Travel Savings

Traveling in the summertime can be a great way to enjoy a family adventure while strengthening valuable relationships.  With some simple strategies and the right planning, you can make that summer vacation you and your family have been talking about a reality.

Planning the Family Trip
As you plan your family vacation, there are several important things to keep in mind:

Picking a Destination

When considering destinations for your summertime get away, it is important to keep in mind how long the trip will take, the method of transportation, and how each relates to your budget; however the most important thing to keep in mind is the reason for the trip.  Pick a destination where you and your family can relax, explore, and do the things you wouldn’t normally be able to do at home.  An important thing to remember is to pick a destination where your family can spend and enjoy time together on a family adventure you will remember for a long time.  Once you’ve chosen a destination, then you can plan with detail exactly how you will make your vacation possible while fitting your budget.

RoadsideAmerica.com

Travel Trends

By selecting less popular routes and travel dates, you can save both time and money as you plan your itinerary.  For example, Tuesdays, Wednesdays, and Saturday afternoons often offer the best rates on air fares because there are typically fewer people travelling. 

Flights/Airfare:

http://www.kayak.com/

http://www.bing.com/travel

http://www.airfarewatchdog.com/

http://www.whichbudget.com/

http://www.yapta.com/             

Hotels/Lodging

A savvy vacation planner should be sure to find the best deal possible when making hotel reservations.  The following are links to several popular hotel and lodging search engines you can use to find the best rate available for your vacation.

http://www.hotels.com/

http://www.priceline.com/

http://www.laterooms.com/

http://www.tripadvisor.com/

http://www.homeaway.com/

http://www.hostelz.com/

http://www.homeexchange.com/

Vacation Packages

Vacation Packages are often affordable solutions when planning a family vacation, however might not offer as much flexibility as planning your own.

http://www.cruisecompete.com/

http://www.dealbase.com/

The AAA website has a page on Travel Planning which offers a variety of valuable tips, tools, and resources to help you as you plan your itinerary.  The article 20 Secrets to Save on Travel, lists in detail a variety of important tips to keep in mind during the planning process.

Food/Dining

For tips and ways to save on food and dining during your summer vacation, see

How can you save money on food costs while traveling on vacation? - extension.org

10 Savvy Ways to Save on Travel - womansday.com

Make a Memory

Vacation is not just about getting away, it is about connecting with the important things in life.  The pace of everyday routines can allow us to take family and values for granted.  Summer is about getting back to the essence of who we are and creating memories to last a lifetime.   Think about your happiest childhood memories, weren't they when you felt loved and connected as a family?  Summertime is a great time to make these memories for your children.  Check out some of these great resources:

Fun Doesn't Have to Cost Money

Great Free Summer Computer Games

Games Adults and Children Can Play

Summertime Projects

Summertime Recipes for fun

Back to the Vacation Guide

Take the Credit Quiz

HOW MUCH DO YOU KNOW ABOUT YOUR CREDIT SCORE? 

Do you know who looks at your credit score?  What are the factors that are considered in your score?  Knowing how manage your credit so that you can improve your score and get the best rates and even improve access to credit when you need it is important. 


We all know how important credit scores are to obtaining a mortgage, getting a car loan, leasing an apartment, even getting a job.  Just as important is the information contained in a credit report that reflects the way an individual manages credit.  You can find out just how savvy you are by taking a short credit quiz available at http://www.creditscorequiz.org/.  Nationwide the average score for the quiz is 78% in response to 22 questions.  See if you can beat the score and tell us your score!

Once you complete the quiz share your score with your friends on Facebook and Twitter and challenge them to beat you.  Email your score to virginiasaves@gmail.com to get a free money tree seed packet to grow your own money tree!

Money 101, the basics

April is Financial Literacy Month and a free resource is available! Money 101, the basics is a free web-based financial education designed to educate, empower and increase financial knowledge.

The eight modules cover the following subjects:

·         Employment

·         Income

·         Taxes assets

·         Credit cards

·         Debt

·         Expenses

·         Goals

The information in this course is presented as real world practical application. The in-depth assessment report includes a budget, other important financial statements and personalized items, suggestions and strategies that are relevant and specific to the financial situation.

This is a great FREE resource. Sign up today to get started!

http://www.money101thebasics.com/

Triple Crown Tax Savings for Retirement Contributions

One of the greatest missed opportunities of all time is the tax benefits offered through retirement savings.  A lot of working Americans don’t realize how many layers of benefits there are to retirement plan participation.  Just take a look at all the great things that retirement savings can do for you:

1.        Reduces your taxable income.  Participation in a traditional 401K, 403B or TSP reduces your taxable income as your contribution comes out of pre-tax dollars.  Thus your federal and state tax withholdings are reduced and your taxable income at tax time is less.  More money in your pocket right away because those tax savings go right into your pocket.

2.       Matching benefits.  Many employers match employee contributions.  That is free money that the employee adds to their retirement nest egg.  Free money that otherwise stays in the bosses pocket.    Now who do you think can use it more?

3.       Saver’s Credit.  If you make contributions to an IRA or an employer retirement plan (including Roth contributions) and your income is less than $27,750 ($41,625 head of household or $55,500 married filing joint) you may be eligible for the savers credit which can be as much at 50% of your contributions! 

With so many ways to save on your taxes while you are building your nest egg for the future, there is no reason not to ramp up your savings.  For more great savings ideas and some more reasons to contribute to that retirement fund check out our retirement section at  http://virginiasaves.blogspot.com/