3 Tips for Having an Affordable Summer Vacation

3 Tips for Having an Affordable Summer Vacation

by Jacqui Kearns

As the country begins to slowly emerge from the COVID-19 lockdowns, you may be thinking about where you’ll be taking your summer vacation this year, if you’re able to travel. Unfortunately, millions of Americans are also suffering financial setbacks as a result of mass business closure and unemployment. This means you may not have been able to build up your vacation savings fund, which we would recommend having each year, and be thinking about forgoing this year’s vacation. Before doing that, you should think about how you can make the best of this summer without breaking the bank. Here are three ways you can have an affordable summer vacation this year:

globe

1. Opt for road trips over plane trips. If you typically travel long distances for vacation that require plane trips, this summer might be a good year to opt for a road trip by car instead. This will be especially economical because while airfare could actually rise this year1, the price of gas prices remain low2, even as more people start driving as the economy reopens. You can plan plenty of exciting road trip itineraries, whether visiting some of the National Parks or driving to a beach in a different part of the country. Think outside the box!

2. Stay with family or friends. Lodging is a big part of the expense for any vacation, whether you’re staying in a luxury resort or a roadside motel. There are more affordable options in the age of the sharing economy, notably Airbnb. But an even more affordable alternative to paid lodging is to plan a trip to visit family or friends – and then stay with them. This tip can help inform the creative destination you choose as well; think about friends or family you haven’t seen in awhile and would like to visit, and/or who live in places that you’ve always wanted to visit. In return, maybe you can invite them to come stay with you at another time this summer!

3. Stay home and explore your own area: Finally, you shouldn’t underestimate the value of a “staycation,” whether that means you travel closer to home than normal or stay home entirely. Maybe you can just take a week or two off and do day trips to the beach, lake or somewhere else, all while catching up on house or yardwork. Purchasing comfortable outdoor furniture can help transform your backyard into a vacation hotspot this summer. This will not only have a positive impact on your finances, but perhaps allow you to gain a new appreciation for your own city, town or state.

There’s no question 2020 is going to be a difficult year for many people, given the extent of the COVID-19 lockdowns and the economic fallout. But while this is certainly a time to watch your spending, a vacation this summer is probably more needed than ever before, after what we’ve all been through these past few months. Following one or more of these tips is a great way to have an enjoyable, unforgettable and affordable summer vacation.

For additional information and updates from Affinity about COVID-19, please visit https://www.affinityfcu.com/banking/we're-here-for-you.aspx

                                                   

This information is for informational purposes only and is intended to provide general guidance and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments regarding the matters related to your condition are made.  

1 Retrieved from https://www.barrons.com/articles/airfare-bargains-coronavirus-cruises-cheap-51589549611

2 Retrieved from https://www.convenience.org/Media/Daily/2020/Jun/3/1-More-People-Drive-as-Gas-Prices-Stay-Low_Fuels