AICCCA Offers 5 Questions to Ask Yourself Before Summer Vacation

Fairfax, VA - May 22, 2003 - Summer vacation invokes memories of relaxation and stress-free days. Stress-free until back at home in the normal routine it hits - How are we going to pay for this? Association of Consumer Credit Counseling Agencies encourages consumers to remember last year's vacation. Not just how much fun it was but how much it cost, how long it took to pay off and determine if it was worth it.

American Express reported in its 2002 Leisure Travel Survey that travelers expected to spend an average of $2,031 on vacation expenses. If all those expenses were placed on a credit card with an annual percentage rate of 18 percent it cost those vacationers a total of $2,234.42 for the vacation paying $186 a month for one year. Make only the minimum payment and the vacation costs total $4,692.82 and takes 224 months to pay off.

"For those consumers who may have overspent on last year's vacation, stop and ask yourselves, 'Do I want to repeat the same pattern this year?'" said Dave Jones, president, AICCCA. "A little planning and compromise will allow you to have a vacation and return home knowing you have avoided additional debt to do it."

AICCCA offers the following questions to ask before heading out for vacation.

How much can I afford to spend on vacation? Take a look at last year's vacation. How much did you spend? How long did it take to pay off? If you did end up paying for your vacation months after you returned home, consider whether or not the trip was worth it. After reviewing last year's trip, determine how much you can realistically afford to spend and keep in mind you will need a plan to pay off the expenses if you decide to spend more than you have available at the time of vacation.

Will I travel by plane, train or automobile? Saving money on travel is one way to hold down vacation expenses. Travel Industry Association of America reports that 70 percent of travelers plan to drive on trips this summer. Another alternative to more expensive air travel is to take the train. Many scenic trips are available and no one on the trip has to drive. If air travel is necessary, check for deals on the Internet and purchase tickets as far in advance as possible.

Where will I put up my feet and rest my head? Travel Industry Association of America reports that 23.6% of domestic travelers spent almost one fourth of their total expenditures on lodging in 2000. Investigate alternatives to expensive lodging such as a family member or friend's home, timeshare property or cabin. If staying in a nice hotel is a priority for you, make sure to cut expenses in another area or have enough money in your overall budget to cover the expense.

What will I do for entertainment? Stay away from the shopping malls and theme parks if possible and opt for outdoor activities or museum hopping instead. If you just can't resist the mall or Disney World, create a budget for those excursions and stick to it!

Do I really need to travel away from home? Take your vacation at home and visit your city or town as a tourist. You may be surprised at how much there is to do and how many things of which you were not aware are available for entertainment. Don't be tempted to do housework or yard work. This is your vacation. Treat your home as you would a hotel. You may even be able to convince a family member to turn down your bed at night.

Ask yourself these questions, answer them honestly and utilize what you learn to plan a vacation that will be relaxing and fun, and not add to your debt.


Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call (800) 450-1794 or visit www.aiccca.org.