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5 Ways To Save Money on Vacation

Summer vacations come to mind when warm weather arrives. Are you looking for a summer vacation that won’t break the bank? Here are some tips for saving money during your vacation from The Money Skim:

1. Make Sure You Do Your Research 

Make sure you compare deals and look for discounts well before your vacation. Your costs for lodging, meals, attractions and transportation will be less out of control the more preparation you do.

2. There is Nothing More Significant Than Timing

Hotel prices, theme park prices, and airline prices often vary by day of the week. Prepare for your trip by doing some research. It will save you money and you won’t have to deal with crowds. Your best bet is to do everything on the weekdays and avoid Friday thru Saturday as much as possible.

3. Preparation is Key To Saving Money on Vacation

Carrying multiple methods of payment is always a smart idea wherever you go, whether it’s cash, debit cards, credit cards, or traveler’s checks. In the event that one isn’t accepted, there are other options. To minimize any inconvenience when using your credit or debit card outside your area or outside the U.S., let your bank or credit union know in advance that you’re traveling.

4. Avoid Fees Associated With Foreign Transactions

For transactions outside the U.S., some credit cards charge a fee of 3-5 percent. It is possible to avoid foreign transaction fees with some credit cards. Make sure you are familiar with your card’s terms and conditions before using it to save money on your vacation.

5. Plan For It in Your Vacation Budget

Budgeting is crucial to any financial decision. To maximize your vacation fun and minimize your financial worries, you need to know how much your vacation will cost before you leave. Establishing a regular vacation savings program can help you save for the next one. You’ll have control over your finances and will have funds available before leaving.

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