Is fun in the sun calling your name? Going on vacation is important for overall wellbeing and creating lasting memories for you and your loved ones. However, the excitement of that getaway glow can make it easy to overlook an important factor – your budget.
With inflation on the rise, almost 40% of Americans will go into debt paying for their trip. Don’t be part of the statistic. Save for your vacation several months or even a year in advance.
The Golden 1 FlexSavingsSM Savings Account makes it easy. It’s specifically designed to help you pay for vacations or other special occasions. You’ll earn monthly dividends and get to choose the payout date, so you have the money when you need it – and more of it.
Vacations don’t have to mean going into debt, and it’s never too early to plan ahead. Even if you haven’t planned far in advance, here are some simple ways you can beat the financial heat this summer.
Budgeting is in the details
It’s easy to focus on big purchases like flights and hotels when considering the cost of travel. However, the smaller expenses can really add up. Save big on your vacation and avoid spontaneous spending by creating a detailed budget. Break down what you can afford on things like eating out, room service, spa treatments, boat rentals, souvenirs, activities, and more.
If you’re not big on spreadsheets, use a mobile app or online budgeting calculator. This will help you stay on track as you go instead of falling prey to that overpriced caftan or decorative mug set you’ll probably never use.
Short-term saving hacks
If you haven’t been saving in advance, there’s still time. Forgo a few luxuries in the months or weeks before you leave and stash the cash for your getaway. Consider running a yard sale featuring all your forgotten treasures. Skip your weekly dinners out, or shop at secondhand stores for that new vacation outfit.
When to buy and when to fly
Don’t buy your plane tickets on a whim. A strategic approach is key to getting the best prices. Experts say the sweet spot is 54 days before your departure date. You can also save on your vacation by booking your tickets on Tuesdays. Sign up for emails and alerts from travel sites so you never miss the lowest price.
Being flexible with your travel dates also helps. It might be tempting to go on vacation at the end of May through June, but that choice might cost you. These months are at peak travel season – making flights, hotels, and activities more expensive.
Ditch the cookies (no, not the baked variety)
As you track the best flight prices, don’t forget you’re being tracked, too– by hotel and airline sites. They use cookies to figure out your search preferences and raise their prices if you visit their site more than once. By clearing your cache before every new search, you’ll block them from seeing your browser history, and can save up to 50% in the process!
Couponing isn’t just for groceries
It’s easy to forget coupon sites like Groupon when you’re traveling. Search these sites at your destination for discounts on restaurants, activities, and more. You can also score cheaper (or free) tickets to amusement parks, zoos, and concerts by looking on the local Craigslist page, social media, or sites like StubHub. If you’re traveling with kids, go out to eat at restaurants that offer “Kids Eat Free” promotions. Your kids won’t know the difference, but your wallet will!
Ask and you just might receive
Picture this...you pre-booked your hotel and have just arrived to check in. You smile, are courteous and make small talk with the front desk staff. Then you politely ask about the possibility of a room upgrade...and voilà! They say yes!
It’s not only possible, but highly likely this could become reality. About 78% of hotel guests who ask for an upgrade get one. Especially those not traveling during peak season.
A bonus tip: If you check in after 6 p.m., you’ll have an even bigger chance of getting a room with a better view. By this time, the staff knows what rooms are already filled and exactly what they can offer you.
Freebie fun
Don’t just save on your vacation, challenge yourself to spend nothing for a day. Find fantastic free activities on blogs, social media pages, and sites curated by locals. You’ll be surprised what you can get for free – tours of historical sites, a visit to a charming family farm, free access to splashpads...the list goes on.
If your hotel includes free continental breakfast, take full advantage. F or other meals, picnic on sandwiches you make yourself. You can also BBQ your own hot dogs and burgers on free outdoor grills at beaches or parks.
We hope this list helps you create wonderful summer memories while saving on your vacation. Stay safe, stay on budget, and have fun out there!
