Spending time with your loved ones by going on a family vacation can be a memorable time, but if the thought of the high costs of a holiday is putting you off or causing unnecessary stress, it may be time to consider about checking out holiday spots in Canada or even better, your local town or a staycation. After all, the Canadian dollar isn’t exactly soaring and it’s safe to say our economy is not flush. You certainly aren’t the only one considering how to get the most out of a family vacation without having to put your family in a precarious debt situation.
The most important thing is planning. You will need to plan and do your homework in advance. Depending on your family's interests, you can check out the savings in advance. You will often be able to determine if there are savings to be made if you visit certain locations at specific time of the year (non-peak period) in order to avoid high demand pricing.
The second most important thing, is creating a detailed budget that is realistic and manageable for the size of your family. You will need to include funds for contingencies and for additional expenses that you might not think of. For example, you may need to purchase a new set of winter tires before heading out the mountains for your ski trip. You may also want to purchase road side assistance before heading out for a long drive. Determine how much you are willing to spend, create a budget and stick to it (sticking to it is the most important part).
Next step? Do your research. You can often reap savings if you book early (early bird specials). Check out deals online for additional savings. Instead of checking- in into traditional hotel settings, consider Air BnB or Craigslist for listing of homes with kitchens so that you can prepare most meals instead of eating out. Do your homework and read the reviews prior to booking to make sure your potential rental is being rented by a reputable owner.
A fourth cash saving tip is to stay close and stay local. Spend your vacation in Canada. You can have an almost stress free vacation by staying at local campsites or taking your children on an overnight hike in the summer. If you have family members living in a different city, you may want to trade homes in order for both family to reduce costs and save some money.
If you are worried about vacation debt, remember that you can have a great time in your own backyard. It's all about having the right attitude and spending some time doing a little bit of research to make your holiday a memorable one!
Nora Edwards is a Licenced Insolvency Trustees within our Surrey location. To learn more about how MNP Debt can help you, contact any of our local offices at:
Surrey (Fleetwood)
#11-15243 91 Ave,
Surrey, BC, V3R 9K2
T: 604.574.7216
F: 778.571.3549
Surrey
15300 Croydon Dr., Suite 200,
Surrey, BC, V3Z 0Z5
T: 604.574.7216
F: 778.571.3549
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