It’s no secret, Canadians love to travel. Canada has a vast amount of destinations from the breath taking mountains in Whistler, British Columbia to the 400 hundred years’ worth of architectural beauty of Quebec City.
There’s no question about it, Canada is filled with countless travel destinations. As much as Canadians love to visit other provinces and cities within Canada, they enjoy travelling abroad too. The majority of Canadians enjoy traveling with the ones they love in an effort to spend some quality time. Eighty-four per cent of Canadian families with children say travelling helps to bring a family closer together according to a new survey by Choice Hotels Canada.
“Family vacations are a wonderful time to put the stress away and do something outside of your usual routine. However it is in your best interest to plan a vacation you can afford,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada.
“When you do your vacation planning on a budget you can afford, you will not have to worry paying for it, long after the fun has ended,” says Schwartz.
If you are longing to travel within Canada or abroad working with a limited budget, Consolidated Credit has some tips to help you achieve your goal:
Save for later Create a savings account dedicated for your vacations only. How much you put in your vacation fund, is up to you. You can start as small as putting $25 a week to putting $200 a month. It all depends on how much you can afford.
Count your nickels and dimes
Budget for a vacation you can realistically afford. A vacation is more than airfare and a hotel stay. You have to factor in everything else that makes it a holiday:
- How are you going to eat? (All-inclusive or do you plan to visit local restaurants instead?)
- Do you need access to a rental vehicle or bike?
- What kinds of excursions or entertainment can you afford?
- How much spending money do you need?
- Do you need to buy new clothes for your vacation?
- How many souvenirs can you afford etc.?
It’s a family thing
Eighty-eight per cent of Canadian families with children say their vacation plans are largely done with their children in mind. If this applies to you, do some research to get a bigger bang for your buck. Use travel websites to find affordable family-oriented destinations from your smart phone.
Going, going, gone
Monitor travel sites for last minute deals. If you do not have a preference for where you want to travel to, this is a good option for you. Last minute deals can save you hundreds of dollars.
If you would love to travel however your finances are showing you a red flag, it is time to get some help and seek credit counselling to help you manage your debt. You can speak to a trained credit counsellor at 1-888-294-3130 or you can go online for a free debt analysis.