July is coming to an end, and maybe you are sitting on the beach as you read this. I hope that you have not waited until now to plan how you are going to pay for this wonderful trip. Instead, you should use this relaxing time on the beach or drive back up the interstate to dream of what your vacation next year or in two years will be. Creating a long-term vision of the trips you dream of taking is beneficial in multiple ways. It will allow you to schedule trips that involve children or grandchildren based on when they will be the perfect age for a trip that may otherwise be miserable if they are still in diapers or operating around a school schedule. There is also financial benefit! The traditional way of vacation for most is to go on the trip, put it on the credit card, and spend the next several months paying the credit card balance. By flipping that around and incrementally stashing away funds in your high-yield savings account, you can have the amount needed for your trip while earning a return on your savings! I do this by planning the trip we want to take, pricing out the estimated cost of the trip, planning the optimal date in the future to take the trip, and dividing the cost into a monthly amount we can set aside so the trip is paid in full by the time it comes time to load the truck with all the beach toys we can fit. I hope you took the opportunity to go on a relaxing trip and make memories this summer. Whether you went this year or not, if we can help you think through and plan your future adventures for creating memories, please let us know!
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20 Second Advisor: Planning Your Next Adventure
