How I Saved A Lot of Money Taking a Family Vacation

Written by adminAugust 6, 2018
Saving

As we enter the dog days of summer, back-to-school commercials are already blasting on every TV channel. Preseason football is making us think about fall. So, you might be wondering if I’m a bit late with this article. If you had a family vacation this year, it was probably in the summer months before now.

But, as a rule, we at Financial Helpers understand that the best way to save a lot of money! And vacations don’t have to be summer mainstays either. If you’re a family with a tight budget, then this article is for you!

Some trips can cost thousands of dollars, depending on the size of your family vacation. Admission to theme parks, hotel, car rental if you choose to fly, airfare, and food can all vary depending on the time of year.

One of the first things I did to have a great vacation for cheap is by doing a season swap. Various destinations have busy seasons where the price to stay there is extremely expensive. You can be forced to $300 per night at a hotel that only charges $70 in the offseason. Mark ups can be incredible!

Attractions More Expensive for a Family Vacation

My sister lives in a tiny town in Northern Michigan that’s very touristy in the summer months due to all the amazing outdoor activities near Lake Michigan and its proximity to Traverse City, one of the state’s top attractions. I know when it’s summer, I won’t even dare to book a room unless I want to spend over $150-$200.

When I visited the family over the Christmas holiday, it only cost $30, which was a good deal. This tells me that I can save a lot of money visiting destinations during the times of the year when these places are practically begging for business.

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Here’s the thing: booking early has the same effect. If you wait until the last minute to buy a plane ticket or book a hotel, you will pay A LOT more than booking your family vacation a year to six months in advance.

Food is also another major expense that needs to be planned ahead of time. You can easily save a few hundred bucks by choosing a hotel that offers free breakfast. Some of the pricier hotels might offer breakfast service, but you can expect anything you purchase, like room service or anything from the mini-fridge, has been marked up considerably.

Free Is Always a Good Deal

If you get free breakfast from the hotel, the selection might be limited, but it will save you a lot of money over the life of your trip.

It’s also important to remain realistic about when you fly. It doesn’t matter when you book your tickets if you try to fly out around a holiday. The fares will always be expensive during peak times of the year. But if you’re not flying on a holiday, there are days of the week that tend to be less pricey than others.

For example, weekends are a peak time for flying, so fares on a Friday might be higher than flying out on a Wednesday when there’s less traffic.

Cheapair.com did a survey and found that travelers saved $200 on Thanksgiving travel. They left on Monday and returned on Friday rather than the typical timeframe. So, if you hope to save money on travel, choosing infrequent days can save a lot of money.

Just because you’re on a tight budget doesn’t mean you can’t enjoy a nice family vacation. Get away from the grind! Just make sure you plan early. Sign up for alerts, book tickets to fly out during the week, and choose destinations during non-peak times. You’ll save a lot of cash in the long run.

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Women Need to Save More than Men

Written by adminJune 4, 2018
Saving

In today’s world, we seem to be entering a new financial revolution for women. Talk of the pay gap has increased, which has led to women gaining more respect and equal pay in the workplace.

Despite this new-found attention, women still are iffy about money. They lack confidence in saving for their future, don’t like to talk about it, and would almost rather talk about anything else.

According to a recent survey, only 52% of women feel their confident enough in managing their investments. That’s just over half of all women!

There’s still a strong feeling that men are providers and they take care of the family, but there’s a fairly large loop hole that many couples don’t think about when planning for retirement: women live longer than men.

This is why it’s super important to help women understand that financial matters aren’t just about empowerment, but having the ability to survive if something bad happens.

Lorna Sabbia from Merrill Lynch agrees.

“As women are at a tipping point to achieve greater financial empowerment and independence, it is even more essential that we support women in helping them pursue financial security for life. This includes encouraging women to invest more of their assets, save earlier for retirement, and pursue financial solutions that closely align to their personal values and life paths,” she said.

There’s a real investment gap between men and women and it’s troubling. Investing often seems like a ‘man’s game’ and can seem too analytical. They do well with other aspects, like budgeting, but investing isn’t a strong suit for most women.

On average, women live 5 years longer than men. 84% of all people over 100 are women. While this is a continuing trend, a little less than half of all women worry about running out of money. This is not a fear that will go away anytime soon, especially as technological developments allow us to live longer.

This is a major problem that needs to be addressed. Over half of all women say they regret not investing more while they were able. 60% say they didn’t invest because they just didn’t have the knowledge necessary. 34% cited a lack of confidence.

To combat this, women should consider hiring a financial planner and taking the time to learn how to properly invest.

It also shouldn’t be a subject women shy away from with their husbands. They should be in on the front lines and discussing ALL aspects of future saving, including investments, so they understand how it works and they know what their options are when the time comes.

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