The Vacation Account

Ashley and I are fans of INGDirect, and online bank, which usually has higher interest earnings than a traditional bank (though in the recent economy has caused the interest to take a hit). One of the reasons we like ING is because it takes about a week for withdrawn funds from ING to arrive in your traditional bank, so you really have to plan your finances.

The best thing is that you can open multiple savings accounts and label them for what you want the money to go toward. Thus, the vacation account!

Everyone has their priorities, and travel is one of ours, so we opened a vacation savings account that Ashley and I both deposit into monthly, about $100-$200 a month.

People ask us all the time how we can travel around the world. Ashley and I always say that everyone has their priorities that they choose to spend money on. We like to travel. Consequently, we don't go out to eat in nice restaurants, we don't see movies (outside the cheap theater), we don't have nice clothes or nice cars, etc.

In the end, Ashley and I decided that travel is an important enough part of our life that we have a savings account that we set aside money in so that we can travel without stressing about how to pay for our adventures. One of the best financial decisions we have made.