Maintain Financial Fitness When Vacationing

By: Raevyn Jones, Marketing Coordinator, NHS of Baltimore

As we move closer to the summer season, many Americans are considering family vacations. One of the main issues that arise when going on vacations is that we enjoy ourselves so much they we may become a little out of touch reality and overspend within our budget.

Another mistake people make is going on vacations that they cannot afford. Although it is a dream of many of us to go to extravagant places like Paris, London, or Milan; in order to stay within our budget it is important to find cost effective vacations. The first thing families should do is take a look at the household budget and then decide how much can be budgeted for a vacation.

While saving up funds for vacation, think about a destination. Ask yourself with this vacation be done by plane or by driving? When deciding on a vacation destination it is resourceful to look into information on off-season travel, promotions, and advanced ticket purchases. Other options like traveling mid-week as opposed to the weekend can save money and traveling with more people in order to split the costs.

As tourists areas tend to be very pricey when it comes to food and leisure, finding an all-inclusive vacation can save lots of money. Areas such as Mexico, Puerto Rico, and resorts in Jamaica offer all inclusive packages which include 3 meals per day at various restaurants, unlimited beverages, 24-hour complimentary snacks, transportation, leisure passes and free activities.

If you wish to go on a vacation that is not all-inclusive, it is important to create a budget for when you get to your vacation destination so that you do not overspend. With the help of Neighborhood Housing Services of Baltimore’s financial literacy classes, you can come up with a budget that is appropriate for your particular vacation.