After I made the decision to sell lottery payments for a lump sum and taking care of all my debt, I wanted to take my family on a well-deserved vacation. Even though I received the most cash for my lottery winnings, I wanted to be frugal and spend my money wisely. Before I packed my bags, I did some research on ways my family and I could enjoy our summer vacation without breaking the bank. I’d like to share some of the tips I learned that could help you enjoy a fun-filled “poor man’s vacation” like we did.
Be Realistic
We all want to take a magical dream vacation, but if you can’t afford it then don’t plan on taking it. Plan the vacation that you’ll be able to afford. Sit down, run the numbers, and estimate the costs of transportation, food, lodging and entertainment. The cost of your vacation shouldn’t empty your savings account, or decimate your entire lump sum.
Stay Local
With the daily routines of life, you may not get the chance to explore the city you live in. There are always hidden treasures in each city – historical societies, museums, festivals, walking tours etc. These are attractions a tourist would spend their time exploring if they came to visit your city, so take the day and live like one. Most of the local attractions offer discounted entry for locals – so take the day and explore all your city has to offer.
Stay Out of Popular Areas
Attractions and popular vacation spots raise their prices during the summer – it’s a known fact that everyone wants to get away during the summer months, so the prices skyrocket. Some vacation destinations, such as national parks or small, local water parks don’t attract big crowds of people because they are less known. These are the places that you’ll want to take advantage of since the prices will likely be lower and there will be less of a crowd to deal with.
Plan a Multi-Family Vacation
Sharing the cost of a vacation with other families or friends is one of the best ways to save money. Renting vacation homes in large groups saves money and provides memorable experiences. For example, renting a small cabin by the lake with another family could help save money on lodging, leaving more cash for food and other activities.
Take a One-Gas-Tank Trip
When planning a trip you must take in consideration transportation costs. Plan a one-gas-tank trip; this means that you’ll only use one gas of tank there and back. Since most cars nowadays will tell you how many miles you can travel before you need to fill up, plan to take a breather at a rest stop once you have made it with a half tank. This way, you won’t have to fill up as much, or be tempted to buy overpriced snacks at the convenience store.
Save on Food Costs
There are a few ways to save on food costs no matter how you are getting to your final destination. If you’re staying at a hotel, make sure that you reserve one with a small kitchen. That way, you can prepare small meals on your own—it’s a great strategy to save extra cash breakfast and lunch. You could also bring your own food. Travel with sandwiches and snacks, especially if you are traveling with small children.
Try All-Inclusive Vacations
Even if you aren’t planning on leaving the U.S., you can still check out travel agencies that offer all-inclusive vacations. Deals often include all meals, adult drinks, and other fun activities. Some places will even allow you to bundle your flight into the total price. All-inclusive vacations help save time and money.
Book Last-Minute
We have all seen the commercials that advertise discounts on last-minute travel. Taking advantage of these types of deals could save you a boatload of money. Travel sites typically advise you to book your travel 14 days in advance, but airlines and hotels are often left with unsold seats and rooms that they need to fill when there’s been a lull in travel bookings. This is your opportunity to book your vacation and save on last-minute hotel rooms and flights.
When I worked with RSL Funding to sell lottery winnings, their team assured me that they would work on getting me the largest lump sum possible. Once I received my lump sum, I was able to pay off all my credit card debt, and have money left over for a great getaway. Our “poor man’s vacation” took away our summer blues without taking away our peace of mind.
If you are looking to sell your lottery payments or have a question about selling your structured settlement, annuity or lottery winnings, give us a call at web_phone today!
– Brian D.
