Schedule Your Summer Fun

Vacations are all about priceless memories of water slides, wide smiles, inside jokes the kids will tell for years to come (cue needle screeching across the record album), and dropping a few c-notes a day.

That buzz-kill statistic comes from AAA's annual vacation survey, which revealed that last year, the average family of four shelled out $261 a day ($120 for food and $141 for lodging) for their R&R -- that's $1,827 for seven days away from the daily grind, not counting travel tchotchkes and pit stops for stomach remedies. No soft-focus lens can soften the blow of that bill.

Have plastic, will travel

The cost of travel makes it worthy of its own budget line item. So treat it like one by formalizing your savings goal. For example, if you plan to go away in August, start socking away $304.50 a month (to reach the $1,827 total mentioned above).

Unless you want your credit card statement holding a place of prominence in your photo album, the best way to pay for R&R is to plan ahead and pay cash. However, that's not the M.O. for most travelers.

A survey a few years ago found that about 40% of vacationers financed their travel plans with plastic -- and more than half didn't pay off the tab right away. We don't want you to stay at home and mope, but if you can't afford to pay cash for that cruise/camping trip/Civil War re-enactment outing, ask yourself if you're willing to pay double for it. Because that's what it'll cost if you pay just the minimum amount due on your credit card. 

Don't forget to include the cost of activities and extras like doodads to placate the kids and chocolates for your pals back at the office. Travel pros recommend padding your budget by 10% to 15% to avoid sticker shock.

Vacation planning = budget travel

Everyone knows that advance planning is everything when it comes to travel. Nowhere is the savings more significant than when shopping for airfare. The bonus to arranging your getaway now is that you can solidify your plans before all the aisle seats are taken (and have something to motivate the kids to do their chores).

Cheap flight shopping 101

Track fares for a while. Many websites will keep an eye on airfare costs and alert you to the best deals based on your travel criteria. Check out Farecast.com for guidance on when to buy; cFares.com to search airlines, travel wholesalers, and agencies (for a membership fee, it also offers a name-your-price feature); and Airfarewatchdog.com for cheap flights before they hit the major travel portals.

Do comparison-shopping diligence. Make sure a deal is really all that by comparing your quotes with those offered directly by the airline. In addition to the biggie travel sites like Expedia.com, Travelocity.com, and Hotels.com, check out lesser-known aggregators like TravelZoo.com, Kayak.com, Sidestep.com, 1800FlyEurope.com, and I'mWillingToRideInCargo.com (kidding on that last one). You might encounter some fares that require you to pick up the phone and contact the agent directly. Do it -- that's how I got a direct flight to Paris for half of what it cost on another website.

Pay with points. Planners -- those who book their travel months in advance -- will get the most out of their points and frequent-flier miles. These days the restrictions on rewards redemption are plentiful. (Check out mouseprint.org to see how the fine print might affect your travel and InsideFlyer.com for the most recent news about rewards travel.) A good rule of thumb is to pay cash for tickets that cost $250 or less instead of wasting points (unless they are due to expire). Better savings may be had by using your points to pay for a hotel room. And if you're just short of qualifying for a freebie, check out Points.com to see if you can swap or augment your rewards kitty.

Cut travel costs even more

If your dream getaway is still out of reach, it's time to tweak your plans.

Wing it with a last-minute deal. Hotels and airlines hate empty rooms and seats. When it gets down to the wire, they'll settle for a song. But you have to act quickly: The deals are limited and they can go fast. Sign up for weekly email alerts with a few different travel websites. If you're already packed, Site59.com searches for deals on airfare, car rentals, and hotel rooms that can be booked as little as three hours before takeoff.

Vacation at home. Look for luxury hotels in your area that cater to business travelers. Many offer sweet rates on the weekends -- with access to amenities like spas, pools, golf, and fine dining -- when rooms sit empty otherwise.

Check out my hometown. You might have your eye on Hawaii, but unless you're prepared to pay $559 per day for a family of four, according to AAA, it may not be in the cards. While my hometown of Lawrence, KA, may not be as brag-worthy, at $193 a day for a family of four, it still beats the high cost of cities like D.C. ($518) and New York ($329).

Then there's always time travel. If you can get back to 1950, you can treat your family of four to a whiz-bang getaway for just $13 a day.

Dayana Yochim's top tip for overcoming language barriers while traveling overseas is to pretend that she's being paid a compliment. "Oh, this old thing? It's just from the Gap! But thank you! It IS a great color, non?" Over at www.GreenLight.Fool.com, she writes about money in a language everyone can understand.