What to Consider Before Doing a Vacation Rental by Owner

August 23, 2016

Every year, we do a summer family vacation. This normally involves planning for the “whine factor.” What would my husband and I like to do that we think the kids would like with the least amount of whining?

We settled for a vacation in the mountains around the Tennessee area, visiting underground caverns and waterfalls. As always, I shopped around for the best deal for hotels for a family of four and found vacation rentals by owners to almost always be much cheaper and at the same time giving us more space. We have been using vacation rentals for a few years, and as I talk to friends about our experience, below are some of the things I tell them to consider before choosing a rental property:

What equipment is available for use? We rented a condo for a beach vacation, and I brought everything for the perfect vacation: beach chairs, toys, and towels. Had I asked in advance, I would have found out that the condo owner supplied everything.

In fact, her chairs were better than ours. The owner of the condo even had body boards and large water guns – a huge hit with my kids. Before lugging a bunch of stuff that will just take up space, contact the property point of contact and verify what equipment they have that’s available for use. Also, confirm what kitchen items will be provided, if any, such as utensils, napkins, plates and mugs.

What is the cancellation policy?  What if someone gets sick or there is a weather-related issue? Do you get your deposit back? Can you re-book? Ask for clear details on how long you have to cancel and the policies for emergency cancellations before you book.

Who do you call if you have an emergency? We accidently got locked out of one of our rentals. Luckily, we were able to quickly get back in, but I realized later, I would not have known who to call if there was an emergency. (The owner of our condo was out of the country). Find out in advance who to call if something breaks down.

What do former renters have to say about their stay? Read the reviews. People are NOT shy about telling others what they think of their experience. They will tell you about whether the pictures do not match what the rental actually looks like, the cleanliness of the property, noisy neighbors, slow response time, and basically everything else you need to know to make the most informed decision. I particularly look for comments from parents such as concerns about the property not being child-friendly or having nearby parks.

Vacation rental properties by owner can be a fun way to save money. Do your homework though. Taking the time to thoroughly review them will go a long way into making your vacation as peaceful as possible.

 

 

How to Save Money On Your Travel Bookings

February 11, 2016

A couple of weeks ago, I wrote about ways to reduce “fixed” expenses to free up money for goals like paying down debt or saving for a home purchase or retirement. But of course, it’s generally easier to reduce discretionary expenses that we have more control over like eating out and travel. The challenge is doing that without feeling like we’re depriving ourselves. Continue reading “How to Save Money On Your Travel Bookings”

Nomads Don’t Have To Be Hobos

December 18, 2015

For some reason that I can’t quite figure out, I’ve been getting a bit contemplative about my future lately. Maybe it’s because my daughter is about to turn 20 and she’s been reminding me that I’m very old and falling apart so I should think about my future while I am still lucid. Letting my mind wander a bit to what my life could look like when my youngest goes away to college and I’m officially an empty-nester (unless they move back in!), I realized that I have a lot of options on the table. For my job, all I really need is a telephone, a good Wi-Fi signal and an airport. Those three things are available virtually anywhere on the planet. Continue reading “Nomads Don’t Have To Be Hobos”

Bite the Travel Bug Back

September 15, 2015

 

I love to travel. Big trips are great, of course, but I’ve come to appreciate weekend getaways just as much. Earlier this year, I was browsing Groupon and found a hotel deal for $49/weekend night in Las Vegas. Considering Vegas is one of my favorite cities, I couldn’t pass it up.

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Money Saving Tips I Learned As a Frequent Traveler

August 12, 2015

As a senior resident financial planner for Financial Finesse, my job requires me to travel from time to time. As you can imagine, there are several perks to business travel. For starters, you sometimes get to go to exotic places like Parker Dam, CA, Newcastle, WY, or Elko, NV and then there are the luxurious accommodations like the Budget Host Inn & Suites in Memphis, TN or the Rime Garden Inn & Suites in Birmingham, AL or a personal favorite of our planner team, the Hacienda Hotel in our very own El Segundo, CA. All kidding aside, it is fun to travel every once in a while, and you do pick up a travel tip or two along the way. Here are a few of my favorite tips to help the less-than-frequent travelers among you: Continue reading “Money Saving Tips I Learned As a Frequent Traveler”

How Not To Go Broke On Vacation

August 11, 2015

Okay, I will admit it. I am cheap. I hate spending money unnecessarily so when my family asked about a family vacation this year, I asked them if being together wasn’t enough. Apparently everyone, including my husband (traitor), wanted to go away for vacation so I immediately had to strategize on how to do this on a budget. Continue reading “How Not To Go Broke On Vacation”

5 Tips For a Debt-Free Honeymoon

April 07, 2015

Spring is an awesome time of the year. You can finally climb out of the 5 layers of clothes you wore during the winter and actually see more than the eyes of the people around you. This is also prime wedding planning time. One of our resident financial planners, Kelley Long, recently got married and shared her story of how to make sure a honeymoon does not follow you two years later in credit card bills: Continue reading “5 Tips For a Debt-Free Honeymoon”

We’re Not Gonna Take It Anymore! (Part 1)

August 13, 2014

One thing my daughter and I share in common is our affinity for 80’s rock music. From Def Leppard to Duran Duran, she loves the classics and one of her all-time favorite 80’s songs is Twisted Sister’s We’re Not Gonna Take It.  This song—an anthem for my generation—has inspired my attitude about many things, including money. In our current culture, we are conditioned to accept the financial policies of businesses without question but since when were we here to serve businesses instead of businesses serving us?  There’s a lot of competition out there for our money so when it comes to silly financial policies, maybe it’s time we STOP taking it! Continue reading “We’re Not Gonna Take It Anymore! (Part 1)”

Would You Rent a Stranger’s Bedroom on Vacation?

August 07, 2014

Have any remaining travel plans before the end of the summer? You may have noticed that with gas prices and airfare on the rise, travel can be quite expensive. I’ve written previously about using ride sharing services like Uber or Lyft to save on short distance trips but the same sharing concept can be applied to longer, overnight trips with services like Airbnb. Continue reading “Would You Rent a Stranger’s Bedroom on Vacation?”

Getting the Best Value for Foreign Currency Exchange

August 05, 2014

As I walked through the airport a few weeks ago, the Travelex Currency Exchange booth caught my eye and gave me a great idea.  For a bon voyage for my stepson’s upcoming trip to Austria, I decided to get him some euros for pocket money so I checked out the rates. At the airport, 1 USD=0.6610 EUR but I wondered whether there might be an extra cost for the convenience of travelers getting euros at the airport.  Continue reading “Getting the Best Value for Foreign Currency Exchange”

8 Tips For Saving Money at the Airport

April 30, 2014

As many of you know, I travel a lot for work.  On one of my more recent trips, I was reminded of how expensive it can be when you are not prepared.  This summer, I will be traveling with my family across country, and that means traveling through my local international airport.  If your travel plans include a visit to your nearest international airport, consider these eight helpful money-saving tips. Continue reading “8 Tips For Saving Money at the Airport”

Make the Most of Your Miles

December 12, 2013

While making my travel plans for this holiday season, I went to use my American Airline Aadvantage miles to book a free flight home only to realize that my miles had expired! I now had to spend several hundred dollars on a flight that I could have had for free.  Needless to say, I wasn’t very thrilled with this. I contacted American Airlines and found out that I could get my miles back by either paying $200 or paying $30 and booking a roundtrip ticket with them in the next 6 months. I guess I’ll have to keep a lookout for a good flight on American. Here are some tips on using mileage points to make sure you don’t end up paying more for a flight too: Continue reading “Make the Most of Your Miles”

On The Road Again

November 05, 2013

As a financial educator, I travel quite a bit in order to provide onsite workplace financial education on a variety of topics. In fact, some months I am on the road more than I am at home. I’ve been to almost every state, even including Hawaii!  Continue reading “On The Road Again”

Are You Looking For an Adventure?

August 24, 2013

Sitting behind my office desk on many fading afternoons, I’ve often daydreamed about a grand adventure, traveling to places far away to explore areas hidden from most other people’s view. But two weeks’ vacation never seemed like enough time to do anything other than rush around and get a superficial overview of where I was going. Maybe you’ve spent similar afternoons feeling the same way. Continue reading “Are You Looking For an Adventure?”

Dude, Where’s My Card?

April 04, 2013

It was April 1st so I hoped that it was just an April Fool’s joke. I was at the grocery store checkout and reached for the credit card that I generally use for groceries but it was nowhere to be found. After paying with a different card, I called the credit card company to see when the last transaction was. Fortunately, it was at the restaurant where I had lunch that day so no one else had used it. After putting a temporary hold on my credit card, calling the restaurant and everywhere I had been afterwards and searching my home and car, I had to accept that it was gone and cancel the card. Continue reading “Dude, Where’s My Card?”

What an Accident Taught Me About Car Rental Insurance

April 19, 2012
Updated June 14, 2017

If you’ve ever had to rent a car, you know that car rental companies love to sell insurance on their cars. They’ll often ask whether you’d like just the basic coverage or additional coverage at the counter even after you’ve already declined both when making your reservation. After all, it’s one of their big profit centers. Continue reading “What an Accident Taught Me About Car Rental Insurance”

A Tale of Two “Potential” Vacations

April 18, 2012

Last week, Susan and I took the kids on a family vacation to Amelia Island, FL for spring break. The kids work hard in school so it’s nice to be able to take them some place fun when they get time off. While a trip like this can be emotionally and physically welcoming, without a little preparation, it can be financially draining. Here is how we made this trip a memorable experience without breaking the bank.

Continue reading “A Tale of Two “Potential” Vacations”