7 Financial Tips for Your Summer Vacation

Are you ready for your summer vacation? Here at 210 Financial, this is probably our favorite time of the year, and vacations are a huge part of that! There really is nothing better than going somewhere special or somewhere new with those you love.

How we plan vacations changes depending on the age of our children or where we dream of traveling! But the reality is many trips can seem out of reach or even impossible due to financial restraints. The travel bug may have us chomping at the bit to travel and willing to throw caution to the wind, but our financial side may have us wondering how we can spend wisely.

There are ways to still enjoy a great vacation AND stick to your budget. Before you hit the road, we’ve got some financial tips to share with you to make sure your summer vacation doesn’t break the bank.

(We’ve also got a podcast episode about this topic! Check it out.)


Here are 7 financial tips for your summer vacation:

1) Don’t put expenses on a credit card without a plan to pay it off.

This is a HUGE one. Credit cards can too easily be used to purchase things that we would otherwise not be able to afford. This is a dangerous spot to be in because it means we can get into a heap of trouble quickly. If you already have the finances set aside to pay off your card right away, then it’s alright to strategically use your credit card in order to get rewards. However, please don’t use your credit card to pay for something you can’t afford.

2) Check for deals.

Even a couple years after the height of COVID-19, many vacation destinations are offering deals to help entice visitors back. In these times of high inflation, many resorts, hotels, and other destinations are trying to regain your business. Make sure you do some research to find deals your vacation destination may be offering (they usually won’t just tell you if you call them directly; you’ve got to search or call around!). Be open to changing up your plans if you find a deal too good to pass up.


You may also want to consider traveling in the “off season” when prices drop due to less demand. This is a great option if you are homeschooling your children or have a more flexible schedule.

3) Pack snacks for your road trip.

Eating out and buying snacks on the road can get expensive pretty quickly. It’s far cheaper to pack a cooler and buy snacks in advance. You might also consider picking a vacation spot where you have a kitchen and can have the option to make your own meals rather than having to eat out every day you are on vacation.

4) Consider combining vacations with another family.

If you have a good friend that wants to take a similar vacation, you might consider combining your trips into one! Carpooling can help you save on gas and oftentimes you can rent a larger vacation home cheaper than the combined cost of renting smaller homes individually. Even better, you might get your extended family together to take one big vacation and split costs!

5) Continue contributing to your investments.

This is a mistake we often see. You should not stop contributing to your investments or paying any regular bills to pay for your summer vacation. If you aren’t able to afford the cost of the vacation without ceasing to contribute to these things, then you may not be able to afford going on vacation this year. It’s important to have a clear financial plan and stick to it!

6) Start budgeting for next year’s trip now.

If you know you’d like to travel or take a vacation each year, then you should start saving for it in your monthly budget. That way when you get to next summer, you will already have all the cash on-hand to fund your summer vacation!

7) Check out local events.

Vacations are nice to get away from the grind of everyday life, but sometimes that isn’t always possible. If you find yourself needing to take a staycation this year, check out your local events. Your community (or one nearby) may have free movie nights or affordable festivals you can go to. And if you are traveling this year, check out your summer vacation destination for local events that you can partake in!

Summer vacations can be a really fun time and a much-needed break for you and your family, but they shouldn’t break the bank or put you behind on your financial plan. We hope these financial tips for your summer vacation are helpful as you plan your next trip! Now go hit the beach, the woods, or a hotel as you enjoy the summer months with your family.

Oh, and don’t forget! If you would like some help with your financial plan, give us a call at 309.263.1333. We’d love to support you!

210 Financial is more than just numbers. The “210” in our name stands for a childhood home that represented safety, love, and family. That is what we want to provide for everyone that we care for. Welcome home. Welcome to 210.

Investment advisory products and services made available through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. 1807914 – 5/23

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