Whether you’re jet-setting to Fiji in search of azure ocean adventures or trekking to a mountain resort, an annual summer vacation can provide you and your family with some much-needed relaxation.
To experience your summer vacation to its fullest, it’s important to plan ahead and set aside savings in advance. This way, you can enjoy quality family time without financial stress getting in the way.
In this guide, we’ll navigate through three finance summer tips to help you and your family plan the vacation of your dreams.
Tip #1: Arrange Your Travel Accommodations Early
Due to surge pricing, booking last-minute flights and hotels can add to the cost of your vacation considerably. To that end, planning ahead may save you hundreds of dollars. You can often find early-bird discounts on:
- Airfare
- Rental cars
- Hotels
- Vacation rentals
- Activities
Planning your travel dates strategically can also help you save. For instance, you may want to book your trip in the off-season, as opposed to mid-summer since June and July are the peak travel months for families.
You can also travel to lesser-known destinations and book a vacation rental with a kitchen. This way, you won’t have to pay tourist prices or eat out for every meal.
Tip #2: Notify Your Bank or Credit Union Ahead of Time
If you’re traveling far from home for your summer holiday, it’s important to let your bank or credit union know ahead of time. This way, they won’t flag your holiday transactions as suspicious activity.
Oftentimes, you can notify your financial institution about your travel plans from your mobile app. If not, just give them a call.
Tip #3: Contribute to a Summer Vacation Savings Account
When it comes time to book your vacation, having money budgeted and accounted for removes the stress of high-priced items, like airfare and hotel rooms. With the right credit union, you can create a dedicated account built to finance an upcoming vacation.
For example, with North Jersey Federal Credit Union, we offer a Vacation and Holiday Club Account where members can make monthly contributions throughout the year.
These contributions will be automatically transferred to your primary savings account the first week of July. Once summer is over, you can use this account to start saving for the winter holidays. Then, your winter funds will be transferred over the first week of October.
And if you need to access your funds early, no problem! You can make early withdrawals for a small fee.
Here are some more benefits of the Vacation and Holiday Club Account:
- You can access your account online at any time
- You can increase, decrease, or skip deposits as needed
- Deposits can be made through automatic transfers, online banking, or in-person at one of our branches
NJFCU: Summer Travel Without the Headaches
When it’s time to embark on your summertime adventure, you can rest easy knowing you have the financial support for you and your family.
No more scouring Google and searching: “credit union near me.” North Jersey Federal Credit Union (NJFCU) is the best credit union in NJ, and we would love to partner with you.
As a New Jersey-based credit union that’s been serving the local community since 1936, we offer over 30,000 surcharge-free ATMs and 5,000 shared branches nationwide, and our members enjoy accessible financial services while at home or on vacation.
Forget the financial stress and soak up the sun this summer—if you’re looking for a dependable credit union, New Jersey Federal Credit Union’s Vacation and Holiday Club account is where you can start.
Sources:
Yahoo. Peak Season vs. Off-Season Travel: What Are the Differences in Cost