Finance

How to Save Money for that Summer Trip

After the holidays, trying to budget for a summer trip can seem daunting.

Jake Jones Feb 11, 2013

After barely surviving the holiday season, many people count their lucky stars if they can get out of debt by February. The thought of planning an exciting vacation this summer can be daunting, but Matt Kepnes, author of Matt’s Nomadic Travel Site and guest blogger at the Huffington Post has four tips to help you make that dream vacation come true.

  1. Eat In – Buying in bulk and preparing modest meals for yourself every day will eliminate a substantial expense from your budget. Rather than planning activities around food, meet up with your friends after dinner, avoiding expensive restaurants. Eating out for lunch and dinner will add up quickly.
  2.  Lose the Car – Gas, insurance and maintenance will eat away at your monthly paycheck very quickly. Most cities in the U.S. offer efficient public transportation options which will get you where you need to go on time and without the recurring expenses. Owning a car is convenient, but sipping a strawberry daiquiri on a Hawaiian beach is worth the sacrifice.
  3. Get a New Credit Card – “Travel credit cards usually give you huge sign up bonuses and they provide easy ways to rack up frequent flier miles, which can give you free flights or get you into business class,” Kepnes said. Many of the travel cards will give users free money, rooms or flights, basically helping you to save from future expenses that you will incur during your expedition.
  4. Keep the Change – Kepnes believes that every day people “bleed” money. People disregard change and over time, that money adds up. He went a year saving his loose change and at the end of the period, Kepnes accumulated more than $500.

His ultimate suggestion for travelers is to make a conscious effort to change your lifestyle. He advises vacationers to think of creative ways to keep some element of excitement and recreation in your lives, but to find the “cheap, alternative options.”  “At the end of the day, the more you save, the longer you can be on the road,” Kepnes said.

The information contained herein may not represent the views and opinions of Zions Bank or its affiliates and is intended for informational purposes.  It is presented for general informational purposes only and does not constitute tax, legal, investment or business advice.

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