Tag Archives: Affordable vacations

8 Tips for Planning a Budget-Friendly Vacation

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It’s summer and vacations are a wonderful way to create lasting memories with your family, but they often come with a hefty price tag. At First Financial, we understand the importance of balancing fun and finances. Here are some practical tips to help you plan a memorable vacation without breaking the bank.

1. Set a Realistic Budget

Before you start planning your vacation, it’s essential to determine your overall budget. A good rule of thumb is to follow the 50/30/20 rule: allocate 50% of your income to fixed costs, 30% to discretionary spending (which includes your vacation), and 20% to savings. This approach helps you identify how much you can afford to spend on your trip. Next, outline all vacation-related expenses including travel costs, accommodations, food, activities, and souvenirs. This will give you a clear picture of the total trip cost and how it aligns with your budget. Don’t forget to set aside funds for unexpected expenses!

2. Plan and Book in Advance

Booking your travel and accommodations in advance can save you a significant amount of money. Airlines and hotels often offer early-bird discounts. According to Hopper, airfare prices tend to rise as the travel date approaches – so it’s best to book your tickets early to secure lower rates. Additionally, consider traveling during the off-season or mid-week to take advantage of cheaper rates.

3. Use Credit Card Rewards

One of the best ways to save on vacation costs is by utilizing credit card rewards. First Financial’s Visa Cash Plus Credit Card, linked to the uChoose rewards program – allows you to earn points on everyday purchases that can be redeemed for travel expenses like flights, hotels, and rental cars.* Make sure to check your rewards points and use them strategically to offset vacation costs.

4. Choose Affordable Accommodations

Instead of staying at expensive hotels, consider more affordable options like rental houses, Airbnb, or even camping. Traveling with friends or family and sharing the cost of accommodations can also reduce expenses. If you prefer hotels, look for deals on third-party travel sites or book directly with the hotel to take advantage of any special offers.

5. Save on Food and Drinks

Eating out for every meal can quickly add up. Save money by bringing food, groceries, and drinks if possible, especially for breakfast and snacks. If you’re flying, consider stopping at a local grocery store once you arrive. Cooking some of your meals can be a fun way to spend time with those you’re traveling with too. When dining out, be aware of prices before ordering and research restaurants and menus beforehand.

6. Plan Budget-Friendly Activities

Look for free or low-cost activities at your destination. Many cities offer free museums, parks, and public attractions. Hiking, beach days, and exploring local landmarks are great ways to enjoy your vacation without spending much. Research which activities are available in advance and prioritize those that fit your budget. Facebook events and town/city websites are great places to find lists of free and affordable upcoming local events.

7. Manage Souvenir Spending

Souvenirs can be a fun part of your vacation, but can also lead to overspending. Set a strict budget for souvenirs and consider using cash to avoid charging them to your credit card. Limit everyone to one souvenir each (and think about – do you really need to buy any souvenirs at all?) and before purchasing – make it a point to think about whether it is something the recipient will use and cherish, or if it will end up gathering dust on a shelf.

8. Consider Travel Agents

If planning a vacation feels overwhelming, consider using a travel agent. They often have access to exclusive deals and can help you stay within your budget. Provide them with a clear budget, and they can plan a trip that meets your needs without the stress of overspending. Often, travel agents do not charge you anything for their services as they are compensated by the companies they book with.

A budget-friendly vacation is achievable with careful planning and smart spending. By following these simple tips, you can enjoy a memorable vacation without financial strain. Start planning your next getaway with this advice in mind and make the most of your time away without breaking the bank.

For more personalized assistance and tailored solutions call 732.312.1500, visit a branch, or explore our services online.

*APR is 18%, when you open your account based on your credit worthiness. This APR is for purchases and will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fees. Other fees that apply: Balance Transfer and Cash Advance Fees of 3% or $10, whichever is greater; Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. A First Financial membership is required to obtain a Visa® Credit Card and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. uChoose Rewards is a registered trademark of Fiserv Inc. Login to uChoose Rewards through Online Banking, by clicking on your Cash Plus Credit Card account to view current offers.

Tips for a Last Minute Vacation on the Cheap

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There are (unfortunately) just a few more weeks left of summer. If you’re looking to plan a last minute getaway without breaking the bank, follow our money saving vacation tips!

Stay with Family or Friends – Do you know any family or close friends who live in or near a great vacation spot or a city you’ve always wanted to visit? If so, staying with those you know gives you a chance to catch up and spend time with them, as well as it’ll spare you the cost of paying to stay in a hotel. Be sure to not wear out your welcome though. During your stay – offer to buy groceries, help out around the house, clean up after yourself, and cook for or take your host out for a decent meal or two. Another idea is to rent a house or cabin with friends or family. This will allow you to split the cost of wherever you decide to stay with however many other groups there are in your party.

BYO Food – Dining out during a week of vacation can rack up a hefty bill fast. While it’s nice to not have to cook for yourself and eat out at a trendy restaurant or two while on vacation, if you do so three meals per day for a whole week – it can really blow your budget. If you’re staying with someone you know or renting a house/condo for the week, bringing your own groceries is easy and will help you keep your costs down. Even if you’re staying in a hotel, you can still pack some food items to keep on hand so you don’t have to buy extra during your trip. For example, if your hotel has a small refrigerator – you can bring some small groceries to store in there (think milk for cereal or coffee creamer to make your own coffee in the room), or stretch your restaurant leftovers out and have them for lunch the next day. You can also bring some non-perishable snacks like protein bars, to keep on you for during the day to avoid having to purchase a big breakfast or lunch out. If you find that you are dining out quite a bit, try to make dinner a lower cost meal such as checking out one of the local pizza spots. You’ll spend less money on dinner, and who doesn’t love pizza?!

Hit up Free or Low Cost Attractions – If you’re visiting a new city, sometimes it’s fun to just walk around and explore the area without spending a dime. Or if you’re near a beach, lake, or park – this is usually a relatively inexpensive day if you plan it out right and bring your own drinks, food, and snacks in a cooler. Some beaches charge entrance or parking fees for the day, but they are generally pretty affordable. Local museums are another low cost alternative, which also will provide an educational experience and fun for the whole family. Do some research before your trip, and find out which attractions you’d like to see and how much they cost. Community calendars or area Facebook groups may also help give you some more ideas from locals.

Transportation – Is it absolutely necessary to rent a car on your trip? If you’re staying with someone you know, can they let you borrow theirs for the day or drop you off and pick you up? Also, look into whether there are modes of public transit like a bus you can take to get around, train, rent a bicycle – or are there things to do within walking distance? If you do need to rent a car, see if there’s an online promotional coupon code you can use when you book or a first-time customer discount.

There you have it, you can still plan an end of summer vacation and save money in the process. To stay updated on the latest financial insights as well as money saving tips and strategies – be sure to subscribe to our First Scoop blog or our monthly e-newsletter. Wishing you enjoyable end of the season travels!