Saving in the Sun!

I hope your summer is off to a great start, but I’ve got a few tips for you before you head out on that big summer vacation!

I won’t be the one to tell you to skip vacations while in college to save money. I feel everyone deserves a break now and then. What I will say is that there are a ton of ways to avoid breaking the bank while you’re at the beach, mountains, or abroad.

First, have a budget for the trip before you leave! You will be amazed at how much less you spend if money is actually on your mind before you head out. Have a designated dollar amount for categories such as ‘Gas and transportation’, ‘Lodging/Hotels’, ‘Food’, and ‘Fun/Entertainment’.

Buy groceries when you get there. I know it may be tempting to eat out every meal, but there is no faster way to burn through money on vacation than eating out 3 times a day. A good goal is to have simple, cheap food for breakfast and lunch and then go out at night to a quality restaurant.

Avoid charging things on vacation. The last thing you want is for that week in Panama City to turn into a year of paying down credit card bills. Stick to the debit card, or better yet bring cash with you. When you run out of cash it’s time to reevaluate your spending habits.

Lastly, have fun! Vacation is all about enjoying yourself and relaxing, and there is no better way to stay relaxed than not having to worry about your finances while on the trip. Go in with a financial game plan and you will find that the vacation goes much smoother.