Planning a Vacation? The Science of Successful Savings Strategies
My wife and I leave for Door County, Wisconsin in a couple of weeks. Our vacations aren’t limited to the summer because we’re now empty nesters. Perhaps that’s the case for you, and you're looking for ideas for an off-season vacation like Hope and I. If you’re beholden to a school calendar and need to start saving for next year, this post is for you, too.
We plan and take multiple vacations each year because we value experiences and quality time much more than “stuff.” We are thoughtful about how we choose our next destination and how we save together to make it happen.
As a Certified Financial Therapist™ and Accredited Financial Counselor®, I am trained to understand the financial hacks and psychology behind the money decisions that make us happiest in our relationships.
In this post, I will share evidence-based savings and planning strategies to help you and your partner prepare for your next vacation.
Start with a Shared Vacation Goal
Hope and I like to start the vacation planning process with a walk. We talk about where we want to go, why, and when. It’s a shared dream: a chance to pause our work, freeze time together, escape our daily routines, and experience a rejuvenating new place.
After picking a place to go, we start planning with science-backed planning and savings strategies.
Behavioral research shows that people who set clear, time-bound goals are far more likely to achieve them, particularly when they frequently monitor the progress toward that goal. For big vacations, like our upcoming 25th anniversary, this means setting a savings goal well in advance and reviewing our progress.
Another reason to start early is the joy of anticipation. Research by Dr. Leaf Van Boven and Dr. Laurence Ashworth found that people often experience as much or even more happiness from anticipating a trip than from taking it. Hope and I are already excited to get back to Hawaii, and we talk about what we want to do while we’re there. Just talking about it makes us smile. Keep this in mind in the months leading up to your next vacation; make it a point to talk about it.
Create a Shared “Vacation Account” or “Joy Fund”
A mistake I often see when first meeting clients is that they don’t connect goals to accounts. Here are three reasons it’s effective to create an account dedicated to reaching your goal and label it after your goal.
Triggers salience bias
Salience bias refers to our tendency to focus on information that stands out, whether due to its prominence, emotional impact, or vividness, often at the expense of other less noticeable or less emotionally charged details.
Naming your account reminds you what you’re saving for, prompting people who overspend to pause because they see their savings account as a second checking account.
Reduces impulse raids
Jason Chatfield illustrated the image above for a book project we are working on with J.R. Havlan. It’s from one of our short stories, but it also reminds us of the guilt we feel when we take money from a goal we've set and are working toward together.
Related: Stay up to date with our book and get weekly ideas for managing money and the home as a team by subscribing to the Modern Husbands newsletter.
Shifts emotional framing
Not everyone gets excited about saving. Many see it as a sacrifice because it feels restrictive. But when the account feels less abstract and has a purpose, saving can feel liberating.
Related: Money Marriage U Save
Here is How to Get Started:
As you can see above, over half of those saving are doing so in accounts that pay a yield of less than 1%. Their dollars are losing value to inflation as they save. Instead, open a high-yield savings account and nickname it something motivating that reminds you of what you’re saving for.
I recommend using Raisin because it’s the fastest way to find the highest-yield savings account. That’s what my wife and I do. Be sure to set up automatic transfers from paychecks every month.
Talk About Spending Priorities Before You Book
Once you know how much you can save, decide how you want to spend it. The key to preventing financial tension is having an honest conversation about what matters most to each of you.
Discuss whether you want comfort or adventure, a nice hotel, or special experiences. Ask each other to describe what“relaxing” looks like to each of you. For my wife and me, relaxing looks like disconnecting from technology and having opportunities to immerse ourselves in nature. For my brother and his family, it means sitting on a beach. For my father, it means cycling across the country.
Relaxing can look different for each person, so have a clear picture of how you and your partner can relax together.
Some couples aren't perfectly aligned on what relaxing looks like. Sometimes one partner sees a vacation as about luxurious rest while the other sees it as an opportunity for exploration and new experiences. I suppose that’s why we love Hawaii and the Swiss Alps; they give us both. Lodging is upscale; daytime time in nature is rugged and raw.
Working through the process of deeply understanding what your partner wants is what financial therapists call financial intimacy — the trust and openness that comes from understanding each other’s values and fears around spending. When couples share this level of honesty, they create a stronger sense of partnership.
Budget the Whole Experience, Not Just the Flight and Hotel
Most couples budget for the big items like flights and lodging but forget about everything else. Then life sets in, and you remember you need to pay for a pet sitter and restaurants each night, unless you choose an all-inclusive experience.
To avoid surprises, make a list of every category you can think of. Include:
Meals, drinks, and snacks
Ground transportation and parking
Tipping and excursions
Pet or plant care back home
Travel insurance
Souvenirs or shopping
Post-trip expenses like laundry or photo printing
After building a realistic estimate together, my wife and I always add a 20 percent buffer for unexpected costs.
Plan for Joy, Not Just Savings
A healthy vacation budget should feel like teamwork in pursuit of joy. Use the anticipation research to your advantage. Mark milestones as you save — for instance, when you reach 25, 50, and 75 percent of your goal. Celebrate each one with something small, like a special dinner at home or a toast with your favorite drink.
Financial Teamwork Is Relationship Maintenance
Family vacations and couple vacations are very different experiences. If you have kids, I strongly urge you to take at least one trip together without them.
Research has confirmed common sense: traveling and vacationing with our partners is good for our health and relationships. World-renowned relationship expert Dr. John Gottman recommends the 7-7-7 method: weekly dates, bimonthly getaways, and biannual trips.
Planning, saving for, and taking a vacation together is relationship maintenance and should be a budget priority.
Follow Modern Husbands
Modern Husbands Podcast
Winning ideas from experts to manage money and the home as a team. 2023 Plutus Award Finalist: Best Couples or Family Content
🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Apple.
🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Spotify.
Modern Husbands Newsletter
Click here to subscribe for winning ideas to manage money and the home as a team.
Original Post: 1/5/26
Updated Post: 9/23/26
