If you’ve been dreaming of a summer getaway, now is the time to put those plans in motion! The kids are out of school, the days are longer, and everyone is up for a break. If your affordable summer trip is a weekend away to visit family or a two-week European excursion, you’re still going to need to consult the numbers first. Here’s how to plan a vacation that will keep your budget in mind:
1.) Set a budget
You’ll want to start off with an overall number. You can decide later how far that number needs to stretch. Talk it over with your spouse or partner to come up with a price you’re both comfortable with. Whether you’ve got that money set aside already or you’re putting a plan in place to set something aside over the next few months, that number will help guide your decisions and make the planning go much smoother. Pay for as much of the trip in advance as possible to make sure you’re not strapped for cash when your vacation rolls around.
2.) Shop for the off-days, weeks, or season
For many destinations, summer is peak season. But do a little research and you can find dips in prices. For example, you might want to avoid Fourth of July weekend, when many hotels up their costs. Warm-weather locations might offer better deals toward the end of the summer, though you might have to deal with sweltering temperatures. The same goes for deals on flights. Buying airline tickets for a weekend flight is most likely going to be more expensive – even significantly so – than a midweek flight. Taking those cost breaks into consideration could save you hundreds or thousands on your trip. Price comparison sites, like Kayak, Expedia, and Airfarewatchdog, can help you find the best deals.
3.) Prioritize your itinerary
Do you have five-star taste on a three-star budget? Pick one night to splurge on a top-notch hotel and go for the budget-friendly spot the rest of the trip. Or stay with family nearby, but choose a few amazing restaurants, shows or sights to see while you’re there. If you’re looking to relax on a beach, there are plenty of beautiful beach rentals or budget hotels on incredible beaches that will fit your price range.
4.) Try a staycation
You don’t have a book a flight to get that vacation feel. Plan one or two fun things to do in your area a day – museums, sporting events, restaurants you keep meaning to try. You can even spend the night at a nearby hotel, no plane ticket required. An affordable summer trip can be right in your own backyard.
5.) Use perks to your advantage
If you have a credit card that rewards you in airline miles or are part of a hotel chain perks program, don’t let those points go to waste. If you’re a frequent traveler, make sure you sign up sooner rather than later so you get credit for all the trips you’re booking. If you rarely travel, make sure whatever credit card you’re using has a great rewards program. That can help you stash away money throughout the year for your next trip (or whatever you’re saving for.)
6.) Plan a group outing
Getting a group together can dramatically cut costs on accommodations. Splitting a rental property can end up being much cheaper than paying for a hotel room. Check sites like AirBnB and HomeAway to find affordable rentals.
7.) Look for inclusions
If you’re traveling with a family, you can save a lot of money just by staying at a hotel that includes free breakfast. If it has a pool, that’s another bonus – free activity for the kids. Or opt for a suite that has a kitchenette included, which will allow you to cook your own food on-site and under budget.
Whatever summer vacation you’re dreaming of, with enough planning and preparation, you can make your affordable summer trip a reality without doing serious damage to your bank account.
About Your Richest Life
At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning. For more information on the services offered, contact Katie today.