June Topic of the Month: Plan Your Vacations in Advance
It’s finally summer and we’re all ready to roll the windows down, leave town, and relax. But costs are on the rise and places are beginning to book for summer. Want to really enjoy your vacation? Plan your vacation in advance.
Ideally, you’ll plan about a year ahead – so if you have your summer 2022 plans in place, do yourself a favor and begin to plan your travel for 2023. Our tips will still apply, even if your trip is a few months away.
Set a budget. How much money are you going to spend on vacation? Is that just for one trip, or spread across several? It’s a great time to check in with your financial planner about what you have available to spend on travel.
Determine a time and location. Figure out where you’re going and when. Booking on off seasons, during the week, and on non-holiday weekends can save you money.
Decide how you’ll get there. Can you drive to your destination—at what time and cost? If you drive, should you take your car or a rental? If you fly, be sure to factor in transportation wherever you arrive. Ubers, Lyfts, and taxis add up if you haven’t planned for them. Be sure to compare costs and time and determine what makes the most sense.
Figure out where you’ll stay. Will you camp? Rent a house? Stay in a hotel or Airbnb? It can take time, but shopping around different websites can often reveal a deal. We like to keep spreadsheets to figure out the best deal—factor in things like distance to places you’d like to visit and other amenities.
Pay for it. Maximize your savings. Do you have a travel credit card? Can you use any reward or miles? You can pay for travel with your credit card to get points back—but only if you have the money budgeted to pay it off without interest. On your vacation, get out the cash you’re willing to spend and only pay with that to make sure you stick to your budget
Travel is going to be more expensive this summer than in past years—and we know that can mean budget changes. Contact Orsinger Investment Group, Inc. at (724)588-9067 to review your budget and help you maximize your travel savings.