Ah, the thrill of summer vacation! Where are you going this year? Perhaps to Disney World, a week at a mountain retreat, a cruise to the Caribbean or maybe just Cedar Point. Vacation presents us with a wonderful opportunity, once or twice a year, to escape the confines of our everyday lives, turn off our cell phones, ignore the e-mails and let the voice mail box fill to capacity. For many, it truly is the great escape. No wonder most of us are willing to do, or pay just about anything to ensure that we and our families have a good time. 

    The normal sense of fiscal responsibility that usually accompanies the decisions we make on a normal day, is often left behind when you go on vacation. That might explain why we don’t bat an eyelash when it comes to dropping $100 for a round of golf, $40 for a day’s admission to an amusement park, $18 for a tee shirt, or $4 for a Coke while we are away. 

    Unfortunately, the vacation price tag can easily leave you with sticker shock. A 5 day “budget” trip to Disney for a family of four could easily set you back $2,000, and if you go all out, no problem spending twice that, even more. Heading to Las Vegas, don’t forget to pack that home equity loan checkbook. 

    Vacations can be fun, relaxing and a really good way to re-charge you batteries. But vacation can also wreak major havoc on you budget. Use a credit card to pay for all the fun and you could easily spend months paying it off. Many people even take out loans to finance the fun. Ugh! 

    As our everyday world becomes more electronic and impersonal, the value we place on getting anyway and having a good time, is even get greater, and so are the financial risks. Vacations should not be followed by months of financial pain as you try to get your house back in order. Keep you plans reasonable and within the limits. As a general rule, if it takes you more than a month to pay off your vacation, you probably spent too much. 

    Remember, you don’t have to spend thousands of dollars to have a good time. Often the best vacations are the simplest, and cheapest ones. Consider a week at the lake or a camping trip to a state park.

    If you need to stay on a hotel, pick one that’s located in less expensive area a short drive away from the tourist destination. If you have a large family, choose a reasonably priced all suite chain where you can fit everyone in on unit and stock the kitchen for low cost meals. 

    To help you budget, pick up some travelers checks and keep that credit card inside your wallet. Cash a limited amount every morning and when that’s gone, stop spending. There are many things you can do to cut the cost of vacation without cutting out all of the fun. So just remember, when you are making your packing list, don’t forget to include the good judgment. 

    Joe Simpson CPA,  is a WNY based author and self-proclaimed “personal financial therapist”. If you are in need of help, Joe is available. Just send him a e-mail at JoeNYCPA@msn.comto schedule an appointment.