Although the summer family vacation often proves to be an annual highlight, planning it can be stress inducing. With growing inflation, every excursion now comes with a hefty price tag. But the anxiety of managing money shouldn’t take away from the potential delights offered by sunny skies, road trips, sandy beaches and cool hill stations. With a few smart strategies, you can plan an unforgettable family getaway without breaking the bank.
- Start with a budget
Before you book anything, sit down and sketch out a basic budget. Factor in transportation, accommodation, food, activities and a buffer for emergencies. Add a miscellaneous tab for additional expenses as a safety net. Be realistic about how much you can spend.
- Consider Travel Insurance
Vacations are always fun and exciting, but mishaps can happen that could derail the whole trip. Always plan for unforeseen emergencies with travel insurance. South Indian Bank offers a robust travel insurance plan that’s sure to give you peace of mind during your vacation.
- Invest in a Travel Card
If you’re going overseas, it might be a good idea to check out the SIB Travel Card. Signing up is hassle-free and it’s the perfect travel companion as it supports multiple currencies, has in-built tap and pay technology for convenience and covers up to $10,000 in case of fraudulent transactions.
- Track Prices
Use travel sites and apps to track airfare and hotel rates. Set price alerts and take advantage of early bird or last-minute deals. Always compare and contrast prices across sites. If you’re booking an international flight, try looking between Monday night and Wednesday morning, which is usually considered the best time for lower flight prices and new deals.
- Pre-Book activities
Many popular attractions offer discounts for online or early bookings. Scour multiple sites for the best offers so you can check the nuisance of booking last minute off your list.
- Carry Home-Cooked Food
If you’re trying to strike a balance between having fun and not burning a hole in your wallet, you could consider carrying home cooked food. Fried food, dry snacks, pickled items have a longer shelf life and can help save a considerable amount on trips.
With thoughtful planning and a few savvy choices, your family can enjoy a magical summer vacation, full of fun, not financial regrets.
ALSO READ: How to Teach Kids About Banking and Saving This Summer
Disclaimer: The article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of The South Indian Bank Ltd. or its employees. The South Indian Bank Ltd and/or the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial/non-financial decisions based on the contents and information’s in the blog article. Please consult your financial advisor or the respective field expert before making any decisions.