Go on Vacation Without Adding More Debt
One of the worst things people can do when trying to get out of debt is to eliminate all sources of entertainment from their lives. It's basically the fastest way to quit your debt repayment plan before you've even made a dent. With summer approaching, many families look to take vacations. A vacation does not have to cost a fortune, and it's possible to take steps to reducing the costs of a vacation (while still having a wonderful time) so that it doesn't cause more debt for you to deal with when you return to the "real world". Here are 4 tips to help reduce the cost of your vacation plans:
1) Saving money, whether it's on vacations or groceries or making an appliance purchase- requires advanced planning. You will spend more, every single time, if you make purchases or decisions on the spur of the moment. Planning for vacation can be done a few weeks in advance, although the more time you have the more you can save so do what you can to arrange your vacations far enough in the future to give yourself time to save.
2) Compare the cost of getting there. With the fuel prices as high as they are, you may find that driving is almost as expensive as flying. When comparing the costs between flight tickets and driving, include gas prices, lodging on the way (if a trip that will take more than a day to drive), food for the journey there and back, and the amount of wear and tear the trip will put on your vehicle. It may end up that flying, while not considered "cheap", can save you money and/or time- both which are valuable commodities.
3) Consider alternative lodging arrangements. If you usually stay in nice hotels, consider downgrading to a less expensive motel. You might consider camping or renting a cabin rather than splurging on a hotel, and the savings will add up. Sometimes colleges will rent dorm rooms to travelers when college is not in full session, and in some cities the YMCA will provide reasonable accommodations... so don't forget to check into different types of accommodations!
4) Renting Cars. Just because you are staying someplace for 7 days doesn't mean you have to rent a car for 7 days straight. If you have coupons (the Entertainment book and the Phone book both usually have car rental coupons) that are good for 3 days during the week, and another discount that can be applied on a weekend rental- consider reserving your rental cars in segments! Rent one for the first 4 days of your trip at one price, and rent another for the remainder of your trip at another price. It's possible to save $200 or more with this strategy, and the only inconvenience will be having to trade the vehicle in and picking up the new rental halfway through your trip.
