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Battle of the Breaks: Staycation vs. Vacation

We’ve hit the halfway mark in 2018 and to celebrate making the first six months of the year our best yet-what better way to self congratulate than taking a much needed vacation…right?

Before booking flights and scoping out new cities to visit, ask yourself:

  1. If I take a vacation now, will this hinder me from reaching my current financial goals?
  2. Am I sacrificing a household need to go on vacation?
  3. Are there any upcoming expenses that I have not allocated any money toward?

If these are tough questions to answer (or accept), consider becoming a tourist in your own city. Airfare can be eliminated, which can provide a larger portion of money for an upgraded hotel, bed and breakfast or a new restaurant waiting for you to explore.

A staycation may be a better option if:

Discretionary budget is limited:

If you have a nest egg but it’s not as large as you would like, consider doing some fun outings in the city. Search local events and get creative. A staycation is intended to explore things, spaces, and experiences in your area.

Airfare is more costly than anticipated:

That flight price jumped without warning?! Don’t attempt to spend more money-to only spend even more cash when you arrive. Scrap the idea of fighting lines in the airport and focus on enjoying new experiences.

Saving additional money for a larger vacation is a priority:

Eager to have  a small refresher until your next big getaway? Take off a couple of days from work and plan your own personal, local safe haven. Not responding to work emails and stepping back from the day-to-day hustle will give you the boost of energy needed to push through.

There are many ways to make the best use of the upcoming summer season. Whether you opt for either battle of the breaks, remember there is no right or wrong answer. Having fun and enjoying life doesn’t have to push you away from your financial goals. Be honest with yourself while you’re mapping out your much needed breaks this summer. Have fun, crush your financial goals and don’t forget to bring the vacation to you.

Which battle of the breaks will you choose?

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