Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Keep Your Receipts

Keep Your Receipts - When it comes to filing, your taxes you need to make sure that all your receipts are keep in good order, just in case you happen...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Vacation Debt

Posted On: 2006-07-31
Length: 8:41

Listen to this podcast

Is vacation debt weighing you down? A three-step plan on saving for next year's getaway now, in this Fidelity Personal Finance podcast.

Step 1. Find ways to recharge this summer without breaking the bank. Step 2. Start saving for next year right now. Step 3. When you're ready for your dream vacation, continue on the cost-cutting path.

We'll review each of these steps in more detail in just a minute. But first, your income barely covers your monthly bills. You just financed a new SUV. The kids need braces, and you have $5,000 in consumer debt. But darn it, you work hard and deserve a vacation? Can you relate to this sentiment? As summer gets into full swing and your friends and co-workers rhapsodize about their upcoming cruises and road trips, it's easy to start thinking you have a right to a vacation of your own. And that, according to financial planner, Diane McCurdy, is when the temptation to whip out the credit cards starts to seem reasonable. After all, you work really hard and need a break. Besides, you can always pay it back later. Right?

In her book, How Much is Enough, balancing today's needs with tomorrow's retirement goals, McCurdy claims that our instant gratification culture makes people feel their entitled to a big summer vacation. But what if your grandmother, who lives across the country dies and you have to put that trip on the card, too? What if your heat pump breaks down and you have to replace it. What if you do finance the vacation and spend the whole two weeks stressed out about the money you're spending? Well, according to McCurdy, it's rarely a good idea to go into debt unnecessarily. And vacation is not a necessity. So should you forego your summer fun entirely? Not at all. McCurdy merely believes that vacations should never be charged. And if you can't pay cash for your dream vacation this summer, then figure out an inexpensive alternative, and postpone that lavish trip until next summer. And start saving for it right now.

How do you do that? Let's examine McCurdy's three-step plan for breaking the vacation entitlement mindset. Step 1. Find fun ways to recharge this summer without breaking the bank. In other words, be creative. Get the whole family involved in brainstorming cheap, or even free vacation ideas. You might discover that a day at the local water park is as satisfying to the kids as a week at Disney World. Some other ideas to consider, why not vacation in your hometown? If you live in a big city or within driving distance of one, there are probably lots of local tourist destinations you haven't explored. Give them a try. You might be surprised at how wonderful your own backyard really is. What about planning several long weekends, instead of taking a whole week off? Use these weekend getaways to take the kids camping, or go hiking in a local state or national park. Maybe check into a nearby bed and breakfast. Consider trading houses. If you live in the mountains and would like to visit the beach, trade houses with a seashore dweller. There are numerous websites devoted to helping you explore the wonderful world of house-swapping.

Step 2. Start saving for next year right now...

Discuss It!

assignment writing help said:

Everybody should plan for their future. This vacation debt is the best paln for those who want to go for a vacation. I really want to join this plan.

Jiofi Username change by login jiofi.local.html/index.htm said:

JioFi Router has also transformed the way of using the internet through dongle where it provided 4G LTE speed to the users. It was a completely new experience of the users, therefore, they attracted hugely. After the huge sale of JioFi Router, others companies were also compelled to launch the new dongle that could compete it.

EPFO UAN Login Procedure at unifiedportal-mem.epfindia.gov.in said:

Enter the details of your PAN or Aadhaar and submit them to receive an authorization pin. An OTP will be sent to the mobile number that is entered in the form and will have to be entered in the space provided

broadband services said:

Apply online and get rid from hassle free transactions and proocess your BSNL broadband services at your door step to get your unlimited internet and unlimited free calls day and night to any network

new services said:

The telecom operator is about the route of loading its own arsenal with appealing offerings that would pull in the clients. Additionally, while formerly BSNL was supplying FUP for the whole month, today the FUP limitations on BSNL's broadband plans have begun to be implemented on a daily basis in most of the areas.

Assignment Help said:

This Is Really Great Work. Thank You For Sharing Such A Useful Information Here In The Blog.

Accounting Project Help said:

I Genuinely Appreciated Understanding It. Sitting Tight For Some More Incredible Articles Like This From You In The Nearing Days

Assignment Help said:

I Loved The Way You Discuss The Topic Great Work Thanks For The Share.

Assignment Help said:

Amazing Article Thanks Or Sharing..

Assignment Help said:

I Must Say We Should Have An Online Discussion On This.

Harvard Case Solutions said:

Amazing Article Thanks Or Sharing..

Case Study Help said:

By Visiting This Site I Found Cool Stuff Here Keep It Up.

Case Study Writer said:

Such A Nice Post, Keep Up The Fantastic Work

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Y Shares

Y Shares These are also called institutional shares and, therefore, are highly attractive to institutional investors. The great thing about these shares is that they are pretty safe, since institutions are relatively stable, and they also do not require 12b-1 fees to be paid. The downside...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com