(NC)—Whether your family likes to take smaller trips
each year or you're planning the trip of a lifetime, travelling with a
family can be expensive. The good news is there are several ways to make
your dream vacation a reality. Stephen Menon, associate vice president,
credit cards at TD Canada Trust provides simple tips to help you save
for your next family getaway:
• Create a budget – Knowing how much
to save starts with determining the full cost of your trip. Think about
all the costs associated with your travel, from flights and car rentals
to taxis and tips, to get an accurate idea of the total cost of your
vacation.
• Create a vacation savings plan –
Once you know how much your trip will cost, it's time to start saving.
To help you save, consider setting up an automatic transfer of a set
amount at regular intervals into a tax-free savings account. Look for
ways to cut back on other expenses and add that money to your vacation
savings. Saving even a small amount on a regular basis will add up.
• Take advantage of rewards – If you
have time before your next trip, use your travel rewards credit card to
earn rewards that can help reduce travel expenses down the road. A good
travel rewards credit card will allow you to redeem points for any
costs associated with your travel, from hotel rooms and baggage fees to
transportation and taxes. Just remember to pay the balance in full and
on time each month.
• Get the kids involved – Turning
your vacation fund into a family project is a great way to teach kids
financial responsibility. As kids are more likely to consider spending
when the money is their own, encourage your kids to save a portion of
their allowance for spending during the vacation.
www.newscanada.com
Patti Friday, Photojourno, reporting from inside 'The Art Dept.' at the international 'Embassy of Ideas'. Wasaga Beach, Ontario CANADA - The longest freshwater beach in the world!
