How to Finance a Vacation on a Tight Budget

There are only so many staycations you can take before you get sick of hanging around the house. Many families are finding ways to finance a vacation this year, even if it means they have to take out a visa cash advance. Interest in vacations has soared and is still considered an American rite of passage for the summer. The recession’s bite on discretionary income still hurts, but families are feeling far more optimistic about their financial futures, and it’s time to take a break and enjoy life once again. Here are a few ways to finance your vacation this year.


Swap Homes


If you’re not going to be in your home anyways when you are on vacation, might as well rent it or trade it for someone else’s home who also wants to switch locations. House-sitting someone else’s house, particularly if they’re a relative, by trading locations is a good way to visit a new city without having to pay for lodging. There are also a number of websites that allow you to put your house up for a home exchange, if you want to try it with a wider community of people and places.


Double Up


Single parents or college kids want to go on vacation, too, but don’t have the financial resources of a two-income family. For them, the easiest way to finance a vacation is to double up with others in their own demographic. They can take one car and split the cost of gas. They can opt for rooms with double beds and adjoining for added security, as well as savings. Or, they can rent a vacation home together with the additional resources each person brings to the table.


Start a Vacation Fund Today


Just like you put money aside for retirement, it is a good idea to put money aside for your next vacation. You can do this every paycheck by putting $50 away in a different account that you can use either as emergency cash or to get your next vacation off the ground.