On today’s show, Dave and Reb look at the practical details around planning and saving for your vacation. No matter the season, these hopes and dreams for time away with family are a part of your financial journey.
Since summer vacation opportunities are all around us and inviting us into the warmer weather and time with our kids, it is important to have discussions within your family about your hopes and ideas for time together.
“If you haven’t planned for it, then you need to talk about what kind of vacation is possible, and if you have the cash available to pay for a vacation this summer,” Reb says. “If you haven’t planned and don’t have the cash, you need to talk about that within your family, and then start planning for it maybe a few months down the road.”
Making weekly or monthly automatic payments into a “vacation fund” or “vacation envelope” is one of the keys, alongside making intentional plans for what you want to do.
Another key issue in vacation planning is staying focused and not comparing yourself with your friends or neighbours.
“While social media is full of the great pictures our friends are taking on trips around the world, this can create discontentment within ourselves and a desire to spend money we do not have to create a similar experience we see others having,” Dave says. “It is hard sometimes, but we have to stop looking at what others have, and focus on our own lives, opportunities, and what is possible for us with our cashflow.”
Today’s show is sponsored by notmine.ca – an online community that exists through the ministry of Financial Discipleship Canada where you can find a place for conversation, a place to learn and a place to grow in your financial journey and relationship with God. Email info@notmine.ca for more information, or visit the website notmine.ca.