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Financial Tips for Saving on Your Summer Vacation

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Managing your finances can be tough when you are on vacation, but you shouldn’t have to deprive yourself of a relaxing trip with your family or time to unwind during the summer. There are ways to be proactive with your finances even on summer vacation. This week, New Era reveals the best financial tips to follow on your trip.

 

Be wise about how you spend your money

In the moment, it can be easy to splurge on souvenirs and other items that are not worth it. Remind yourself that mugs, magnets, and other small trinkets can be skipped when browsing stores. The experience is worth more than the purchased items. Try to avoid pulling money from your retirement account or other savings accounts to fund items that do not add value to your life.

 

Create an itinerary

Though you might not be able to map out every single thing you do on your vacation and the costs that come along with them, you can budget for the things you know you will do on your trip. Create an itinerary and plan the stops you want to make. If they all add up to be too expensive, adjust your itinerary accordingly to better align with your spending plan.

 

Pay attention to your budget

What are the transportation costs? Will you have to pay for public transportation or will you be using your own vehicle? Be sure to add in transportation fees, daily food costs, and other expenses associated with your trip. If you don’t have a vacation budget, then we highly recommend making one before you say, “Bon Voyage.”

 

Do some pre-vacation research

What costs can you expect? It’s always better to overbudget than to arrive and realize you have more expenses that need to be covered. You can predict your budget while making your travel itinerary to better understand the types of costs to expect on your vacation.

 

Make sure to pack everything you need

It may be a no-brainer to remind you to pack the essentials, but there is a good reason for it. Paying for toiletries, clothing, or other items can easily put a damper on your vacation solely from the price tags alone. Tourist cities are known to hike their prices and forgetting a few simple items or packing for the wrong weather could add up extra costs quickly. Make sure you pack accordingly and follow a checklist.

 

Make use of helpful apps

There are various free resources available online to help you ensure all your items are packed. Technology has made it effortless to budget and keep track of expenses. Use the best budgeting and travel apps to find the best deals as well as other helpful travel tips. Your trip should be relaxing and not hinder your finances.

 

Contact one of our friendly counselors today for a free consultation. We want to help you find the debt relief option that is right for your needs and budget. New Era Debt Solutions looks forward to getting to know you, as we help you achieve your financial goals.

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