Financial Essentials

Your Dream (Budget Friendly) Summer Vacay

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As the temps warm up, you’re probably looking forward to sandy beaches, adventures, relaxing poolside, or hugging family you may not have seen for years. After the couple of years we’ve had, you deserve a vacation! Now that traveling is picking back up and considering travel prices, it’ll take some extra effort to plan travel that doesn’t take a massive chunk out of your wallet. Keep these tips in mind as you plan.

Set a budget. All good plans begin with budgeting. For travel, some buckets to include are transportation, food, entertainment, tips, and extras, like souvenirs. Determine how much you can spend ahead of time, so you don’t overspend while away. Take advantage of travel rewards credit cards to make your money go further.

Pick your transportation carefully. With gas inflation, don’t assume that driving will save you money over flying. Search a flight aggregator site to find affordable options, then use GasBuddy’s Trip Cost Calculator to determine how much gas you might spend by driving. If you do end up driving, use an app like GasBuddy or Gas Guru to find the cheapest gas options along the way. A tip when searching for flights is to do so incognito on your computer, so travel sites don’t increase flight prices based on your searches.

Be flexible. If your trip isn’t tied to a specific event, being flexible with your travel can help you take advantage of cheaper days of the week to leave and better options for spending less money on lodging.

Splurge for trip protection. Now is an excellent time to consider spending a little extra on travel protection. The pandemic isn’t entirely over yet, and you never know what could pop up between now and when you leave. Getting insurance on your plans — or checking with your credit card for your cancellation options — could help you recoup any losses.

We hope any upcoming travel plans go off without a hitch and you enjoy some time away with your loved ones without breaking the bank.

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