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It’s Not Too Late to Plan a Summer Family Vacation - Nerdwallet.com

Traveling as a family can get expensive, especially during the peak summer season. I was recently quoted in an article that discussed ways to plan a summer vacation on a budget. 

If you’d like to set aside a little more for your vacation, consider your spending in other areas of the budget and see if there are places to cut back slightly over the next three months,” Theresa C. Wan, certified financial planner, chartered financial analyst, and the principal of Treesa Financial Planning LLC in New Jersey, says in an email. “For example, eating out once a week instead of twice a week, buying $1 coffees instead of $4 lattes.”

For family vacations, Wan says last-minute sacrifices can function as an educational tool to help children learn how to delay gratification. They might give up ice cream tonight if it means going to Disneyland in a few months.

And remember that sometimes cheap travel comes to those who wait. This can apply to hotels as well as airfare. Wan recommends checking travel sites often for last-minute deals. She recalls one client who jumped on a deal to Vietnam for the following week. She says the family of four had a great time at an “unbeatable price.

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