Plan a vacation that won’t stress your savings

Start with the goal, not the destination

Ask yourself a simple question: What do you want from vacation this year? Maybe it’s time to:

• Relax and have absolutely no plans
• Expose your kids to art, culture, or history
• Get back to nature
• Go on a wild adventure

A goal makes it easier to plan a trip that fits your budget. Instead of spending a fortune, you can scale your trip as needed and still reach whatever you and your travel companions are after.

Traveling with others will take some compromise. For example, your family could spend a few days seeing the sights in Washington, D.C., then drive a few hours to Cape May to relax at the beach. There are endless travel itineraries online to mine for ideas.

Set a realistic budget. Add a little padding.

When you’re relaxed, it’s easy to overspend. But you don’t want to undo all the fun with the stress of your next credit card bill.

That’s where a travel budget comes in. Find a number you can comfortably afford, then assign every dollar to a category, like transportation, food, lodging, activities, and pet and house sitters if needed.

• Make tradeoffs. If fine dining is your thing, book a less expensive hotel so there’s more money for restaurants. Or drive instead of fly and spend the difference on activities.
• Travel when demand is low. If you vacation during the off-season, you can save hundreds on hotel and airline costs. There are incredible package deals online, too. (Plus, your vacation photos won’t get lost among all your friends’ travel pics on social media.)
• Build in extra room for unexpected expenses. It could be a must-have item to ship home or something far less exciting, like a pricey resort fee buried in the fine print.

Build the best staycation

If a big trip isn’t realistic this year, you still have plenty of options.

Despite the name, a staycation doesn’t tether you to your home. Use the time to break from your routine and do things nearby that you’ve always meant to do but haven’t, like visiting local attractions, new restaurants, or quaint neighboring towns.

The idea is to reframe how you think: A luxurious spa day can cost less than an airline ticket. It’s relaxing. There’s plenty of legroom. And you come home with money in the bank. 

Find the middle ground

Vacations don’t have to be all-or-nothing. Visit that amazing place but spend five days, not seven. Instead of booking a hotel, try camping, renting a cabin, or traveling with more people to keep costs down.

If there’s a dream trip on your bucket list, open a savings account just for that goal. Then turn your dream into a real plan by setting up automatic transfers. Even small amounts build up over time.

Whether your getaway involves a passport, a road map, or your own backyard, the best vacation is personal, creating memories and leaving you refreshed, not financially stressed.