5 Ways Your Vacation Can Put You into Debt
Vacations are a great way for us to relax and get away from the stresses of everyday life.
Whether it’s a trip to another country or in your own state, a beachy scene or the mountains, sometimes they are just vital to keep our sanity! While everyone deserves a vacation from time to time, no one deserves to go into debt to be able to “afford” one.
Here are 5 ways your vacation can put you into debt and how to avoid it.
Booking a Last Minute Vacation
Booking a trip the night of or even a week before will cost you. This is when prices are usually at their highest, but it seems people still continue to book. While last minute, spontaneous trips can be fun, they usually can put a big dent in your wallet.
If you are looking to book a last minute vacation, consider searching for “last minute travel” sites. You may want to search sites such as Groupon to find deals on vacation packages that won’t break the bank. TIP: If you are considering booking a hotel last minute, the hotel tonight app might be able to save you a couple bucks!
Charging All your Expenses at Once
What many people fail to do when planning a vacation is spread out the costs associated with their trip. This is a sure fire way to run in debt problems. While using a credit card can be a great way to finance a vacation, they should be used responsibly. Consider spreading out your pre-vacation expenses. You may want to book your flight one month and your hotel the next. That way when your credit card bills comes in, you’re not hit with a large bill forcing you to deplete your savings or pay the minimum. You will end up paying more in interest and losing money in the long run.
Not Picking an Affordable Destination
Picking a destination may be one of our hardest choices when booking a trip. With so many beautiful places to choose from it can be hard to narrow them down. This can be a good thing. Rather than choosing a spot that you know you can’t afford, consider choosing a destination that fits your budget. You can get the most of your money without sacrificing anything!
Even places like Costa Rica can have great deals! It’s how you search for them and when. Sometimes flights and trips can be cheaper during the off season months. Flights tend to go down on Tuesdays and Wednesdays after 12 p.m.
Not Sticking to a Budget
So you’ve managed to stay out of debt on your pre-vacation expenses. Now it’s time to stay out of debt while actually on vacation. With the costs of meals, souvenirs, gas, and excursions, this can be hard to do. Consider sticking to a budget to keep you on track and well aware of your spending. You may want to do some research beforehand on local restaurants and attractions to get an idea of what your daily spending should be. By planning ahead, you can create a budget that can make managing your vacation money a breeze.
Staying Longer Than You Need To
Everyone would love a long vacation but sometimes a quick getaway is all we need to relax and unwind. While this obviously depends on where you are vacationing, consider shortening your trip by a day or two. Not only will you save on nightly hotel costs, you’ll save on food and other vacation expenses as well. For example, if you know you can visit all the attractions and still have time to unwind in 4 days, staying 6 will only cost you more money.
While a vacation is a great time to relax and enjoy yourself, too many people swipe their credit cards for the sake of being “on vacation.” Smart credit habits should not be thrown out the window in order to get the best out of your trip. There are plenty of ways to enjoy your vacation without going into debt! Are you vacationing soon? How will you keep from running up your credit cards? Please share your comments below!