designed to help your money grow while you save.

Open a dedicated savings account to keep vacation funds untouched.
Automate deposits so a portion of each paycheck goes directly into your vacation fund.
Save windfalls—tax refunds, bonuses, or unexpected cash can give your fund a quick boost.

Step 4: Cut Costs & Boost Savings

Need to free up extra cash for your vacation? Here are a few ways to make saving easier:

Budget Smarter

✅ Track spending to find areas where you can cut back.
✅ Cook at home more often to reduce dining-out expenses.
✅ Cancel unused subscriptions and memberships.

Earn Extra Income

???? Sell unused items—turn clutter into cash!
???? Pick up a side gig or freelance project for extra savings.

Reduce Travel Costs

✈️ Be flexible with travel dates to find the best deals.
???? Consider budget-friendly accommodations like vacation rentals or hostels.
????️ Pack snacks and cook some meals instead of dining out every day.

Step 5: Stay Motivated

Saving for a vacation requires patience and discipline, but staying motivated makes it easier. Try these tips:

???? Create a vision board with pictures of your destination.
???? Celebrate savings milestones by treating yourself to something small and affordable.
✈️ Remind yourself of the goal—financial peace of mind during your dream vacation.

Make Your Summer Vacation a Reality

By starting your savings plan today, you’ll be well on your way to an amazing and stress-free summer getaway. Peoples Bank is here to help you make smart financial decisions so you can enjoy life’s biggest moments.

Open a dedicated savings account today and start saving for your summer vacation!

???? Learn more about our savings options

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.