Saving for Summer Travel

Too many people return from a relaxing vacation with a spending hangover — a pile of credit-card bills that sets them behind financially — adding stress to the rest of the year. A few key steps can help you save money on vacation and save you some stress, too.

Start saving now. Setting aside a little money every week can make it a lot easier to build up a vacation fund. Consider cutting back on some entertainment expenses and deposit the extra money in the vacation account so you can see the immediate impact. Use part of your tax refund or other extra cash to build the fund.

Start researching your options now. Before you lock in your travel dates or ask for time off, do some research to see if you could save money by shifting your travel to different days or weeks. Flying on a Tuesday or Wednesday, for example, may be less expensive than weekend travel.

Be flexible with your itinerary. You may save money by using a different airport that might be slightly farther away from your home or your destination. But don’t forget to factor in the cost of getting to the alternate airport.

Sign up for alerts. You’ll get an emailed heads-up when airlines, hotels, and online travel sites have special deals.

Compare the cost of travel packages. You may save money by bundling your airline, hotel, and rental car together. But the opposite might be true, too — some online travel sites may offer competitive rates by piecing together flights from two different airlines.

Please note: The contents of this publication provided by MissionSquare Retirement is general information regarding your retirement benefits. It is not intended to provide you with or substitute for specific legal, tax, or investment advice. You may want to consult with your legal, tax, or investment advisor to review your own personal situation. Some of the products, services, or funds detailed in this publication may not be available in your plan. This document may contain information obtained from outside sources and it may reference external websites. While we believe this information to be reliable, we cannot guarantee its complete accuracy. In addition, rules and laws can change frequently.

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