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Buy Like Buffett: Save Money on Your Summer Vacation

By Guest Blogger(view all posts by Mark.Riddix)
at 7:56AM Tuesday May 31, 2011
under Money Saving Tips

Summer is just around the corner with the moth of June a mere day away. You are probably already starting to plan the vacation for your family's summer plans. You might be wishing to go to an exotic island for your trip but your budget may not be able to afford it. Just because you cannot travel far does not mean that you cannot have a great vacation.

Here are a few tips to save you money on your summer travel.
Take a staycation

The number of people taking stay at home vacations over the past few years has been growing. That is because money has been tight since the recession and people are looking for ways to save cash. High gas prices do not help matters either. A staycation can save you one fuel costs and on travel. You can take the family to a local amusement park for the day or just camp out in your own backyard. The entire family will enjoy it and so will your wallet.

Fly standby

Flying does not have to be expensive if you are willing to fly at the last minute. People that are willing to fly standby or buy last minute tickets can get a sweetheart of a deal on air travel. Websites like Travelocity, Expedia, and Priceline have a number of last minute deals that are 50% cheaper than regular deals. You cannot pick your airline but you can still schedule a destination and time that works for you.

Take alternative transportation

If a plane flight seems to high for you, consider taking a trip by train. Train tickets can be incredibly affordable for trips to cities not too far from your home. You can take a trip to a nearby city and stay at a hotel for a few days. This will have the same impact as taking a vacation really far away but none of the high costs

Travel during the week

The most expensive time to travel using most forms of transportation is on the weekend. That is because so many people book tickets and hotel rooms during this time period. You can save a bundle on your vacation if you are willing to travel during the week. Tuesdays and Wednesdays are the lightest days for travel and are the time to get the best prices.

By using a few of these tips, you can manage to have a frugal and fun summer vacation.

Mark Riddix is the founder and president of New Horizons Financial Management, an independent investment advisory firm that provides personalized investing and asset management consulting. Mark is a regular contributor to Seeking Alpha and has written financial columns for Baltimore and Washington, D.C. area newspapers. Mark publishes his own financial blog, and has written the book Your Financial Playbook.