While studies show that vacationing is good for your health, going into debt is not. Typically, warmer weather brings with it the urge to travel and see new sights. And yet, a recent survey found that less than half of the people in the United States are planning on traveling this year—and of the people who are traveling, 29% are planning to take on debt to make their vacation happen.
Vacations can boost mental health by reducing stress and even improving heart health. But if you're coming home to credit card bills and financial anxiety, those benefits may quickly disappear. To combat vacation debt, here are some ways to get a much-needed break without depleting your wallet.
Hit the Road
Instead of spendings hundreds or thousands of dollars on airfare, gas, or charge up the car and hit the road. Road trips provide scenic views, fun song mixes to sing along to, and a chance to explore.
Pack Smarter
If you do decide to fly, checking luggage can boost the price. To avoid this, pack lightly in a carry-on bag. You may want to plan on doing laundry at some point, but a lighter bag makes it easier to maneuver through airports and on public transit, which is cheaper than using a car service.
Book Lodging With a Kitchen
Eating the local food is often an exciting part of a trip. But dining out can get expensive fast. Keep your meal splurges to once a day or even just a couple of times during your trip, and hit the local grocery store. You’ll still be able to sample the local cuisine, but without the premium prices you’d pay eating out.
Find Free Activities
Look for free museums, local festivals, hiking trails, or scenic walks. Many cities also offer free tours, community events, or outdoor performances during the summer.
Take a Staycation
If travel isn’t in the cards this year, take some time off at home. Unplug from work, spend time with friends and family, and explore local attractions you may usually take for granted.
Take Advantage of Travel Rewards and Points
Frequent flyer miles, hotel loyalty programs, or credit card rewards can all help offset travel expenses.
Prioritize Paying Off Debt
If you stay on budget while traveling, you can use the leftover funds to pay down debt, alleviating financial stress. Staying within your means ensures the positive impact of your travels isn’t negated by debt as soon as you return.