Going on vacation may seem like a pipe dream when you're tight on cash. However, there are steps you can take to plan affordable family vacations that won't leave you scrambling for money when you return.

Financial planning is essential for maximizing your budget and enjoying your family vacation without worry. At Alabama Title Pawns, Inc., we help you organize your finances for an unforgettable vacation with your family. Please keep reading to discover our financial planning tips for having an affordable family vacation this year. 

How To Plan Affordable Family Vacations

1. Be Flexible With Destinations

You may set your heart on a particular place, but opening your mind to different destinations can save your family some serious cash.

Keep a running list of everywhere your family wants to visit. When you see a deal, you can easily book a location that works best for you. You'll know you're ticking off a place on your loved one's bucket list while saving (potentially) hundreds of dollars. 

Regardless of where you want to go, there is always a deal somewhere. However, remember that these deals last less than 48 hours. It would be best to act fast when you see one that piques your interest.

Some people like to take the "book now, plan later" route since they can cancel flights departing from the US within 24 hours and get a full refund. This is an excellent way to take advantage of airlines' lightning deals.

2. Choose Vacation Homes/Airbnb Instead of Hotels

Traditional hotels tend to be families' go-to accommodations. However, you should skip them and choose a vacation home instead.

While Airbnb is usually cheaper than a hotel, it isn't just about price. With a vacation home, your kids have more than enough room to play and get out from under your feet, allowing the whole family to enjoy the trip. It's a win-win-win for the mind, body, and bank account!

3. Create An Itinerary

When traveling with children, energy is your biggest commodity — they can't always run at your pace. Therefore, your itinerary should allow room for flexibility. 

We recommend booking your children's favorite activities first. Use the rest of your vacation budget for bonus activities. This rule saves you money and ensures you, your partner, and your children can take advantage of everything they want to do.

Depending on your kids' ages, you should schedule just one activity per day, appointing a time for naps, snacks, and reading (if applicable).

4. Pack Smartly

Packing everything you need is an essential part of vacation-related financial planning. Although it may seem unrelated, purchasing items you forget to pack is one of the quickest ways to drain your bank account. To avoid this, write a packing list for you and your kids. That way, you'll have everything you need when the plane lands.

We suggest getting the kids involved in packing by writing smaller lists for their carry-ons (i.e., water bottles, snacks, headphones, change of clothes, sweatshirt, blanket, tablet, coloring book, etc.). It works wonders to reduce stress. 

5. Use Rewards From Your Travel Credit Card

A travel rewards credit card is one of the easiest ways to plan an affordable family vacation. These cards allow you to earn rewards on travel-related and everyday purchases. You can then redeem these rewards to lower the price of your flights, accommodation, and everything in between.

6. Never Dip Into Your Emergency Fund

Last, it would be best if you used something other than your emergency fund to pay for family vacations. Emergency funds should be used for one thing only — emergencies, which can occur at any time, including while you're supposed to be relaxing on a beach in Jamaica.

What Can You Do If A Financial Emergency Arises?

Unfortunately, life does like to throw us curve balls from time to time. If you don't have the funds to cover your crisis and return to enjoying your vacation, you can secure a loan from Alabama Title Loans, Inc.

Whether you need money for medical bills, car, or home repairs, you can get between $100 and $500 from one of our payday loans to cover the costs. To qualify, you need only provide your government-issued photo ID card, social security card, recent 30-day bank statement, most recent pay stub, and a blank check from your active checking account. You don't even need a good credit score!

Get A Loan From Alabama Title Loans, Inc. Today!

Packing smartly, using rewards, and being flexible with your destination are the main ways to plan affordable family vacations without stress. If emergencies throw you into chaos, you can get a loan from us. Just complete our simple inquiry form, and we'll contact you to discuss the process.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.