Tuesday, December 15, 2009, 12:12PM ET - U.S. Markets close in 3 hours and 48 minutes.
Escaping from the confines of a cubicle or a classroom and having a fun-filled vacation is something most people dream about. The good news is that you can enjoy your holiday without spending exorbitant amounts of money. Read on for tips on how to stretch your vacation and your budget.
1. Do Your Research
Think about what you'd really like to do. Hit the beach? Go shopping? Climb a mountain? Visit a museum?
Once you've narrowed the field, it's time to dig into the details. Can you stay locally for these actions? Do you know anyone who's done them before - and on the same budget you have? If you don't know where to begin, talk to your friends who travel on a similar budget, contact a travel agency for their educated opinions, or scour the internet for chat rooms and honest discussion on your vacation topic. A combination of these resources should give you a framework for your vacation itinerary and perhaps provide you with some tips on accommodations, places to dine and things to do.
|
More from Investopedia.com:
Budget-Friendly Summer Fun Travel Smart by Planning How You'll Pay Ten Ways to Save Energy and Money |
Thorough research might also provide you with time-saving tips, help you avoid "tourist traps" and save you from miscellaneous hazards and hassles.
Internet sites such as Yahoo! Travel, Expedia and Priceline have lots of information and often can help would-be travelers find reasonable fares on hotels, cruises, flights and hotels. Major brick-and-mortar travel agencies, such as Liberty Travel, should be considered as well.
2. Look for Deals or Coupons
As a vacation-goer, you should peruse newspapers, magazines and websites for advertised deals (or coupons) on items like hotels, rental cars or other methods of transportation you'll be using.
Major airlines, such as American Airlines or Continental, offer some terrific money-saving packages. Also, many clubs or organizations offer discounts to certain demographics - being a veteran or a student might save you a few bucks. Finally, be sure to ask the travel agency, airline, cruise line, hotel or other vendor what discounts are available. That way you'll know if you qualify. Even booking online versus in person can save you up to 30% of the purchase price of some hotels and services.
3. Consider Multiple Sources for Pricing
Now you should know when, where and how you want to travel. The next step is to create a budget and price for it. Consider multiple sources in your price planning; don't just call the hotel and airline directly to make reservations. Call them to inquire about the price, but also determine if any of the travel websites enable you to plan, price and book the trip online. Remember that many of the travel websites direct travelers in bulk to certain destinations so often that the website can generally afford to offer you cheaper rates than you might be able to fetch on your own.
Don't Forget to Negotiate
Some travel organizations offer discounted rates to groups, when asked. If you don't ask, you might not get the discount. The lesson here is that when traveling (particularly with a large group), don't be afraid to ask for a deal. The same thing applies when dealing with a local vendor - negotiate! You've got nothing to lose by asking.
4. Pack a Lunch
Unless you are embarking on a cruise where meals are often included in the trip's price, the odds are that you will be spending a great deal of your money on dining. Instead of eating at restaurants every day while on your trip, consider packing a cooler with your favorite lunch items, or a good old-fashioned peanut butter and jelly sandwich if that's your thing. Alternatively, while on the trip, visit the local supermarket each day to shop for your meals. Both of these ideas have the potential to save you lots of money over the length of your trip.
5. Stay Close to Home, or Have a "Staycation"
It should go without saying, but a great way to save money is to find a destination that you and your family will enjoy that is within driving distance. That way you'll be able to avoid costly transportation, such as airfare.
If you need some inspiration to find a local destination hotspot, check out the following books:
In addition, due to increasing prices in travel expenses (like airfare, gas and food) many are opting to stay home in a "staycation". This is exactly like it sounds. You vacation from home, and enjoy the local flavor of your home and area. The key here is to make staying home fun, so spend some of the money you are saving by not flying on a park pass, hotel pool party, or spa day.
6. Consider Joining AAA
The American Automobile Association (AAA) is a group that offers roadside assistance if necessary (for a price), but it also provides some great travel deals. This is a large organization, so it can offer lower rates on hotels, cruises and other travel-related items. In addition, it can offer lower rates at many local merchants around your area - and, you can take advantage of these lower prices even when you are not on vacation. Triple A can also help you find a car to purchase, help with its financing and help you obtain automobile insurance.
Maintain Your Automobile
If you are looking to stay or travel close to home, the odds are you'll be relying on the family car. Therefore, it makes good sense to take care of the vehicle and make sure it's operating properly. Remember, your properly maintained vehicle can save you money in the long run.
Here are some maintenance tips:
7. Find the Value in Non-Peak Seasons
Certain destinations and activities are in high demand during certain times of the year. For example, a trip to a major ski resort is more popular during the winter season. Conversely, a trip to the New Jersey shore is generally in demand during the summer season. However, traveling when everybody wants to travel can be quite expensive, because merchants generally ratchet up their prices during these peak seasons.
|
More from Yahoo! Finance: • A Gadget That Fetches Your Groceries for You • Airline Turmoil Clips Discount Fliers • Zap Cell Phone and Land Line Fees Visit the Family & Home Center |
When conducting your research, determine the peak season for the destination you're considering, and then, if possible try to avoid going at that time. This can help you cut the cost of your trip by 10% to 50%.
Also, consider the time of day for doing certain activities. Some things cost more at different times of day. For example, golfing is less expensive at twilight than in the middle of the day and a theatre matinée is cheaper than the price at night. The time of day can also affect the cost of air travel, so keep this in mind when you search for flight information.
Bottom Line
It's a lot of fun to go out on the open road or to take to the skies or the seas and enjoy a well-deserved vacation. However, going on an adventure doesn't mean that you have to break your budget. By shopping around and planning ahead, you can make your vacation both fun and affordable.
See today's average rates across the country.
| Loan Type | Today | Last Week |
|---|---|---|
| 30 Year Fixed | 5.07% | 5.01% |
| 15 Year Fixed | 4.55% | 4.51% |
| 1 Year ARM | 3.94% | 3.91% |
| 30 Year Fixed Jumbo | 5.86% | 5.88% |
| 5/1 ARM | 4.19% | 4.30% |
| 3/1 ARM | 4.97% | 4.99% |
| Loan Type | Today | Last Week |
|---|---|---|
| $30K Home Equity Loan | 8.34% | 8.32% |
| $50K Home Equity Loan | 8.22% | 8.19% |
| $75K Home Equity Loan | 8.25% | 8.22% |
| $30K HELOC | 5.19% | 5.20% |
| $50K HELOC | 4.93% | 4.93% |
| $75K HELOC | 4.93% | 4.93% |
| Loan Type | Today | Last Week |
|---|---|---|
| 36 Month New Car Loan | 6.70% | 6.67% |
| 48 Month New Car Loan | 6.82% | 6.79% |
| 60 Month New Car Loan | 6.86% | 6.83% |
| 72 Month New Car Loan | 6.12% | 6.12% |
| 36 Month Used Car Loan | 7.17% | 7.15% |
| 48 Month Used Car Loan | 7.05% | 7.00% |
| Card Type | Today | Last Week |
|---|---|---|
| Business Credit Cards | 9.74% | 9.74% |
| Low Interest Credit Cards | 11.65% | 11.65% |
| Cash Back Credit Cards | 12.08% | 12.08% |
| Balance Transfer Credit Cards | 12.13% | 12.13% |
| Reward Credit Cards | 13.29% | 13.29% |
| Instant Approval Credit Cards | 13.32% | 13.32% |
Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.
Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.