Summer’s right around the corner and that means vacations, beach, travel, and fun! But it can also mean debt if you don’t take time to plan out a financial strategy.
Here’s how to plan a debt free vacation, so you can enjoy your time in the sun!
Get an Estimate
Step 1 is to make sure you have the essentials covered. Start by deciding on a budget and time for when you plan to travel. This makes it easier to decide in what areas you want to indulge and where you want to save. Try looking up vacations online to get an idea of what to expect in terms of expenses.
Go on a road trip! Not only are you saving money on air travel but you can explore along the way.
Automate a Vacation Fund
Now that you have a plan, you can start automating your savings. This service is free and available in most banks. Trust us, take advantage of this service, it will not only save you time but also MONEY! Automation will assure that your vacation plans are debt free, guilt free, and you’re staying ahead of the game.
On Your Marks, Get Set, Negotiate!
Between flights, hotels, and car rentals, vacations can really burn a hole in your pocket. Learning to negotiate can save you money when you travel and there are several resources available to help give you an estimate of how low you can bid when making an offer while still having the chance of getting your offer accepted. These include Better Biding and Bidding Traveler.
When in Rome…
The best way to explore a new city is to do it as a local would. Get on social media or surf the internet for recommendations from people who live in that city. Of course, explore the popular sites, but remember to dive in deeper for an all-around enriching experience.
- Cut back on your weekly or monthly expenses like dining out and add it to your vacation fund.
- Pick up a part-time job.
- Declutter and sell items you no longer need. In today’s technological world you don’t even need to plan out a garage sale you can sell directly online, even on Facebook!
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