Archive for Summer

705 Travel Hacks for Vacation Costs

· Monday, July 3rd, 2023

Vacationing with a prepared spending plan on hand is one of the best ways to have your fun, and your financial wellness, too. However, transportation costs can take a big bite out of a vacation budget. The good news is, there are loads of tricks and hacks you can use to bring those costs down. Here’s how to save on transportation costs while on vacation.

Book early

One of the most effective ways to save on transportation costs is to plan and book your travel arrangements in advance. By doing so, you can take advantage of early bird discounts, promotional fares and special offers. Whether you’re booking flights, train tickets or rental cars, comparing prices and booking ahead of time can significantly reduce your transportation expenses.

Travel offseason

Timing your travel during off-peak seasons can yield substantial savings on transportation costs. Popular tourist destinations often have peak and off-peak seasons based on factors such as weather, holidays and local events. By choosing to travel during less-crowded times, you can take advantage of discounted transportation services.

Take advantage of public transportation

Public transportation can be a cost-effective option when exploring a new city or country. Many destinations offer efficient and affordable public transportation systems such as buses, trains, trams and subways. Research the available public transportation options and consider purchasing daily or weekly passes for unlimited travel within the area. You’ll save loads on your transportation costs and enjoy the unique experience of rubbing shoulders with local residents.

Get moving

Think outside the box and consider exploring your vacation destination on foot or by bicycle. Getting from point A to point B outside the confines of a vehicle will give you a more immersive and intimate travel experience. Many cities have well-planned walking and cycling routes, making it convenient and enjoyable to navigate through popular areas and attractions. You can rent a bike for the duration of your stay, or opt for a daily rental when needed. You can also choose to participate in guided walking tours to save on transportation costs while staying active and getting up-close and personal with the destination.

Share rides and carpool

If you prefer the convenience of private transportation, sharing rides or carpooling can significantly reduce costs. Services like Uber and Lyft often offer shared ride options, allowing you to split the fare with other travelers who are heading in the same direction. You can also link up with fellow travelers through websites and apps dedicated to carpooling, helping to reduce expenses while meeting new people.

Use travel passes

Many destinations offer travel passes or city cards that provide discounted or free access to various modes of transportation, attractions and activities. Research and compare available travel passes at your destination to determine which best aligns with your travel plans. These passes can provide substantial savings, especially if you plan to visit multiple attractions or use public transportation frequently.

Seek out local discounts

Keep an eye out for local discounts and offers that can further reduce your transportation costs. Look for tourist information centers, visitor bureaus or websites that provide information on discounted transportation tickets, car rentals and more.

Rent smartly

If you do plan to rent a car, be sure to do it right to score the best deal. First, use an app like Hopper or Hipmunk to learn about special deals. Next, choose a smaller car for big savings. Finally, don’t ask for recommendations. The hotel concierge who shares the name of a rental place is likely getting a kickback from the company for every referral, which significantly increases your price.

Don’t let your transportation costs kill your budget! Use the tips outlined here to save big on vacation transportation costs.

Resources:
https://www.mintnotion.com/travel/10-travel-expenses-youre-forgetting-vacation-budget/
https://ordinarytraveler.com/save-money-travel-transportation
https://marketbusinessnews.com/save-on-transportation-costs-while-traveling/310060/

Categories : Budget, Money Management, Savings Hacks, Summer, Travel

4 Ways 705 FCU Can Help Fund Your Vacation!

Posted by Emily Beatmann

· Thursday, May 26th, 2022

If you’re like most Americans, as soon as you see ads announcing Memorial Day sale events, you start thinking summer. Summer means flip-flops and sandy beaches, sunscreen and baseball, fireworks and ice cream — and expensive vacations.

Perhaps you’re really needing to get away this summer, so you have the perfect vacation all planned out.

But how are you going to get around the steep price tag on your dream getaway? Do you pull out the plastic, make it happen and worry about paying your credit card bills after you return home? Do you beg a loan off family and friends, putting your most important relationships at risk? Do you live off pasta in the weeks leading up to your vacation and use the money saved on groceries to cover the cost of your trip?

You don’t have to take extreme or irresponsible measures to fund the perfect summer vacation. As a member of 705 Federal Credit Union, you have access to a variety of convenient products that can help cover the costs of your trip with minimal effort on your part.

Here are four ways 705 Federal Credit Union can send you packing for your dream summer getaway.

Vacation Savings Account

It’s easier to save up for a specific goal when you separate the funds you’re earmarking for that goal from all other savings. When you open a savings account at 705 Federal Credit Union with the express purpose of using it to accumulate funds for a summer vacation, you’ll always know exactly how much money you’ve saved up for your getaway. Plus, your money will grow, so you’ll reach your goal sooner.

You may have already started saving up for summer expenses in your regular savings account. Move that money into your summer savings account now so your vacation funds are in one easy location.

To be certain you’re socking away enough money to cover your getaway, create a vacation budget now. Realistically, how much money will you need to cover the costs of your trip? Next, determine when you’d like to go and count the number of weeks or months left until your vacation date. Work out the exact amount you’ll need to save each week or month by dividing your total vacation budget by the number of weeks or months left to go before your trip. You can trim your budget, sell some stuff you don’t use anymore or take on a side hustle to come up with the necessary savings. Finally, link your checking account and your designated vacation savings account — and set up a direct deposit — so that your summer savings can grow almost effortlessly.

Vacation Loan Special

If you think you can’t possibly save up enough money to fund your vacation in time, consider taking out a Vacation loan instead.

When you take out a Vacation loan at 705 Federal Credit Union, you’ll get the funds you need for your dream getaway. And best of all, with our affordable rates, you won’t go broke paying it back! Speak to us today to find out more about this fantastic special available May 16, 2022 – June 30, 2022.

Skip-a-Payment

If you’re desperate for a vacation in more ways than one, consider taking a break from some of your financial responsibilities this summer. 705 Federal Credit Union allows qualifying members to skip one loan payment during this expensive time of year. By choosing Skip-a-Payment, you’ll get the break you need without hurting your credit or defaulting on the loan. However, your loan or balance payment plan will extend for another month, and the interest on the skipped payment will be integrated into the principal of your loan or bill.

Skipping a payment is not recommended for members who are struggling to get on top of their finances. But, if you’re in a financially comfortable place and just need some extra breathing room this time of year, skipping one monthly payment can be a great way to help you cover the costs of your summer getaway. The credit union’s Skip-A-Payment promotion will be available June, July, or August of 2022. Contact a loan officer by calling 337-232-8450 option 3!

Vacation Club Account

Instead of panicking about summer expenses when the calendar hits June each year, why not pay a little bit toward your summer costs all year long? When you open a Vacation Club account at 705 Federal Credit Union, you’ll be spreading the cost of your summer getaway across the entire year. Each month, you’ll pay just a little bit toward funding your vacation, and when summer rolls around, you’ll have all the money you need for your vacation, without taking a huge bite out of your monthly budget or going into debt. Find out more by speaking to a 705 Federal Credit Union representative about opening a Vacation Club account to help cover the costs of summer.

Get your vacation plans off the ground by stopping by 705 Federal Credit Union today. We have a broad range of products that can turn your dream vacation into a reality!

Resources:

https://www.moneycrashers.com/save-up-fund-summer-vacation
https://www.theworkathomewoman.com/fund-your-summer-vacation/
https://www.ramseysolutions.com/saving/plan-your-vacation
https://www.investopedia.com/terms/s/skip_payment_mortgage.asp

Categories : Budget, Credit Union, Summer, Vacation