Fun and relaxation go hand-in-hand with summer, but all those sunny season activities can quickly deplete your bank account.
We’ve all been there. Vacationing excitement gets us caught up in a moment that suddenly takes over and money starts flying. Spending like a multi-millionaire is fun until the summer party stops.
If you’ve worked hard to save your money, you don’t want to lose your savings in a wild summer vacation spree. Even if restraint is your middle name, you don’t want the consequences of poor pre-planning to come back and take a bite out of your savings.
Spending too much on summer vacation can be particularly harsh if you been holding back money to buy a home. Whether it’s Oviedo real estate you’ve been hoping to buy or Boca Raton luxury homes, you don’t want to look back after the summer is over and realize your nest egg has been squander on a summer spree.
Top Summer Money Wasters
The National Foundation for Credit Counseling© recommends summer spenders steer clear of the following three top money wasters:
1. Last-Minute Travel: Booking a trip at the last minute can be very expensive. When travel plans are spur of the moment, you don’t have any time to research deals or to comparison shop for the lowest prices.
There are a variety of useful tools available on the Web designed to help travelers capture the most in savings. The best way to save is to compare packages and their offers. You want to try to be flexible with travel dates. You want to leave room for negotiating your plans, but if you are urgently trying to travel or reserve seats, you will not be able to use that valuable option.
You also should look for special value-added deals available with many of the travel booking sites. Family travelers should look for hotels where kids eat free or at lower rates.
Another cost saver you might be able to use to catch a break is from rental car companies. Free upgrades are often available and may give you and your family a little extra leg room for any car trips you might have planned at your destination.
When it comes to travel, a little planning helps your money go a long way. Try not to plan any last-minute travel plans.
2. No Budget for Your Trip: No spending plan for a summer trip can end up breaking the bank. The last thing you want to do is to return home and not be able to pay your monthly bills.
Take some time to research your destination. Do some price shopping to compare prices for any activities you’d like to do on your trip. If you planned enough in advance, you might want to stock away money each month throughout the year so you‘ll have enough for estimated costs.
By budgeting for your trip, you won’t have to worry about your credit card spending, which can lead to a more enjoyable time for everyone.
3. Too Much Baggage and Other Airport Expenses: Airlines, airports and its vendors make a ton of money on travelers’ mistakes. From the number of bags you check in to overweight and oversized luggage, airlines will be more than happy to pocket those extra charges. Be sure to check your airlines baggage rules and plan accordingly before heading to the airport.
Another airport money drain is the cost of beverages and snacks. Significantly overpriced, you don’t need to waste your vacation spending cash on these types of treats. Feed the kids and yourself ahead of time. Wait until you get to your destination to enjoy some eats. It’ll probably taste a whole better and you’ll save money, your health and taste buds from a lot of grief.
