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Submitted questions will be answered by an Arvest banker and may appear on the Arvest Blog.

Your Monthly Money Manual: Planning Your Spring Getaway

Monday, February 06 at 04:04 PM

Are you singing the winter blues yet?  Punxsutawney Phil told us last week on Groundhog Day that we have six more weeks of winter.  Let’s look at the bright side of this—that’s six weeks to plan your spring vacation.  The golden rule for planning any vacation is to PLAN. (Go figure!)  Planning weeks, and even months, in advance will save you money on your vacation, which is why February is your month to plan.

Keep An Open Mind.  It's fine if you have a dream destination set in stone, but being open to options can be a real cost-saver.  Before booking, do a quick web search for inexpensive vacation spots.  For example, if you’re dreaming of a tropical, sunny spot like Bora Bora, you may consider a closer spot like the Bahamas instead. 

Do Your Homework.  Search, compare, calculate, read, research, etc.  Find the best deal for travel, lodging, food, sight-seeing, and everything in between.  Third-party sites like Expedia.com and Travelocity.com can seem appealing and easy.  And, while those sites often offer some really great deals, many times it’s cheaper to book directly with hotels and airlines.  Also look into all-inclusive resorts to save on food, drink, and entertainment costs.

Become Airline Savvy.  There are tricks to smart flying.  Ask a frequent flyer friend for any insider tips he or she may have.  Some common tips include:

  • Use a comparison site to see some different pricing options from different airlines and third-party booking sites.  Like mentioned above, also visit airline sites directly—some of them may feature specials or not include their prices on the comparison sites. 
  • Also, it’s known to schedule your flights on Tuesday, Wednesday or Thursday for cheaper prices. 
  • Understand the luggage requirements—these fees can really cost you if you don’t follow your airline’s guidelines. 
  • And of course, book as far in advance as possible.

Think Things Through.   When budgeting for a vacation, many often make the mistake of only looking at big-picture expenses like lodging, travel and entertainment.  It’s important to consider ALL expenses when determining how much you should expect to spend.  Here are some checklist items that you don’t want to forget:

  • Rental Car or Taxi Fees
  • Meals and Snacks
  • Souvenirs and Gifts
  • New Clothes for the Trip
  • Pet and Home Care Expenses
  • Passport
  • Miscellaneous Hotel Fees (internet, room service fees, parking, etc.)

Summing it up:  Plan wisely and you'll be returning from your vacation with more than a nice tan. 

 

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