After a few challenging years of the pandemic, most of us are ready to venture out and plan a budget-friendly vacation. While traveling freely is on everyone’s mind, so are the financial uncertainties many households are experiencing. With rising prices on gas, travel and other items, money might not be going as far as it did in previous years. Before you hit the open road this summer, check out a few budget-friendly vacation tips from GreenPath Financial Wellness.
Do a budget “gut check”
As early as you can, take a budget “gut check” before you pack up the kids and the car. Get a handle on your monthly income and typical expenses, including credit card debt or other loan payments. Once you have a complete picture of monthly income, expenses and debt, consider how much you can set aside to build up vacation savings.
Plan affordable fun
Planning can begin by researching destinations and browsing travel sites online. What is the most fun for you and your loved ones? Check if there are special deals on those activities or events. Many popular destinations are offering post-COVID travel deals, so take the time to get informed.
Look at lodging
Over the last decade or so, there has been an explosion of affordable, alternative vacation accommodations. Want an “in-home” vacation experience? Live like the locals do by visiting websites, such as Airbnb, to find that type of lodging. Some options come with a backyard, bikes, boats or even a kitchen to prepare meals to avoid costly add-on expenses. Extra expenses, even small ones, add up quickly.
Don’t Forget Tried and True Travel Tips
For a budget-friendly vacation, don’t forget those tried and true ideas like redeeming points on a rewards credit card, like TFCU’s Visa Platinum. If you have the flexibility, consider a last-minute trip. Some last-minute cruises, hotel, lodging, attraction and airfare deals might mean leaving as soon as 24 hours after you lock in the deals, so keep your suitcase packed. Many people have had to hold off on making travel dreams come true. Keeping in mind the ideas listed above can help make those dreams possible. If a vacation is on your wish list, by planning ahead and figuring out your finances, it is possible to take a trip and make it budget-friendly.