Whether you're traveling solo or with family, the start of summer often signals the beginning of vacation season. Yet, a recent survey from Bankrate reported that only 46% of adults plan to travel this summer, with affordability being the prime factor. Of those that are planning to brave high costs, 29% plan to take on debt to afford it.
Multiple studies show that vacations can be good for your health, including heart health and mental health. These positive correlations mean it’s good to get away from the workplace. But those perks can quickly fade if you're facing debt when you return home.
For those of you who want to go on a vacation but don’t know how to do it without going into debt, here are hacks for staying within budget.
Stay Domestic and Drive
Buying airfare can be one of the most expensive parts of planning a trip. To save money, stay domestic and go by car. Road trips are a great way to see more of the country, catch sights along the way, and bond with your fellow travelers.
Pack Light
If you do decide to fly, keep your travel belongings to a minimum. Try bringing outfits that are interchangeable, and plan on doing some laundry while you travel. By reducing your luggage to a carry-on, you can avoid fees for checking baggage while also making it easier to use public transportation in lieu of expensive car services.
Eat In
Instead of spending an arm and a leg eating out at every meal, keep your meal splurging to a minimum and buy groceries that you can easily snack on or cook. You can still eat local cuisine at a much lower cost than paying premiums at restaurants.
Use Points
Utilize any travel rewards or hotel points toward your booking to reduce the cost of your travel.
Sightsee for Free
Sightseeing doesn’t have to be a pricey endeavor. Visit a park, look for free museums, festivals, hiking trails, and outdoor performances.
Staycation
Taking a vacation doesn’t always mean going somewhere. Want to save money but need the time off? Stay at home and spend that time relaxing at a nearby beach, by the pool, or go on outdoor excursions that allow you to see your local sights while keeping the spending to a minimum.
Apply Savings to Debt
If you’ve managed to stay within your means, leftover funds can go directly to paying down debt. While vacations are important, debt can have the negative impact of undoing any good your vacation provided. But if you travel wisely, you can still relax and unwind or find a new adventure that won’t break the bank.