AICCCA Advises Consumers -
Plan for Added Cost of Fuel While Vacationing
Fairfax, VA - May 23, 2006 — With Memorial Day fast approaching, vacation time is here. This year's consumers are facing rapidly rising fuel costs that may affect their plans. According to a recent National Retail Federation survey, 37 percent of those surveyed planned to cut back on their vacation and travel plans.
"Many consumers underestimate the cost of their vacations and wind up adding to their debt every year. With gas prices continuing to rise, consumers may find they need to cut in other areas to make up for the increased fuel expense," said David Jones, president, Association of Independent Consumer Credit Counseling Agencies. "Consumers shouldn't come home regretting they took a vacation when the bills come in."
AICCCA offers the following tips for trimming vacation costs:
Determine how much you can realistically afford to spend on vacation.
If you have not saved up for your vacation, try to plan a trip you can pay off completely in three months. Going beyond three months can increase the price you end up paying for your vacation dramatically through interest paid on credit cards.
Decide how to get there. Will you go by plane, train or automobile?
A recent AAA survey says that 4.3 million Americans will travel by air over Memorial Day weekend, a 1.5 increase in air travel over last year. If you will be traveling by air, be sure to take advantage of planning far enough in advance to qualify for the lowest possible fare. Still, even with rising gas prices, automobile travel remains the most economical for families. If this is your plan, be sure your vehicle is serviced to perform at its peak performance level before setting out.
Research lodging options.
Advanced planning can really pay off in this area. Look for alternatives to expensive hotel stays such as timeshare properties, cabins, staying with family or friends in their homes, even hostels. If a hotel stay is your only option, consider a suite with a kitchen. Having cereal and milk on hand for breakfast will save at least one meal out. If no kitchen is available, you might choose a hotel that offers complimentary breakfast.
How far will you go?
Distance may be the most important component in your travel
plans this year. The AAA survey estimates that 31.4 million Americans will
travel 50 miles or more from home on Memorial Day weekend alone. Staying closer
to home, maybe exploring your home state or even your own hometown, could prove
the most cost-effective.
What will you do when you get there?
Expensive malls, restaurants and theme parks can really eat into the vacation dollars. Check out free or low-cost programs at museums and other public venues. Try a picnic in a local park for lunch one day. If you choose the hometown theme for your vacation this year, use a tourist's eye and check out local attractions you haven't explored or seen in a while. And remember, this is your vacation, so no housecleaning or yard work if you stay at home.
Start planning for next year when you get home.
The best way to avoid debt is to save for things you want and vacations are no different. Consider opening a separate vacation account and plan to add to it every month. When vacation times rolls around next year, how you are going to pay for it will not be a problem.
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.
