American Consumer Credit Counseling Offers Tips on Saving for Summer Vacation
Planning and spending money on vacation without the proper information can be so intimidating that some choose to stay at home rather than budget for a getaway. With the right research and preparation, the process is both manageable and stress-free. Perhaps mo importantly, vacationers should decide ahead of time what they can afford and prepare for the effects the trip may have in the long-term. To help consumers with the process
"A budget is the cornerstone of responsible financial planning. It shows exactly how much money you have and where it's being spent," said
According to the new survey from Coinstar, a leader in self-service coin counting, millennials seem to be more cash-minded than those of an older generation when it comes to credit card use to fund vacations. Sixty-eight percent of
1. Develop a spending plan – It is important to budget before consumers immerse themselves in paradise. Consumers should be proactive in determining what they are willing to spend, and when. The most dangerous threat to overspending on vacation is arriving without a limit or plan.
2. Think beyond a hotel room – Hotel rooms are often the most expensive housing arrangements when it comes to holidays. Alternatively consumers can consider home shares, condos, summer cottages, campsites or offers through sites like Airbnb.com. Especially if you are traveling with a group, these options can keep costs down. If hotels are the only option, check out websites like
3. Consider alternative travel options – Once consumers have decided on their destination, they should take a moment to look at how they will get there. It is important that consumers know their options when it comes to travel. Be sure to factor in travel costs when choosing a destination, because that can be one of the most expensive parts of the trip. Instead of flying and paying for baggage costs, consider driving to your destination or packing a carry-on.
4. Know what you're paying for – Do necessary research when booking at an all-inclusive resort or preplanned vacation. Often consumers will find that they are required to pay for amenities they do not intend to use. Research will also inform you of the complimentary benefits you may not be aware of. Paying for a trip using a credit card or point system can get tricky, so be sure to read up before committing. Consumers should consider additional fees they may encounter especially is they are traveling internationally as they can add up quickly.
5. Consider off-peak travel – Traveling during the week is significantly cheaper than on the weekends. If a consumer can take off week-days and travel Monday through Thursday, they'll beat the crowds and the weekend prices. Visit popular summer destinations in the winter and vice versa to get a great deal.
6. Save money now to spend money later – Refrain from spending extra money now to fund that much-needed summer vacation. Consumers should determine the little things they spend money on each week and cut them out. Saving
7. Never underestimate the value of free – Consumers should do research ahead of time to see if any special offers are happening where they plan to vacation. Save emails from travel websites, look at Groupon.com and talk to friends that have previously visited the destination. Often checking out the areas outside traditional tourist attractions will reveal the cheapest and best activities the destination has to offer. Also, free activities a few states away can be a great way to road trip and save money.
- For credit counseling, call 800-769-3571
- For bankruptcy counseling, call 866-826-6924
- For housing counseling, call 866-826-7180
- Or visit us online at http://www.ConsumerCredit.com
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Read the full story at http://www.prweb.com/releases/2017/06/prweb14449175.htm
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