Memories of relaxation and stress-free days may not make up for the money spent and the debt incurred on vacation. Still, it wouldn't be summer without some kind of vacation so the first thing to do is set your priorities beginning with how much to spend.
"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."
Travel.
Costs can fluctuate drastically depending on the mode of transportation. Air travel is the most expensive, but Internet deals and purchasing tickets as far in advance as possible help keep these costs as low as possible. Train travel is less expensive and with no one responsible for driving can be a relaxing way to go. However, driving remains the top choice for most vacationing Americans. Even with soaring gas prices, analysts predict that this summer will be no different.
Lodging.
One fourth of the budget is often spent on accommodations. Alternatives to expensive hotels are timeshare properties, family member or friend's home, cabins, even hostels. If only a hotel will do, consider a suite instead of multiple rooms for your family. Often included is a small kitchen where some meals, like breakfast or lunch, can be prepared more economically than eating all meals at restaurants or cafes. Even without a kitchen, however, a trip to the local grocery store can be accomplished almost anywhere and will yield a roadside picnic that the family may enjoy and remember more than the most elegant local restaurant.
Activities.
Avoid shopping malls and theme parks if possible and try some outdoor activities or museum hopping instead. If the family simply can't resist, determine an exact amount to spend on those activities and stay within that budget.
Your backyard.
By looking at your hometown with a tourist's eye you may discover local attractions you've been neglecting without worrying about how to get there and where to stay. Remember you are on vacation and don't let house or yard work tempt you. Enlist the family's help and assign each person a night to turn down the beds and put a mint on every pillow.
Remember, the key to a relaxing and fun vacation is one that you won't regret when the bills come in. Make every vacation dollar count with careful planning that won't 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.
