Get Ready for Takeoff: How to Open an Online Savings Account for Travel and Vacations By EMMAAD SHAKEEL The difference between dreaming of a vacation and booking the tickets often comes down to one thing: a dedicated travel fund. Too often, vacation costs get mixed into general savings or, worse, put on a high-interest credit card. The smartest way to save for your next getaway is by using a High-Yield Online Savings Account (HYSA) as a travel-specific Sinking Fund . It keeps your goal separate, liquid, and safe, while the high APY ensures your trip is partially funded by free interest! Here is your four-step flight plan for setting up your online travel savings account. 1. Step 1: Budget and Define Your Goal (The Sinking Fund) Before you can open the account, you need a precise number to save for. This is where the "Sinking Fund" approach begins. A. Research the Real Cost Break down your trip into categories and research the estimated cost for each. Category Example Estima...