Ways to Save

For many families, finding extra cash in a tight economy to use for a family vacation is getting harder and harder. Still, there are some thrifty ways that families can use to stash away cash for a getaway. Author Susan Heller once said, “When preparing to travel, lay out all your clothes and all your money. Then, take half the clothes and twice the money.” Here are some helpful ways to assist clients with finding and saving money for vacation.

1. High-Interest Savings Account. One of the fastest ways to start saving up for a family vacation is to recommend that clients open a high-interest savings account. Banks such as ING, Capital One and many credit unions offer rates of up to 5 percent with a cash deposit — usually around $500. Clients can even set up an automatic deposit to ensure that they are saving for their summer vacay on a monthly basis.

2. Travel Registry. Travel registries are already popular among the honeymoon set, but these sites can also be lucrative ways to garner cash for a tour or a cruise or even a weekend away. Clients can register for a specific trip and, on birthdays, holidays or special events, friends and family can deposit money into their registry and even pick specific portions of the trip that they would like to “sponsor” such as activities, spa treatments, airport transfers and more.

3. Gift Cards. If a registry is not for you, save up those Visa, MasterCard and American Express gift cards. They can be used like cash and can take some of the pinch out of a travel budget when the cards are added up. (Make sure to read the fine print.)

4. Tax Refund and Bonuses. Tax season is around the corner.  Advise clients that, if they are going to receive a large return, they can use the money to make a deposit for a trip. The same goes with year-end bonuses or commissions.

5. Rewards Points. I’m not one to recommend opening up a new credit card, but getting a card that allows you to earn rewards points on airlines, dining, rental cars, hotels and more is certainly an advantage. Pooling all these points can certainly save on airfare and hotel accommodations when traveling and even earn clients some extra perks such as airport lounge access or room upgrades.

6. Coupon Books. Lots of destinations offer coupon books for entertainment and dining or purchaseable city passes that include discounts on tours and even free sightseeing. From “kids eat free” options to hop-on, hop-off bus tour deals, these books can save big bucks.

"We make plans far in advance, but we also use air miles and credit card miles to help with hotels, airline tickets and even theater tickets and dining."
— Christine Aasen, mother of two

“I look for coupons in the destination that I’m traveling to. There are lots of ways to save on everything from restaurants and movie tickets to free transportation and tours.”
— James Smith, father of two

Do you ever advise clients on planning their vacation budgets?
If they ask, I give them tips on ways that they can save. 50%
Yes, I often give my clients advice on budgeting. 35%
No, I never give advice of that nature. 15%