The beach and the mountains are calling. Will your bank account
be able to answer?
Here's what you can do to finance that much needed time
With a little planning, you can spend quality time
together without over-spending. The key is to define the essentials
of what feels like a vacation for your family, says Christyna
Lewis, who founded Bee Ventures in Houston, Texas, where she
practices what she calls compassionate financial
Lewis recommends decreasing spending on extras like
entertainment and eating out. She suggests taking a close look at
where all your money goes. Some of the
"essentials" might be easier to cut than
you think. The cable bill is a likely target for many
Manage costs by anticipating vacation necessities. "Buying
trail mix in your grocery store is much cheaper than eating out at
every stop on your road trip," says Lewis. Saving on
the little stuff allows you to splurge on something big.
Lewis cautions families not to use a vacation as an excuse
to suspend the rules and indulge every expense. The last thing you
want to do is wipe out all your good vacation mojo with painful
post-trip credit card bills.
"Learning to balance our current and future wants is a key
skill that we can learn at any age," says Lewis. Getting kids
involved in the planning process helps them understand how
financial choices today affect outcomes tomorrow.
See more of Lela's stories here.
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