Financial Friday: Preparing for a Vacation

Filed in Financial Friday, Relationships by on March 14, 2014 0 Comments

Springtime brings spring breaks, family outings and trips that go along with this time of year.  It’s a great time when the kids are out of school and the family can head off to a fun and exciting destination.  Whether there are kids involved or not, it’s always a good idea to get away and enjoy some time with your mate away from the daily grind we all have to face.  .  I want to share some ideas on how to prepare for a vacation and make it a time we look forward to and then we aren’t dreading paying the bill when we get back.

Magic KingdomSelect a Destination in Advance

Many of us plan everything, so choosing a destination is an easy thing to do.  Everyone doesn’t carry the planning gene, so we have to work to make sure we think ahead about where, how and when to travel.  When planning your vacation, find a destination that works for everyone in the family.  If there are kids involved, Disney or Universal Studios could make a lot of sense.  If there are no kids, then destinations such as Las Vegas or a romantic resort in the Caribbean may be the right getaway for you.  Consider if you will be flying, driving or taking a bus or train.  Order your passport at least two months in advance if you are considering a trip abroad.  Look at your calendar to see when it’s feasible and what the costs will be for everything, including incidentals.

Save, Save, Save

We often schedule things around what we expect to happen with work.  We could expect a larger check (a commission or bonus check) or some other means of income to help fund an event.  While we should expect what is due to us, don’t leave your trip to chance.  Always save ahead to pay for the vacation.  A simple way to go about it is to create a vacation fund.  Open a savings account with direct deposit specifically for this trip.  Take the number of months you have until the trip and divide that by the cost of the trip.  For example, if your trip is going to cost $1000.00, and you are planning it eight months out, literally take 1000, divide by eight which equals $125.00 per month to direct deposit into your savings account.  It’s an amount small enough that you can squeeze into your budget and you pay for your trip with cash.

Travel Insurance  

A good way to have peace of mind is to buy travel insurance.  You can purchase travel insurance from a number of agencies for a very reasonable price.  Travel insurance covers things such as trip cancellations, trip interruptions, missed flight connections, emergency accident and sickness expenses.  Depending on the level of insurance you select, travel insurance can also cover lost baggage and lost/stolen ID’s which is a tedious situation if you have to deal with those issues abroad.  Travel insurance isn’t necessary for every trip, but check with your local insurers to see what the right option is for you and your family.

Preparing in advance financially for a vacation is a great way to have a lot of fun, come home with no debt and concentrate on enjoying this quality time with your family.

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About the Author ()

Jay Hurt is the author of The 9 Tenets of a Successful Relationship-for Singles. Personal experience, a liberation through faith and an appreciation for his perspective led Jay to share his insight on relationships. Dealing with challenging topics by confronting them with faith and common sense, Jay aspires to share wisdom to help others become fulfilled and blessed in their relationships. Jay lives in Nashville, TN and has two daughters, Kristina and Jalen.

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