With the summer finally upon us, we often look forward to spending time with family and friends and enjoy the few months of warm temperatures by getting outside. Summer also often means looking forward to that great Canadian tradition of the summer family vacation.
According to a BMO survey, 83% of Canadians plan to take a vacation this summer. Summer vacations not only bring great memories, new experiences, and families and friends together, they also bring a hefty price tag that can make a serious dent in our budgets. The average Canadian going on vacation this summer is looking at spending $3,073 according to the same BMO survey. Because of the rising costs of summer vacations it is not surprising that 79% of Canadians are looking for ways to cut down on vacation expenses while still maximizing vacation experiences.
Matthew Keenan, Credit and Education Counsellor for Credit Counselling Service of Sault Ste. Marie and District, has some tips on how you can save some money this summer and still make those great vacation memories. “When looking at saving some money on your vacation this summer, it is really important to do your research. Many hotels will give you a lower room rate if you call them directly instead of using their online booking center” says Keenan. According to Keenan, “most of your vacation savings occurs in the planning process. Just heading out on the great Canadian road trip is fun, but also often more expensive than taking the time to find the best uses for your hard earned dollar.”
If you are road tripping, spending less than 24hrs in any one spot, a hotel really is a spot to lay your head. With this in mind search for cheaper hotels or motels using travel sites to help you keep costs down. If you really want to save and are not afraid of a little more adventure, try car camping along your travel route. Just remember that you often need to book these sites well in advance of your arrival.
If you plan on staying in one spot for your vacation look for hotels that offer multi-night packages such as stay 3 nights get one free. In some cities with cheap, safe, and efficient mass transit staying outside of the tourist core is a great cheaper alternative, but if the transit system isn’t all that great the cost of taxis to and from the hotel can really eat away at the room savings.
When looking at hotels be sure to see what’s included. While many hotels have free wifi there are still many that don’t. Also, in some larger cities parking your car can be upwards of $20-$50/night. Lastly, if your travels are taking you further afield many international hotels do not include a breakfast in the room rate so this should be taken into account when looking for the most economical hotel choice.
During the planning of a vacation try to brainstorm all of the attractions that you want to visit. By having a plan of what you want to see and do, you can search the internet for deals and coupons to help save on admission or food costs at attractions.
Also, some cities offer packages that help save on admission costs to a number of major attractions. “When looking at these attraction chip card it is really important that you actually want to go to the major attractions it covers. If the majority of the admission discounts are for things you don’t want to see or do then it may be cheaper to just pay the full priced admission to get in” says Keenan.
Some attractions offer lower admission prices later in the day. Many art galleries or museums will do this in the last few hours they are open, “if you only intend to see one exhibit or a few particular art pieces this is a great way to save some money off the cost of admission, and in some cases admission for children is waved during these hours.”
You may be able to save even more on attractions if you are a member of a professional organization. Keenan points out that “many members’ professional organizations like the Ontario College of Teachers can get you into places for free. A quick look at your organizations website should list all the places with waved entrance fees. In some cases, if you show your membership card or ask about professional discounts in other provinces they will be honoured, a great way to save some money that is often not used by travellers.”
“We have all heard the horror stories about huge thousand dollar cell bills when people get back from vacation. While the government is working with cell companies to put in place caps in place to prevent these outrageous bills, those are not going to be in place until December. So, you could still face a huge bill if you are not careful this summer” says Keenan.
It is important understand your cell contract and the charges associated with using text, voice, and roaming to help reduce the likelihood of facing a large cell bill. “You should contact your cell company and see what roaming deals they can offer you, some companies have long distance or data deals available for as little as $10” states Keenan.
As many digital devices like iPads and smartphones can use a wifi connection. It is smart to bring these along with you on your travels. This is because you can use free wifi areas to send emails, check out attractions, or access downloaded tickets without having to use a costly internet café.
A BMO study into the use of credit card rewards points shows that many Canadians have built up about $400 in rewards. Keenan points out that “if you have a credit card that is building points then cash them out for discounts on airfare, hotels, or even as gas gift cards if you are going on a driving vacation. These points are representing your money and yet almost a third of Canadians are not using their points to help reduce travel costs.”
“Food costs can really add up if you are eating at restaurants every day of your vacation” notes Keenan. If you are travelling by car you may be tempted to pull into the rest stop for a quick bite but if you consider buying some fruit and veggies to snack on while you drive you can help to cut down on those rest stop snacks. You can also pack lunches to eat while sightseeing to help avoid going into restaurants in the typically more expensive tourist areas of larger cities. This also cuts down on idle time waiting for your meal to arrive that could be better used sightseeing or dashing off to your next adventure.
If you don’t want to brown bag your supper, eat where the locals eat. “Locals don’t often eat along the tourist ‘strip’ so try and steer clear of those places; again look online to help find true local restaurants. Many have great portion sizes and are a fraction the cost of a tourist focused restaurant” suggests Keenan.
Shopping: “Souvenirs are a hugely important part of vacations. We all like to get those mementos of our trips but they can be very costly and can easily throw your vacation budget out of whack” warns Keenan. One way to help keep souvenir costs down is to choose a small and inexpensive collectible that you pick up on most vacations, “I have seen some people collect small things like fridge magnets when they go to a new city, state, or province. These are typically low cost and are a great way to see your adventures each time you open the fridge door. The idea is to get a souvenir that will be used, appreciated, and not just placed on a shelf forgotten about in a few months’ time.”
Souvenirs can be tricky when travelling with kids. Give your older kids power over their money choices by giving them a daily allowance. Be sure to tell them that they can use this money how they want but when it’s used up that’s it. If your child really wants to buy an item they either need to save for that item or take out a loan, meaning no allowance until the loan is paid off. This is a great way to allow your children to make safe financial decisions and grow to understand the value of their money, purchasing power, and the benefits of saving and drawbacks of borrowing to make a purchase.
Summer vacations are without a doubt expensive. They are also a great way to bring friends and family closer together. With some pre-planning and research you will be able to identify ways to cut down on your expenses and keep those savings in the bank while still building great memories.
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