The Money Couple Minute - Flight or Fight: 4 Steps to Your Best Summer Vacation Ever

When money is tight, the first thing to get cut from the budget is fun--things like vacations, dates, and family outings. But those are the parts of life that make it interesting! And what good is having a tight budget if you aren't enjoying the life you've worked so hard to build?

If money is tight this year, don't automatically assume you can't take a vacation. Instead, take a good look at your budget and use these guidelines to decide what kind of get-away you can get away with.

1. Make it about memories and don't break the bank. When it comes to family time, money shouldn't be your only consideration. As a family, talk about past vacations and experiences. What made them memorable? What kinds of memories would you like to make this year? Of course you want to be responsible and not blow the kids' college fund on a trip to Hawaii. Great sites for deals include www.travelzoo.com and www.bookit.com. You could always be a "tourist in your own town". Turn off the ringer, don't worry about the mail and tell all your friends you are on vacation. Treat yourself to the tourist activities in your area, special meals and fun memories you usually get out of town and save a ton a money in the meantime. Make once-in-a-lifetime moments with your family without breaking the bank.



2. Start planning now. Get your vacation on the calendar, make a reservation, arrange to take the time off of work, and start saving. We find that if a vacation is on the calendar we make it happen, one way or another--if you wait until you have the money in hand, you'll never go. This can be especially true for Savers who are hesitant to spend money on anything. But by making your plans now and putting away a little money every week, your vacation will not only become more affordable, but more fun!



3. Do some homework. Advanced planning not only helps you save up for a vacation, it can give you time to really plan your vacation spending. For Savers vacations become stressful when the little things-meals, souvenirs, taxis, tips, etc.-start adding to the cost of the trip. By budgeting a realistic amount of money for incidentals, everyone can relax. According to a 2007 survey by AAA, the average family of 4 spent $269 per day on food and lodging for their family vacation. Use that number as a guide for making plans.



4. Redefine vacation. The most important part of a vacation isn't where you go, but who you're with. So if you can't afford a big trip to the ocean or family amusement park, don't go. Instead, go camping, do a bike tour, take a few day trips. Don't let the lack of money stop you from finding ways to have fun together. The whole point of healthy financial communication is making sure money doesn't rule your life. So as you look at your summer budget, leave room for some fun. It will give you a great return on your investment.