A Vacation Worth Taking

Vacation. A time to get away and enjoy the fun part of life.  Most of us look forward to this as a reward for our hard work.  Vacation is a good investment for a family as long as the price is right.  A good vacation must make financial sense.  Below I list come essential characteristics of a good vacation.

1) Cash Only.  It makes little sense to fund a vacation on a VISA card.  First and foremost you’ll be paying on your ‘fun’ for months after the experience is over (with interest).  Opening that credit card bill each month can leave a bitter taste in your mouth financially.  Spending cash will influence you to get the most from your experience.  I’ve heard it said that we spend up to 18% more when we buy with plastic.  Cash money is better controlled and appreciated.

2) Cost Efficient.  How far do you want your dollar to go?  Must you have the 4 star hotel?  Must you fly when it’s only a day’s drive? Must you eat out for every meal?  Compromising on your accomodations can result in lower costs and getting more for your money.  The money saved by driving just might pay your family’s way into the amusement park.  It’s wise to evaluate all options when planning your vacation.

3) Corresponds with Financial Goals.  A vacation needs to fit into your larger financial picture.  Robbing your emergency fund to fund your vacation is not a good financial choice.  Funding your emergency fund before funding your vacation is good thinking.  You need to have your priorities in proper order.    

A good vacation can be achieved in many ways.  Thinking through your options makes good sense.  A vacation is meant to be a time to retreat and enjoy the fruits of one’s labors.  Take a vacation that gives you mental relaxation.  The real mental benefit to a vacation is knowing you paid in cash!  Think and plan ahead and let this next vacation be one of your best.

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