Budgeting for vacation is a smart move

Daily expenses like food can quickly add up
Published: Jun. 30, 2022 at 10:04 AM HST|Updated: Jun. 30, 2022 at 10:05 AM HST
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InvestigateTV - A recent Forbes Advisor survey showed that 54% of Americans said costs have impacted their summer travel plans this year.

With inflation at a historical high, experts like Michael Joyce with the financial firm Agili said the worst thing you can do on a summer trip is underestimate the cost.

Joyce said you need to plan out in advance each day of your trip and estimate how much you might spend out of pocket.  

He said it’s important to think about your destinations and meals and come up with “a daily plan when you’re on vacation.”

Joyce said don’t forget to leave room for spontaneity but try to estimate what your family will spend. 

Finally, he advised using cash instead of credit cards. It can help manage spending and you won’t get the surprise of a large bill when you return home.