Enjoy Your Summer Vacation Without Maxing Out Your Credit Cards

Make a plan. It helps to start with a plan for your summer vacations.

• You don’t have to rule out spontaneity entirely, but having an overview of when and where you’d like to go, what you’d like to do and how much it will cost gets you started off on the right foot.
• You can also do some research to identify deals ahead of time. Many hotels offer discounts during off seasons, and some airlines have lower fares when you fly during off-peak times. Services like Airbnb offer competitive prices for lodging and may help you reduce expenses if you eat some meals in instead of going out.

Set up a ‘vacation fund’ and Stay Disciplined. With a plan in place, you can start saving for your trip.

• Creating a separate “vacation fund” helps cement why you’re saving the money and can help you keep your eye on the big prize when lesser temptations, like a new TV, arise.
• Once you’ve settled on how much you’ll spend, stick to it. It’s easy to talk yourself into not counting little purchases like a coffee here or mouse ears there, but those little purchases add up and can have a significant impact on your vacation fund. Give yourself a 3% to 5% buffer in your budget for the “Oh, that’s so cute” and “Man, I just need to have that” moments — we’ve all had them.

Just remember, have fun! It costs nothing to make memories right in your own hometown! To open a vacation saver or for more tips, visit online at mycentric.org!