Summer is on its way and that means vacation season is upon us! Vacations can be a huge source of emotional and financial pressure on the modern family.
While vacationing is a great way to spend time with friends and family, having the vacation follow us home is never a good thing for our families. One week shouldn’t mean months of emotional and financial strain. Below we have provided some tips that have helped the members of our team and clients to reduce the expenses of their vacations.
Staycations
While we may picture the perfect vacation as a relaxing week on the beach, staycations are a great way to reduce expenses while having a great time! Most cities offer a variety of festivals, free activities and discounts throughout the summer. Both transportation and housing expenses are dramatically reduced by staying home!
Chances are you will discover some great places and build memories with very little pressure on your bank account!
Take Advantage of Friends and Family
Family and friends are great resources when planning a vacation. Don’t underestimate the advice of people who have been-there-done-that.
Another great way to cut costs is to stay with friends and family! This allows us the opportunity to still vacation, even if we can’t afford the expensive resorts or hotels.
Plan, Plan, Plan
Despite the current ‘pick-up and go’ attitude when it comes to vacations, in reality a great vacation requires a lot of work and planning. The best way to save money on a vacation is to plan in advance and research all the options available. Websites like Groupon can also be great resources for saving money.
Save Every Month
If vacationing is a priority for our families, we need to prioritize it in our finances! The best way to do that is to set aside money each month with the express intention of using it for vacation. Even if it is just $3.00 a day, in one year it becomes $1,000! Imagine how much less stressful planning a vacation would be with a $1,000 head start!
Plan for Spontaneity
Vacations often mean unexpected souvenirs, gifts and dinners out. Rather than facing an unexpected bill, give margin when planning for the vacation. Depending on where and when the vacation is, giving ourselves an extra $300-$500 can be invaluable and allow in the moment freedom to splurge.
The key to a successful vacation is planning and preparing for the type of vacation we can afford. There is no vacation too big, or too small which does not require planning or investigation into more cost effective options. Don’t be afraid to utilize the opportunities, coupons and people who can make traveling more cost effective.