Summer Travel and Vacation Budgeting

Contributing source: PracticalMoneySkills.com

If your kids are like mine, they have made you keenly aware of the fast-approaching summer break. And with the summer kick-off holiday of Memorial Day just a few days’ away, summer travel and vacation plans are being completed at a feverish pace. So here are some things to keep in mind, lest you overspend and end up with a year’s worth of debt for your freewheeling ways.

Plan Wisely
To help you reduce the financial stress of planning your summer getaway, we’ve found a cool and free web-based “travel calculator,” designed to help you plan your vacation budget and stick to it once you’ve left home. The calculator will help you determine the cost of gas (updated daily based on national averages) for your trip as well as account for all the small things that really do add up, and, if you’re not prepared, sneak up and cause you headaches for the rest of the year.

Take the stress out of your next vacation
Jason Alderman, director of Practical Money Skills for Life, shares insights and links to websites where you can research and save money.

Don’t turn a glorious summer into a winter of discontent
Thinking of spending beyond your means for this year’s vacation? Find out what that will really cost with Practical Money Skills for Life’s Cost of Credit calculator.

Stop identity theft before it happens
Keep your identity safe and your money where it should be– in your account. Be aware of situations that identity thieves love.

Check your credit report when you get home
Even if you think you’ve kept all your information and valuables safe, we recommend checking your credit report for suspicious activity when you return home. Check out or last post, “Tips to Help Build and Maintain Good Credit” for more information.