American Consumer Credit Counseling Offers Tips on Saving for Summer Vacation

A budget is the cornerstone of responsible financial planning. It shows exactly how much money you have and where it’s being spent.

Planning and spending money on vacation without the proper information can be so intimidating that some choose to stay at home rather than budget for a getaway. With the right research and preparation, the process is both manageable and stress-free. Perhaps mo importantly, vacationers should decide ahead of time what they can afford and prepare for the effects the trip may have in the long-term. To help consumers with the process American Consumer Credit Counseling has provided several tips on how to save for a summer getaway.

“A budget is the cornerstone of responsible financial planning. It shows exactly how much money you have and where it’s being spent,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “By creating a budget, you can find ways to save money and plan for that much needed and deserved summer vacation.”

According to the new survey from Coinstar, a leader in self-service coin counting, millennials seem to be more cash-minded than those of an older generation when it comes to credit card use to fund vacations. Sixty-eight percent of U.S. families with children who plan to go away this summer intend to use cash on hand to fund it, and 44 percent have funds already earmarked for vacation. Of the 17 percent of respondents not planning to take a vacation, budget limitations are cited as the main reason.

American Consumer Credit Counseling offers advice for potential summer vacationers:

1.    Develop a spending plan – It is important to budget before consumers immerse themselves in paradise. Consumers should be proactive in…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *