Many of us enjoy going on vacation. I love to travel, and I love going on trips. With summer coming up, when my son and husband are out of school, it’s fun to plan vacations. However, when planning a vacation, you have to do more than just consider the logistics of the trip. You also need to consider the financial aspects of your vacation.
Vacations can get pricey, especially if you add in airfare and hotel stays. It can be tempting to put the costs related to a vacation on your credit card, but it’s best not to. With some planning, you can take a vacation without borrowing money to do it:
Sometimes, all I need is a small getaway. A staycation doesn’t always mean that you stay in your hometown. A staycation can involve driving to a place a few hours away and staying a night or two. The idea is that you remain within a few hours’ drive of your home. I like to think of camping as a staycation as well. A mini-vacation or a staycation is often a little easier to budget for than a big trip, and there are fewer things that can go (expensively) wrong.
Of course, sometimes it’s fun to go on a big vacation. If you want to do this without borrowing money, though, you will have to plan ahead. You might even need to save up for more than a year, if the vacation is going to be really great. This can be a great opportunity for your family to draw closer together by working toward a shared goal. Here are the steps to follow as you prepare to save up for a big vacation so you don’t have to finance it:
While you are planning this far in advance, it is also a good idea to look for discounts and deals. Set fare alerts and deal alerts so you know when good deals come up. Booking in advance, using money from your vacation fund as it grows, can help you save. If you have a rewards credit card, you can plan your budget so that you buy groceries, gas, and other regular purchases with the rewards card. Pay it off every month so you don’t have to deal with interest, and let the points add up. Do it right, and some of your travel will be free.