Summer travel tips on a budget

Nothing puts a damper on your summer vacation like depleted savings or increased debt. It’s easy to overspend when on a trip – you’re on vacation, after all! Last-minute expenses, like meals at a restaurant, souvenirs, or activities might seem OK in the moment, but they can add up fast, turning what was supposed to be a relaxing vacation into a stressful financial burden.

To avoid spending significant sums or adding to your debt, planning ahead and getting creative can help you save money, spend wisely and have a carefree summer vacation.

Three of our Everence Federal Credit Union branch managers – all Certified Credit Union Financial Counselors – offer some tips on how to make the most of your summer vacation while not breaking the bank.

1. Plan first, then enjoy.
   Before booking a flight or a hotel, write down all expected expenses, said Mayra Williams, EFCU Branch Manager in our Harrisonburg, Virginia, office. By outlining all expenses – and thinking through how to cut down on excess costs and impulse purchases – you can have a good idea of how much to budget.
   
   “It’s easy to swipe your card and not look at your expenses while on vacation, but planning ahead can really help you avoid that and stay within your budget,” Mayra said.
2. Be smart about your lodging.
   The costliest part of your vacation is oftentimes your lodging, said Kara Hochstetler, Branch Manager of our Sarasota, Florida, branch. And while it may be tempting to pull out all the stops and rent a beach-front condo, you don’t need all those amenities to have a memorable trip, she said.
   
   Kara also suggested finding a rental or hotel that has a kitchenette or fridge, so you can make yourself breakfast and lunch and cut down on food costs. Eating out three times a day can add up, so doing what you can to avoid eating at restaurants is a smart move.
   
   Deciding when to go on vacation can also help with lodging costs. Avoiding peak times around holidays like Memorial Day or the Fourth of July can help cut down on expenses. Prices tend to be more favorable in August, said Nick Fuciu, Branch Manager of EFCU’s Kidron, Ohio, branch.
3. Get creative.
   Not every vacation you take needs to be a cross-country or international trip. Staycations can be just as memorable, Kara said.
   
   Take advantage of nearby attractions, like state or national parks, museums or beaches. Many of these attractions are free or have a small fee. Being a tourist in your own hometown – or a town nearby – can be much more fun than you realize.
   
   Camping is another great way to see new sights while keeping costs at bay. Even driving 30 minutes away to a local campground can be an exciting trip for the whole family, Nick said.

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The best vacations are those that allow you to completely unwind while not breaking the bank. By planning ahead and getting creative – and speaking to local Everence Federal Credit Union professionals – you can plan a vacation that works for you and your family, while still achieving your financial goals.

Call 717-735-8330, go to everence.com/banking or visit your local Everence Federal Credit Union to speak to a Certified Credit Union Financial Counselor today.