LOUISVILLE, KY (WAVE) - Vacation is maybe a week, retirement is rest of your life! Spending wisely is important when heading out for spring break.
WAVE Country financial professional, Lonny Powell from retirewithlonny.com shared some simple ways to save on spring break.
Save your money for the trip:
- If you're headed someplace with a different season, make sure you try on your seasonal gear. If nothing fits, try looking at thrift shops first.
- Do purchase the necessities! Items like sunscreen expire, and usually, it is more expensive to purchase at your resort than at the store.
Create a daily cash allowance:
- Figure out what you can really afford to spend and stick to it.
- A great way to stay on your budget is to only use cash.
- Try to only use credit cards for emergencies.
Consider hotel & food alternatives:
- Consider staying at a home instead of a hotel.
- Websites such as VRBO and Airbnb are great places to start. Make sure to read the reviews on the home, so you can avoid any surprises.
- If you are staying in a hotel, find one that has a complimentary breakfast. It's one fewer meal you have to eat out.
Sightsee for free:
- Just about every city has free museums or parks to visit.
- Not everything you want to see will be free, but there are several sites that offer discounts.
- Use Groupon and LivingSocial for deals or contact the local tourism group and ask about coupon books and discounts.
- Also, don't forget the rewards memberships that you might already have. If you're a Triple A member, a student, a senior, or a military member, you are sometimes eligible for discounts.
- Airlines are always offering new flight routes, which often come with introductory flight prices.
- Be flexible with flights. A minor tweak in your travel plans can help you save. For example, fly midweek instead of on the weekend.
- Sign up for a travel-related credit card.
Powell said if your choice is between going into debt or not going at all, he suggests that you don't go.
For more financial planning help go to www.retirewithlonny.com