5 Ideas for a Frugal Summer Vacation

June 28, 2013

Now that summer has officially begun, it’s time to start thinking about your summer vacation. If a week at Disney World or a jaunt to a classy beach resort is on your radar, you’re probably looking at a serious expenditure so unless your finances are in tip-top shape, you may be better off exploring some less expensive options. By putting in some research and getting just a little creative, you can uncover plenty of great summer vacation options that won’t crush your bank account. Start with these five helpful tips:

1. Stay at Home
While it may not seem very glamorous, there are plenty of ways to have a great time right in your own backyard. Schedule an old-fashioned game day with your kids in which you introduce them to Red Rover, Capture the Flag, or any other games you enjoyed as a child. Next, plan a camping night, but instead of heading off to the campgrounds, do it right behind your house. The following day can be “Cook-In Day,” where the kids help you prepare exciting menus for breakfast, lunch, and dinner. You can also search the Internet for fun local events that you can pack the week with and save yourself a bundle at the same time.

2. Travel Locally
If staying home isn’t an option, check out your state’s tourism website and chances are you can find several fun and interesting things to do that won’t require significant travel or expenses. You may discover museums, historical sites, state parks, festivals, and other unique events that can be fun and memorable for the whole family.

3. Cut Your Airfare Expenses
If airfare ends up being a part of your travel expenses, there are plenty of ways to reduce those costs. Book your tickets early in the week when most sales occur and consider traveling on a Tuesday or Wednesday when demand for tickets is lower. Combine your kids’ luggage to save on baggage fees, pack your own meals to take on-board, and skip any additional unneeded extras like choosing your own seat.

4. Use the Most Advantageous Credit Card
Many travel credit cards can help slash your vacation expenses simply with the rewards they offer. For example, consider signing up for the Chase Sapphire Preferred Card and funding your summer vacation with it. If you sign up now and spend $3,000 in your first three months, you qualify for $500 in travel rewards that are credited to your account. This reward alone could potentially pay for the majority of your vacation.

5. Get Discounts in the Town You’re Visiting
Sign up for deal-of-the-day websites like Groupon and LivingSocial. Enter the zip code of the area you plan to travel to and discover deals and discounts on restaurants, bars, and entertainment opportunities. If you see something you like, buy it a bit early – you might not be able to print your voucher for a day or two, and you may have a hard time printing it once you arrive at your destination.

Final Thoughts
To help take the bite out of your expenses, open a separate bank account devoted solely to vacation funds. Set aside $20 per week starting now, and if you don’t vacation until late August, you could find yourself with over $100 to draw from. This might not break the bank, but it can go a long way in reducing your credit card bills. There’s no reason you shouldn’t have a fun and memorable summer vacation. Just inject a little frugality into the process so you don’t spend all winter catching up.

What are you doing for vacation this summer?