Tips for Planning Your Next Vacation

For those that loathe cold weather and snow, the warm air of spring can’t come soon enough!  Whether you’re looking for an escape from the winter or just want some time away to relax, a vacation might be in your near future.  Here are some financial tips to help you plan for your upcoming trip.

• Plan in advance and book at the right time.  Those still working can put a little extra aside each pay period rather than dipping into savings to pay for the trip.  Booking your travel arrangements early may allow for savings on airline and hotel costs.  According to Peter Greenberg’s travel blog (www.PeterGreenberg.com), there are specific days and times when the cheapest flights can be found.   For example, did you know that you can get the lowest fare if you book 45 days before you travel domestically? 
• Set up a budget for your trip.  Start by researching the cost of flights, hotels, rental cars and transportation.  Allocate money towards meals and entertainment expenses.  Make sure to leave a little extra for unexpected expenses that might come up.  There is no set rule on how much to spend since expenses and lifestyle choices vary.  The key is coming up with a fairly accurate overall cost for the trip and sticking to it.
•  Utilize travel resources.  Internet travel-based websites like www.tripadvisor.com are a great way for you to research possible vacation destinations and get recommendations on places to stay and things to do.  They even allow you to compare prices and make travel reservations online. 
• Credit cards offer travel benefits.  From travel insurance to airport concierge services there are many perks offered by credit card companies.  You can even redeem rewards points accumulated to subsidize travel costs.  Traveling internationally?  Make sure to use a card that waives foreign transactions fees.  Check out www.creditcards.com to explore the benefits and features of various credit cards.

Regardless of how much you spend on your next vacation, it’s important to remember that the memories can be “priceless!” 

For a list of states in which the financial planners at The GenWealth Group are registered to do business, please visit www.thegenwealthgroup.com.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations to any individual. No strategy can assure a profit or protect from loss.

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