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Vacation
Vacation
Q. Spring Break is looming once again. We try and get away somewhere warm most years but this year, we just can’t afford a big trip. Do you have any advice on how we can make Spring Break fun without breaking the bank?
A. Spring Break has become known as a reason to escape from the dreary every-day and bask in the sun, even if it’s only for a week. However, many people are now reconsidering their expectation of going away and are instead favouring a staycation over a vacation.
Q: A friend of mine was giving me a hard time the other day. I wanted to delay my travel plans until I had saved up most of the money I needed, rather than use my line of credit to finance our vacation. His point was that since you can borrow money so cheaply on a line of credit, why not just use credit and pay it off when I get back. Whose strategy is right?
Two recent surveys have shown that almost 50% of us don’t think that we can afford a vacation this year. For those who do plan to travel, 75% don't plan on going very far. A survey recently conducted by American Express found that of those planning a vacation this year, most planned to spend around $1,000 per person (or $600 per child).
According to a recent survey, more than half of Canadians say they can’t afford to take a vacation this summer. The poll indicates that Canadians are having trouble putting money aside for holidays. We would like to offer some help by suggesting 6 ways you may be able to save some money for a vacation.
1. Set a savings goal
Q: My family usually takes a summer vacation, away from home. And while we have a lot of fun, we usually come home broke, exhausted and not ready to go back to work. I’ve heard a little about “stay-cations” and that they’re good for my budget.
