Summer travel plans can waylay even the most thoughtfully constructed budgets. In fact, 68% of travelers overspend on their vacations, according to a recent survey from Experian. Travelers expect to spend an average of $2,275 vacationing this summer, which many will fund with savings accounts and tax refunds. When there’s a shortfall, credit cards will make up the difference. Survey respondents are willing to charge an average of $1,308 to their credit cards to pay for summer travel. 'People want to come home from vacation with happy memories, not unmanageable credit card bills,' said Guy Abramo, president of consumer business at Experian Consumer Services. 'Racking up excessive credit card debt without a plan to pay it off can put people in a bind that could affect their financial health and credit status for years to come.' Airfare and accommodations make up the largest chunk of vacation spending, so cutting back on those expenses will have the biggest impact on your wallet. Postponing your vacation until mid-August can save up to $250 on airfare, and looking for flights that depart on a Tuesday and return on a Monday can add an extra $40 to those savings. Watch the video for more tips.
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.