Those who put in plus-40-hour workweeks certainly deserve their time off, even if their paychecks do not allow for a luxury vacation. Since most homeowner’s know that their mortgage represents the largest financial commitment they have made in their lifetime, a staycation will help them get their money’s worth.

Since a vacation for a family of four can cost thousands of dollars and can by anything but relaxing, more families are opting to stay at home. Here are some tips that can make a staycation your best holiday ever:

  • Set a Budget: Just because you are staying at home does not mean that you should spend every penny possible on entertainment. Picking a number and sticking to it will make your break both enjoyable and easy on your wallet
  • Disconnect: Getting into vacation mode is part of the staycation experience and logging out of technology can help. Make sure to put a vacation message on your email account, tell everyone you will be out of town for a week and enjoy your freedom.
  • Make a List: One summer, a New York couple on a tight budget planned their staycation around every NYC they wanted to visit. Since they did not need to pay for any hotels they were able to enjoy fine dining experiences, peaceful boat rides in Central Park and additional perks like massages. No matter where you live you can find plenty of fun and affordable things to do right in your own back yard.
  • Flexible Hours: Early bird specials, matinee movie ticket prices and happy your cocktails are all great ways to save money while enjoying your staycation. During your time off you won’t be beholden to traditional work hours, so mix it up.
  • Stock your “Hotel”: Taking a trip and loading up on food supplies including prepared meals prior to the holiday is a must. No one wants to have to worry about groceries and food preparation on their time off. Eating as many meals at home can also free up additional funds for lavish meals out.
  • Enjoy the Great Outdoors: The National Parks system is one of the greatest attributes of our country and many are just a couple of hours away from your own back door. Sleeping under the stars in an affordable pleasure that can easily work into staycation plans.

By implementing this strategy on your next break, you will not only benefit from your time off but also reap the rewards in the form of cash savings. One great strategy for that extra cash is to apply the money towards the principal balance of your mortgage. Doing so regularly can help you complete your fiduciary responsibilities ahead of the game and will give you more discretionary income in the long run. In turn, that money can be used to get your vacation fix either in your own back yard or anywhere else in the world.

Money Saving Tip – The Perks of a Staycation

Money Saving Tip - The Perks of a Staycation