Did somebody say…. Vacation?

Who doesn’t like a nice vacation!!  Desired vacation spots are different for everyone.  Some like to camp (tent or RV) while others desire a 5 star resort, some enjoy long road trips while others prefer to fly, some enjoy vacations with family / friends, while others prefer their immediate household.  The options here are really endless.  Whatever your desired / perfect vacation looks like, here are some tips to help make your next vacation more relaxing:

  1. Do your research.  Find out what there is to do in the area BEFORE you arrive.  Doing this allows for a couple things to happen:
    • You can have discussions with everyone you are going on the trip with to obtain input from everyone.
    • Saves you time when you get there!  Instead of wasting your vacation time trying to decide what to do you will already know which items are your must do while away. 
    • Doing your research allows you to plan out your vacation budget.  Everyone loves a vacation, but nobody loves having the vacation expenses follow you home due to lack of planning.

  2. Have a plan.  Having a plan can really help get the most out of your vacation because you will already have a rough agenda of what you all would like to do.  This can be as detailed or rough as you wish.  Creating this plan will allow your brain to process all your upcoming events instead of wasting energy trying to figure it all out on the fly.

  3. Most importantly, create your budget and saving targets!  Doing this allows you to tell your money how it’s being spent instead of it just disappearing into thin air.  Creating your vacation budget also makes you aware of how much you need to save and if other items currently in your budget need to be paused.  Having a budget for vacations does a couple things:
    • It allows you to be ok with spending while you are away.  It’s ok because the money you are spending has already been earmarked for vacation.
    • A budget brings a sense of peace to your vacation.  Knowing it’s fully funded because you spent time saving your hard earned money provides a sense of peace.  This peace of mind comes from knowing you took all the right precautions and aren’t spending above and beyond your monthly income.  The most important item here is peace knowing your bills will all continue to be paid.
    • Allows you to be generous.  If you are going with friends, maybe you build in a way to treat them while you are all on vacation.  If you have extra left in the budget, maybe you leave a larger tip at a restaurant?  Maybe you give some to charities if there is money left over.  You could even leave it in the account so there is a jump start on the next trip.  The possibilities here are endless!!

Planning out your trips in this fashion can also be a fun thing for the entire family to participate in.  Strengthening your family bond is the most valuable part of any trip!  We would love to hear some of the fun things you have done to plan for your family vacations.  Leave your comments below or reach out to us directly to let us know.

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Crossroads Financial Coaching LLC