The summer travel season is just around the corner—and it can be a splurge season for many people. Are you financially prepared? Think about it: even a short vacation can include air travel, car rentals, hotel stays, meals out, new clothing, souvenirs … and that’s just the short list! Summer vacation expenses quickly add up, so you’ll want to start your financial planning now.
This spring, take a close look at your finances and evaluate what type of summer travel is right for you and fits your budget. Be sure to select activities that you can afford and don’t forget to calculate their full costs (including any taxes, tips, insurance, etc.). Once you’ve identified the travel experience right for you, be sure to design a plan to help you manage your purchases. .
For example, you can use a resource like Chase Blueprint—available on Chase credit cards—which allows you to create custom plans to help you manage your spending and borrowing with the following features:
- Full Pay: Avoid paying interest on purchases in the categories you choose (like gasoline, dining and entertainment)
- Split: Pay off a large purchase faster and save money on interest (pay off your plane ticket before you even board the plane!)
- Finish It: Pay down your balance faster with a plan that fits your schedule and budget (Accomplish this goal before Labor Day!)
- Track It: See your purchase details, track spending trends, and set spending goals.
Remember—if you financially prepare for your summer travel now, you won’t have to worry about the bills after your well-deserved vacation!