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Traveling Smart During the Hot, Pricey
Summer of '08
Summer is when we hope to get time off to relax. But with
regular gasoline prices nearing $4 and energy prices pushing
tourism expenses higher on everything from plane fare to meals
out, paying for this year's summer vacation might be a
significant source of financial stress.
A recent GfK Roper Reports survey indicated that 55 percent
of respondents said they are limiting "discretionary
expenses like eating out and vacations."
If that sounds like your agenda, here are some ways to save
on travel this summer:
Stay closer to home. Is it that boring around home?
Rather than flying across the country, check out the tourism
website for your state or the nearest adjoining state to yours
and just see what looks interesting. Those websites offer
coupons, too. Also, sign up for e-mail from your local transit
agencies and check their websites - you might hear about special
deals at local museums or parks and free parking sites where you
can leave your car before you pick up the train or bus.
Get smart about your travel points. If there's a
particular hotel chain you're going to stay in, see whether
they're part of a larger network where you can earn points or
other incentives toward future stays. Also, rather than multiple
credit cards, try and narrow your usage to plastic that carries
the best points plans toward hotels, airlines and car rental
agencies you use all the time for fun or business.
Go off-season. Admittedly, it's tougher with kids
since they can only travel when school's out, but if you don't
have a family, start traveling out-of-season all the time. Vegas
and Aruba might be hotter than blazes in July, but as long as
you have sun block and access to good air conditioning, then you
can take solace counting what you'll save on hotels, meals and
other expenses that dip in price when the crowds are low.
Let travel opportunities find you online. If you have
a favorite airline, resort or hotel chain, get on their mailing
lists online and be ready to react if they offer a great deal.
Look for value weeks on the calendar. For family
friendly venues, you might want to check prices on the edges of
summer when schools are still letting out or going back into
session. It's not a bad time for grownups to travel either -
you'll beat the crowds.
Check out your motor club. Major organizations like
AAA negotiate good prices on popular tourism locations around
the country, even places like Disney World. Again, even if you
don't have kids, check your motor club's offerings on hotel,
destination, rental car and even train discounts.
Merge errands into your trip. This is not just
vacation advice, but good everyday advice - if you can pack
regular errands into your vacation time in the car, do it. For
example, when returning from a trip, consider incorporating your
regular errands on the drive home (consider stopping in states
or counties with cheaper sales taxes that might save money on
similarly priced items).
Leave or return on a Monday or Tuesday. Play around
with the days of the week that you can schedule your trip just
to see if you can find significant savings on hotel and
airfares. Fighting to get home on a Saturday or Sunday can cost
you money.
Pinch those gasoline pennies. If you're driving your
own car on trips, focus on maintenance and when and where you're
buying your gas. Keep your tires inflated and make sure your
engine is in good shape for maximum fuel economy. Also, don't
carry tons of stuff - heavier cars burn more gas. Consider
joining a wholesale club that sells their own gas onsite - you
might save a considerable sum not only at home, but in
out-of-town locations where you're staying (hit the Internet and
check before you go). Also, buy gasoline mid-week when prices
generally stabilize from spikes entering the weekend and
starting the workweek. Last but not least, buy gas when daytime
temperatures are lowest. Why? Because during cool hours,
gasoline is densest and packs more fuel power.
June 2008 — This column is produced by the Financial
Planning Association, the membership organization for the
financial planning community, and is provided by Don McCarty of
Financial Decision Partners, a local member of the FPA.
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