Recession Vacationing: How To Have Your Cake and Eat It, Too

Vacations: Spend Vs. Save

During these rather trying times, one wonders whether the need to take a break from the rigors of your 9 to 6 outweighs the need to have money in the bank. On the one hand, you desperately need a break from your tiny cubicle. On the other hand, you just can't afford that trip to Bora this summer.

What to do? The answer to that is simple: vacation on a budget. I, for one, tend to overspend drastically when I'm on vacation. It's a new environment and when I see shiny, pretty things... BOOM! Out comes the credit card.

Discipline is important when you're dealing with family vacation budgeting, as you've got to prioritize and plan ahead about what you want to do. For one thing, if you prioritize sightseeing over shopping, you'll naturally gravitate towards tours and should budget accordingly. Ditto on other vacation activities such as sports, shopping, and sampling the local cuisine. Decide what your priorities are and budget accordingly!

Another important tip is to save up for your vacation. This seems like a no-brainer, but it's important to save up for your vacation months in advanced. That way, your weekly monetary allotments don't suffer. I've experienced blowing quite a bit of cash on one awesome weekend, then summarily having to eat cup noodles for the next month to make up for it. Trust me when I say it's not fun. ;)

Of course, when all else fails, there's always debt consolidation. When you've splurged on your dream vacation and return home to credit card bills and don't know what to do, it's probably time to seek professional help.

I attended a personal finance seminar a couple of months back and while I hope I never get into such dire straits as to need financial advice, it's nice to know that the option's there. Professionals who specialize in debt management and credit counseling provide both a guiding hand and teach you better financial habits to boot.

Still, as great as financial advice can be, I'm happy that I'm debt-free and have been for my entire adult life. Here's hoping that I can keep it that way, hehe! ;)