News & Advice

You’ve saved money. You’ve done your research. You’ve planned. You’ve made a budget. Now it’s time to kick back and relax, while also staying within your budget on summer vacation. 

Just because you made a budget for your summer vacation doesn’t mean you’ll automatically stick to it. Staying within a budget takes effort, especially when you’re surrounded by fun and exciting opportunities and places. It will take discipline and some thinking ahead to make sure that the planning you did pays off. 

If you want to have a good time on vacation without coming home to an overspent budget, follow these tips. 

PRIORITIZE EXPERIENCES 

You don’t want to look back and see that you went over budget because you had to buy an overpriced snack when you could’ve stashed a few granola bars in your purse or backpack. So that you don’t end up having to spend more money on the fly, take the time to figure out what’s most important to you. Prioritize those experiences that you can’t get at home. 

You can still make the most of your vacation while remaining within budget by mixing some free activities — lounging at the beach, going to a free museum, or simply taking a walk that has a scenic view. That way you’ll have more to spend on the adventures that will require reaching into your wallet. 

PLAN AHEAD AND SET SPENDING LIMITS 

To stay on budget, make a plan for what you can spend over the length of your trip based on what you’ve saved. Then, determine what you can spend each day. Some days might be more expensive than others depending on what you do and where you go, but you can still get an idea of what costs you’ll have by doing some research. Look up restaurants, local attractions, and activities ahead of time to form your plan. 

KEEP TRACK OF YOUR SPENDING 

Make sure you stay on budget, track what you spend. If you go over budget one day, readjust the next to spend less. When you bank with INOVA, you can easily track your spending and saving by using our mobile app. Then, you can review what you spent and use that to help plan your next trip. 

SAVE WHERE YOU CAN

There are ways you can save on a trip that requires just a little extra planning, but that won’t majorly impact your experience. Some ways to save? Don’t eat out for every meal and utilize public transportation. Local food can be a highlight of a vacation, especially for foodies, but quick snacks or eating out for every meal can very quickly add up. 

When you do dine out, look for ways to save, like by eating lunch out instead of dinner. Often, lunch prices are more affordable. Car rentals and Ubers can add up when traveling. 

Transportation is another area where being creative can help you stay on budget. 

USE A PREPAID VISA OR CASH

If you do plan to use a credit card to earn rewards, pay it off as soon as possible. Don’t think of it as a way to spend more than you have, but as a way to make the most of what you are going to spend. The way you spend money can help you save it. Our Visas even come with travel assistance.

Another way to keep yourself accountable is to carry only a specific amount of cash every day or take an INOVA Reloadable Card. Our Reloadable Card allows you to spend only the amount of money you load on it. And you can use them anywhere Visa is accepted.

BANK WITH INOVA

Need help budgeting and improving your financial health? When you bank with us at INOVA Federal, we’ll always be within reach to help you reach your goals. 

Stop in and see us at one of our convenient locations, or visit us online to learn more about becoming a member or making the most of your membership.