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Vacation Value

Whether you're ready to hit the slopes or the sand, you want to make sure you're getting your money's worth. This report looks at ways to trim costs when planning a vacation.

Before You Start

  • Review your budget to get an idea of how much vacation you can afford.
  • Try to be flexible when planning your vacation so that you have the option of choosing less expensive travel deals.
  • Ask family members for suggestions about vacations that won't break the bank.
  • Don't assume that you have to go far to get away. Regional road trips can be less expensive and a lot of fun, too.
1

Vacation Value

Everyone needs a vacation periodically. Breaking the routine of the workaday world is not only refreshing, but studies show it's good both for you and your ability to do a better job. Reducing job stress can lead to more productivity.

It's easy to spend a lot of money on a vacation, but that guarantees neither a good time nor vacation value. With a little planning, you can have a great time and still avoid breaking your budget.
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2

Travel Packages

Some people want to wander on their own and are willing to pay for it. But a vacation package that includes airfare, hotel, and admissions to local attractions can be very attractive.

With hotel accommodations and vacation packages, you can often save with last-minute flexibility as there are frequently great vacation values available on short notice. You may be able to get last-minute specials -- unsold seats on flights or accommodations at holiday resorts -- for a discount.
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3

Off-Season, Off-Peak, and Midweek Values

Golfers can rent luxury suites in Palm Springs, California, in the summer for less than a quarter of their winter prices. The first two weeks in December also offer prices that are almost as good. For information, call the Palm Springs Chamber of Commerce at (760) 325-1577. Packed during ski season, Aspen, Colorado, offers low-priced summer packages with activities ranging from white-water rafting to bike and Jeep tours, horseback riding, and balloon rides. Contact Stay Aspen Snowmass at (888) 649-5982 or log on to www.stayaspensnowmass.com. Make these reservations early, because good deals go fast.

And think midweek and off-peak. You'll avoid crowds and save up to 50%. The Caribbean islands are beautiful year-round, but a week's stay on St. Thomas in November or June costs considerably less than a week in February. In addition to the money saved off-season, there are fewer tourists in town, leaving more room in the duty-free shops and on the beaches. Dates for the high season vary by location, so check with your travel agent.
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4

Take Advantage of Discounts

If you're a member of a fraternal or special-interest group, you can often save 10% or more on the cost of such expenses as car rentals and hotel accommodations.

Cash in on the competition among airlines by watching out for airline advertisements urging you to take advantage of drastically reduced promotional fares. These offers may require advance purchase, allowing you time to plan a vacation around the best value offered. Also be sure to check major airline Web sites, which often offer additional discounts on advertised discount fares and have Web-only specials.

Be aware that you can be charged more if the airline fare goes up after you make your reservation. Therefore, its advisable that you pay for the tickets as soon as possible to lock in the fare.

By the way, airlines don't have to give you a refund if the fare drops after you've bought tickets, although some will do so. Keep on the lookout for lowered fares, and request a refund or credit voucher if your fare drops.
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5

Distance Can Save You Money

You don't have to be right near an attraction to enjoy it.

Skiers can save substantially on lodging by staying farther away from a mountain resort rather than within walking distance of the lifts. If you must stay on the mountain, know that midweek rates are generally lower than weekend rates. The same is true for popular vacation attractions like Disneyland: Lodging outside rather than inside the park can result in savings.

Sometimes the lower-cost approach, however, may not give you the most value. Renting a condo at a ski resort may be more expensive than staying in an off-attraction hotel, but when you balance the price against the costs of a rental car, the time spent driving, and the inconvenience -- especially if you're traveling with children -- it may be a better choice. The bottom line is that a little advance planning can go a long way in making your vacation a fun-filled -- and affordable -- experience.
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Summary

  • Plan ahead and book your travel and accommodations in advance to guarantee getting what you want when you want it.
  • Booking air travel and cruises in advance can save money.
  • Consider vacation packages that include airfare and accommodations. Flexibility can help you maximize value, as discounted packages sometimes become available on short notice.
  • Also look for last-minute specials on unsold seats on flights or rooms at resorts.
  • Off-season and off-peak times are often discounted at popular resort areas.
  • Staying a little farther away from resorts and attractions can save you money on accommodations.

Checklist

  • For extended vacations (such as spending the summer in another country) look into a "home exchange" or "home swap" with people there who would like to visit the area where you live.
  • Think about using your vacation time to volunteer in your community instead of spending a lot to indulge yourself.
  • Consider staying in hostels instead of hotels or motels. They may be less private, but they can also be much less expensive.
  • Don't carry a lot of cash. Use traveler's checks that can be replaced if lost or stolen.

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8 Comments

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  • jessicaannnnn@rocketmail.com - Thursday, July 3, 2008, 11:13PM ET  Report Abuse

    • Overall: 5/5

    I take the surveys at http://www.urlchop.com/frk858. It's a free site and they pay on time every time. Best payouts that I've found too.

  • david h - Sunday, December 16, 2007, 11:50AM ET  Report Abuse

    • Overall: 3/5

    Good review, but I thought everybody already knew this.

  • yahoofinance7 - Thursday, September 6, 2007, 5:30PM ET  Report Abuse

    • Overall: 5/5

    cool info @ test

  • easytexan2100 - Wednesday, May 2, 2007, 12:38AM ET  Report Abuse

    • Overall: 2/5

    Good as a review but it is a re-cycle of known ideas (i.e., vacation mid-week, vaction off-season, plan/book early, etc).

  • Yahoo! Finance User - Monday, March 26, 2007, 3:52PM ET  Report Abuse

    • Overall: 5/5

    Great tips for planning

Showing comments 1-5 of 8Next >>

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