Managing Your Travels and Savings
Enjoy the opportunity to get away while also finding ways to keep costs in check.
As the middle of summer approaches, you may be looking to go on a last-minute trip or plan one for the near future. Enjoy the adventure, but keep in mind that there are things you can do to help make the most of your time and money without sacrificing your ability to continue saving for your future.
Keep travel costs in mind.
Think about how much you can and want to spend on a vacation by assessing what financial goals you have and haven’t met during the year, as well as your regular expenses. Consider how expensive a vacation you can realistically afford. Of course, the longer the vacation, the more money you’ll likely spend, and international travel is generally more costly than domestic. Additionally, you may find cost-saving options depending on what month, and even days of the week, you plan to vacation. The fall and winter months are usually cheaper than summer, and air travel is typically less expensive midweek than over the weekend.
Consider how you spend, and look to find ways to reduce costs.
Once you’ve booked your flight or loaded up your car, set aside a budget for how much you plan to spend on accommodation, food and any other parts of your trip. You can save money on a meal, for example, by staying at a hotel or inn that serves a complimentary breakfast. And if you plan to take a guided tour or visit historic sites or theme parks, keep in mind that these activities all add to the overall cost of your trip. Find out if there are deals that you can take advantage of, such as discounted prices on certain days of the week or times of the day.
With careful planning, you can still enjoy a memorable vacation while keeping costs down and arrive home knowing you haven’t put your financial future on the line.