Taking vacations on a whim sounds like a fun idea to many people, but planning ahead can make the experience that much more enjoyable.
People who take last minute vacations often accrue more debt in the process because they have not saved up enough money and tend to charge hotel rooms and airline tickets to credit cards – big mistake!
Planning ahead for major vacations is the best way to have fun without accruing extra debt.
Save Early, and Save A lot
Saving early is crucial to staying away from credit cards as a last resort during your next vacation. Save as much as possible as early as possible. This will allow you to book hotels and flights sooner therefore saving you money that can be used for activities during your trip.
The best scenario is booking your trip ahead of time with a credit card that offers savings like Aeroplan rewards. Make sure to have the money set aside to pay off your debt immediately. And remember the earlier you book your trip, the more peace of mind you have during the days leading up to your vacation.
Saving as much as possible way ahead of your trip will also allow you to accrue money to make up for the loss in salary that you may have to deal with in order to take your vacation. This means less headaches for you when you come back.
Stay Away From Credit Cards
Staying away from credit cards during your trip means less credit card debt and less money you’ll have to pay towards your annual percentage rate.
Use only cash for everything during your trip, including extracurricular activities, food, souvenirs and more. Doing so could save you thousands of dollars in extra debt, depending on how long your trip is and what type of spender you are.
Look for Discounts at All Times
From the very first time you look for airline tickets or hotel rooms, always be on the lookout for a deal.
Read Tips To Save Money On Your Next Vacation.
Booking early will help you save money on big ticket items.
Do extensive research on potential activities for you and your family before you leave for vacation.
Many hotels offer discount packages on activities and fun excursions if you book them at the same time, and many free outdoor activities may also be available if you look hard enough.
Debt Free: The Best Way to Vacation
Going on vacation debt free will help you relax both during your time away and when you come back.
Your mind will be relaxed knowing that you have enough cash to cover all your expenses and you won’t be faced with a huge credit card bill in the future.