Summer is the season of sunshine, adventure, and for many—vacation. But while travel can recharge your spirit, it shouldn’t drain your wallet. At Colorado Wealth Group, we believe that with a little planning and creativity, you can make memorable summer experiences while keeping your financial goals intact.
Here are our top tips for staying within your budget while enjoying your summer travel:
1. Set a Realistic Travel Budget First
Before you start booking flights or browsing resorts, determine how much you can realistically spend. Include every major and minor expense—transportation, accommodation, meals, activities, tips, and even souvenirs. Having a set number gives you a clear roadmap and helps curb impulse spending.
2. Be Flexible with Dates and Destinations
Prices can vary drastically depending on when and where you travel. Use flexible date search tools on travel sites to find the cheapest travel days. Also, consider less-popular destinations. A charming small town or national park may offer a more affordable and equally enjoyable experience compared to high-traffic tourist spots.
3. Use Rewards and Travel Points
If you’ve been racking up credit card or travel loyalty points, summer is a great time to cash them in. Flights, hotels, and even car rentals can be offset using points or miles. Just be sure you’re not overspending just to earn more rewards.
4. Book in Advance—But Not Too Far Ahead
Airfare and hotel rates typically rise the closer you get to your travel date, but booking too early can also mean missing out on deals. Aim for the sweet spot: around 6–8 weeks in advance for domestic trips and 2–4 months for international ones.
5. Pack Smart and Avoid Hidden Costs
Airlines now charge for everything from checked bags to seat selections. Avoid surprise fees by packing light, bringing refillable water bottles, snacks, and even basic first-aid supplies. These little savings add up quickly over the course of a trip.
6. Opt for Budget Accommodations
Consider alternatives to hotels such as short-term rentals, hostels, or even house swaps. Many of these offer kitchen access, which can save you a significant amount on dining out.
7. Eat Like a Local
Instead of pricey tourist restaurants, eat where locals eat. Food trucks, farmers markets, and small family-owned eateries offer authentic cuisine at a fraction of the cost. Better yet, cook some meals yourself if your lodging allows.
8. Prioritize Free or Low-Cost Activities
Nature hikes, free walking tours, public museums, local festivals, and beach days are often the highlights of a trip—and many don’t cost a thing. Do a little research to uncover these gems before you arrive.
9. Track Your Spending Daily
Use a budgeting app or keep a simple spreadsheet to monitor expenses in real-time. This helps you stay accountable and adjust your spending on the fly if needed.
10. Plan with Your Financial Goals in Mind
Vacations are important for your mental and emotional health—but they should be part of your broader financial picture. If you’re saving for a home, retirement, or paying down debt, a smartly planned vacation lets you recharge without sacrificing progress on your goals.
Travel doesn’t have to mean financial strain. With thoughtful budgeting and savvy choices, you can enjoy everything summer has to offer—without derailing your long-term financial plans. At Colorado Wealth Group, we’re here to help you align your financial decisions with the life you want to live—including the fun parts.
Need help planning your budget—travel or otherwise? Let’s talk.
