Summer Travel Tips, or "How to Make Your Dollar Travel Further"

By Katie Braun, Financial Advisor, Ameriprise Financial

Brookfield, Wis. - Summer vacations are perfect for hitting the road and finding adventure, or staying closer to home and simply recharging. The slower pace and rest provided by a vacation are priceless - just don’t relax your financial vigilance while kicking back.

These ideas can help you get the most for your money as you travel this summer:

Consider off-season tropical destinations

During the winter months, tropical hot spots command top dollar. But if you’re not averse to hot and humid weather, bargains can be found south of the Equator during the summer months. Land a package deal to a Caribbean or South American destination, and you can look forward to less-crowded beaches and hotels in paradise.

Take advantage of the stronger dollar in Europe

For the first time in over a decade, the U.S. dollar is approaching a 1:1 ratio with the euro. This means that American travelers can expect their vacation budgets to go further in the 19 countries operating on the euro currency. Airfare to Europe has also fallen, making this summer an ideal time to cross the Atlantic. If you plan to visit several countries, consider purchasing a Eurail pass to stretch your dollar across the continent. The pass allows you to travel between multiple countries by train, within a 30-day window, for one reasonable price.

Think outside the hotel room

More lodging choices are available than ever before if you’re willing to venture beyond hotels for your accommodations. Check out websites that coordinate home sharing in hundreds of countries around the world, typically at prices far below standard hotel rates. Also, consider family-run pensions (short-stay boarding houses in Europe) and bed and breakfasts (B&Bs) for cheaper and more intimate stays. If you like having a full kitchen to make your own meals - also a money-saver - look into short-term vacation home and apartment rentals.

Be flexible

If you aren’t particular about where you travel, or specifically when, you can often find last-minute deals online. These typically are packages to specific cities or attractions that include airfare, hotel and other amenities, such as a rental car or meals. Compare offers and determine which provides the best value. Also, when booking airfare, be flexible with your travel dates to improve your odds of landing a better price. Consider a midweek departure and return, to avoid paying higher weekend rates. Airlines also tend to start sales at the beginning of the week, so keep an eye out for promotions.

Traveling inevitably carries expenses, but vacations memories are irreplaceable. If you need help planning your trip, consider working with a travel agent who can provide information and tips for saving money at specific locales. Also, consider working with a financial advisor who can help you budget and work toward both your short- and long-term financial goals, including traveling, buying a home, saving for college and retiring.

Katie Braun, a Delafield resident, is a Financial Advisor with Ameriprise Financial Services, Inc. in Brookfield, Wis. She specializes in fee-based financial planning and asset management strategies and has been in practice for 16 years. To contact her, please call (262) 785-1010, visit her office at 16650 W. Bluemound Road, Suite 800, or go to http://www.ameripriseadvisors.com/katie.braun/.

Ameriprise Financial Services, Inc. Member FINRA and SIPC.

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