Everyone in my family, except for those in my immediate family, live in England. Last week I went to visit and realized just how much travel can cost (especially with the dollar being so weak compared to the pound). Everything in England is priced the same price that you would expect to see in the U.S. in dollars, which means that if a bottle of soda is priced at £2.00 there, that is $4.00 in the U.S. (and that is buying the soda at a grocery store…NOT an amusement park)!

Just because you are on vacation or traveling for other reasons, don’t slack off on your budget. Yes, it may be a little bit harder to keep your budget and goals in mind if you are having so much fun on your travels…but you can still have fun and save a bit of money too!

Since I love to travel, I have found some of the following advice very helpful.

Some tips on how to save…so that you actually have some money to spend when you get home:

SHOPPING – Don’t. Now don’t get me wrong, I love shopping more than you can imagine…but sometimes it just gets a little bit too expensive. I know that many times the purpose of some people’s trips is to shop, then that’s fine and you have prepared yourself for what you will spend. But if your intention before you left for your trip was not to shop, I suggest limiting yourself. Make sure you are only buying things on your travels that you won’t be able to find back home; something unique or a souvenir to remind you of your trip.

CAR RENTALS – Make sure to be smart with this. If you are staying in a city your best bet is to use public transportation. Not only will you not have to pay for your car rental, but you won’t have to pay the extravagant parking fees either. If you do have to get a car rental, make sure to consider if you actually need the car rental insurance that they offer you or if you are already covered. Check out this Geezeo article for more information!

PETS – Check to see if there is anyone that would be willing to take care of your pets for you while you are away. Paying someone that you trust to come to the house and walk your dog or feed your cat will save you a lot of money since you don’t have to send them to the kennels. I know that my brother always offers to take care of his friends dog because he knows that it will save her a lot of money in the long run and it isn’t a hassle for him. Even one of your kids friends might be will to help you out for a little extra cash!

HOSTELS – I know not everywhere has hostels, but if the location that you are traveling to does, it is something that you should definitely consider. Sometimes in Europe and other locations, a hostel is almost as nice as a hotel but at half the price! I know that whenever any of my friends were traveling abroad they never stayed in hotels and always resorted to hostels instead. If you are going on a trip to see the sites, then how much time are you actually spending in your hotel room anyway?

PACK LIGHT – Nowadays, packing light is the only way to go. Flights will charge you for an extra bag AND for your bag being over 50 pounds. Check your bag if at all possible before you arrive at the airport…you don’t want to be stuck paying those extra fees just because you are a few pounds over that 50 pound mark. Also, traveling light will give you more flexibility in case you have to lug your bags around when you get to your location.

CARRY EXTRA CASH – I know this sounds like the opposite of what most people would tell you, but I have found that taking out extra cash while I am home will save me a lot of money on ATM fees when I am away (especially if you are traveling internationally). I am not saying to carry your cash on you at all times when you are on your trip, but you should bring some extra to avoid the fees and keep the extra in the safe while you are at your hotel. I know that this is definitely not everyone’s cup of tea to carry more cash, but I have found it helpful in the past.

Saving money on vacation is not always possible! And don’t let being worried about money ruin your vacation. But do be sure that you are prepared before you take the trip…you don’t want to come home and realize that you have overspent and now have to be frugal for the rest of the year.

Photo: Kevin Rosseel

Related Articles:
Four Reasons to Ditch Your Frequent Flier Card
Should You Travel Without Insurance?
Curb College Spending

Singer Rihanna spent Labor Day spending her earnings at Gucci. How did the rest of us mark the working person’s holiday?

Amber runs Geezeo’s “Money Challenge” group. She challenged the community to spend as little as possible this weekend and focus on “free fun”.

I managed to still spend quite a bit on meals out and a movie, but, here’s my list of free weekend activities. What did you do for free this weekend?

Here’s a list of free activities for the family, at Labor Day or any other time:

Amber’s group posts a lot of fun financial challenges to keep you more mindful of your spending habits.

So, how did the rest of you spend your holiday weekend? What do you do for fun with your family that costs very little? Comment here or in the Money Challenge group.

Related:

Best Bets for Fall

For young generations today, the pressure to spend is greater than ever. Not only spending on clothes and electronics, but also spending on eating out and drinks with your friends.

But the pressure to save is also there. All people hear on the news is about saving and how difficult it will be to retire if you don’t start young.

Young generations are feeling the pressure to save early while still trying to enjoy their lives and not always stress about money. Personally, I graduated college this year with NO credit card debt, something I am extremely proud of. But for many of my peers, this just isn’t the case.

I understand that starting to save for retirement ASAP is crucial; I just wish it was a little bit easier and less stressful. Here I’m sure my mum would say – “Hannah, life isn’t easy!” But honestly, with student loans, bills, rent, food, gas, and other expenses…what is there actually left to save?

The key aspect is to find a balance between saving and spending. Something that isn’t always easy to do (and often times it feels impossible). And yes, sometimes this means that you have to say “no” to going out for a night on the town or to concert.

Putting money into a 401(k) account as soon as you start a salaried job is a great idea (and a good starting point for your retirement savings). It doesn’t matter how little you put towards it at first, at least this is moving you forward. Often times employers may even match your savings up to a certain amount. However, once this money is in your 401(k), just forget about it and put it out of your mind. That way you aren’t tempted to borrow the money from this account.

MainStreet.com explains that there are things we can all try to avoid when we are trying to continue to save even when the economy is in a downturn.

Here are their top 5 things NOT to do:
1. Don’t borrow from your 401(k) unless you absolutely need the money.
2. Don’t ignore: (a) car or mortgage payments, (b) student loans, (c) credit card bills, or (d) all of the above.
3. Want to eat out or play a few rounds of golf? Okay, just don’t put it on your credit card.
4. Don’t make pricy purchases, even if there is a sale or your fancy new toy might be a cost-saver.
5. Don’t quit your job unless you have another job lined up.

For the full article (and their explanations), click here!

Believe me; I understand what it is like to be stressed about saving. Being in the young generation just out of college when the job market and economy aren’t doing so well is not the greatest, but we just have to push through it.

My advice is to take it day by day. You can think about retirement saving before you even have a job. Just make sure when you get that job that you are saving as soon as is possible for you. Don’t worry too much! It definitely won’t help the situation. Somehow we will all get through this together and retire happily ever after!

Related Articles:
5 Ways to Dig Yourself Out of Credit Card Debt
I’m 22 and Ready to Invest – Now What?
Emotional Toll of Retirement

Part of setting your budget is determining how much money you have and where it should go. And with this comes the important task of figuring out what you need verses what you want. Too many times people will set their bars really high to allow for those “extra” things that they think they need. The may put a little bit more in their food budget for those convenient snacks, or maybe a little more in the entertainment budget for those extra few drinks. But for those serious about getting out of debt, there is a lesson to be learned here. The more money you save on your wants, the more money you have to pay off your debts, and the sooner you will be debt-free.

Still trying to determine the difference? Check out what Sarah Winfrey had to say over at Wise Bread:

“But Mo-om, I want it!” How many times have you heard that in the grocery store, or the toy store, or anywhere else, for that matter? Probably more than you can count. And what do you think when you hear it? That poor parent? Or, thank God that’s not me anymore! Or, What is wrong with that child? Most of us go on our way, relieved for some reason. It’s not our kid, it’s not us, and we don’t have to deal with it.

I must admit that I am plagued with scenario every time I pass the toy section in the store with my kids. They wine and complain that they want a toy and will try to give me a valid reason for it. The answer remains the same - No. But then again, maybe I should sit back and think about my purchases, and wonder if I do the same thing. Do I try to give myself a valid reason for purchasing something just because I see it on the shelf? Keep reading:

The truth is that, as adults, there are times when we keep ourselves from throwing these sorts of tantrums by buying something we don’t need. We see an item, feel the same desperate need that child felt, and assuage our own feelings by buying the item. We have the power to do that for ourselves as adults. But these are the purchase we often feel guilty about, and one of the main ways to get rid of the guilt is to find a way to classify that purchase as something we do need. Actually, we can do this any time we regret a purchase.

So it’s time for all of us (and I include myself in this) to grow up, time to stop looking like adults on the outside but acting like children on the inside. To do this, we must learn to distinguish between what we need, what we need in certain conditions, and what we want.

Find out how to group your needs and your wants accordingly - read more of her blog here.

Also, you can share your ups and downs, ins and outs of budgeting with other users in the group It’s Time To Budget by joining in on our conversation here.

By Chelsea P. Gladden

Have you heard the ‘ol adage if you bring the kids it’s not a vacation but a trip? Recently returned from Hawaii in my 8th month of pregnancy with two little ones four and under, I can validate that statement.

Don’t get me wrong; we had a blast and got some much needed quality family bonding in that I wouldn’t trade the world for, but with lots of diapers to be changed, baths to be given and chasing around in general, it was still a lot of work.

Nonetheless, while you can’t put a price on the memories I will treasure with my family forever, you can put a price on how much more traveling with children costs. Before embarking on your journey jubilee, consider the following.

If you’re flying, children over 2 require an airline seat. While this adds a serious chunk of change, also factor in that once you land, if you’re renting a car, you can no longer get away with the economy size with two or more children and will need to fork over the cash for the next size up. Even if you think you could squeeze two car seats in or have kids who are ready for seatbelts, you’ll still need room for luggage of a family of four or more.

Naturally, you’ll be spending more money on food than when it was just the two adults. Speaking of which, if you want any adult time, trusted babysitting services while traveling tend to cost more as well.

For some elbowroom, a bigger room might be needed and some hotels will charge a per person fee adding to that final check out bill.

However, to keep costs down, there are a few short cuts that can keep family vacationing from family bankruptcy.

Even with gas prices exceedingly high, it still could work out cheaper to pick a destination that you can drive to versus fly. If you keep it in the 100-mile range, you especially will avoid gas costs, car rental and room costs to break up your drive. Working your route to include a visit to family and friends will also cut back on hotel costs and can even score you a free sitter.

If flying is still in your cards, packing light can save you a bundle. To get a family of four packed into carry-ons, consider purchasing items such as extra diapers once you land. Bring some traveling detergent so you can wash clothes and get away with packing less. Doing so will help avoid airline charges for extra luggage and the need for a bigger rental car.

So don’t be deterred from family travel because it can be done cost effectively. Just remember: it’s a trip.

For more ways to be travel savvy The Street.com recommends booking a vacation home. Check it out: here.

Don’t be greedy with your travel savings tips. Share them on It’s Time to Budget and Financially Frugal Families.

Save on Food: Tips for Eating Local Produce
By Debra Borchardt | MainStreet.com

Floods in the Midwest and fuel surcharges have pushed up food prices at the chain supermarkets so high that becoming a locavore might be the answer.

Locavores generally eat only foods from within a 100-mile radius. But you might not need to go to those extremes to save money — just shop at local farmers markets and roadside food stands. Not only are you supporting your local economy, but you also get a fresher, better-quality product.

Make a Trip to the Farmers Market

Nina Planck, an expert on farmers markets, runs the farmers market in Washington D.C. and agrees that shipping and packing are much cheaper when it comes to local foods.

“Just about everything about local and traditional food makes it relatively cheaper when fossil fuel gets expensive,” Ms. Planck says.

Most large grocery chains buy produce from wholesalers and in bulk, which traditionally has given them a low-price advantage. The farmers markets tended to be higher priced, but consumers accepted that you paid extra for better quality.

But now, that food chain has been interrupted, with less product coming from the large corporate farms of the Midwest due to destructive weather patterns. Plus, wholesalers are tacking on fuel surcharges.

Restaurants are Buying Local, Too

Agnes Devereaux of the Village Tearoom in New Paltz, N.Y., has some farmers deliver directly to her and makes trips to others. Her restaurant tries to buy as much locally as possible, and while some products are more expensive, like dairy, others are cheaper when she picks it up herself.

“I cut out the middleman. The wholesalers would just have to buy from the farm and then resale to me,” said Devereaux.

Laura Pensiero of Gigi’s Trattoria in Rhinebeck, N.Y., changes her restaurant menu every quarter according to local availability. For example, she says, “strawberries are abundant and much cheaper in June, so lots of strawberries on the menu then.”

Don’t Pass By the Roadside Stand

No matter whether you by a ton of stuff or just a bit, you can save money.

Raychel O’Shea Patino was able to buy two boxes of strawberries in a farm stand in Rochester, N.Y. for $3, when it normally costs her the same price for one box. Abby Goldstein stopped at a roadside stand in Maine and found the prices to be cheaper than in her local grocery store. Kristi Conn of Orange, Texas, said that while driving down Highway 87, she passed numerous trucks filled with vegetables and watermelons.

Some states are able to grow more variety than others, like Texas, but most states do have small farms nearby. Even New York City has access to many farms located in the Hudson Valley that provide products sold at Greenmarkets throughout the city.

By being flexible in purchasing decisions, such as buying what’s in season, a consumer can cut the food budget without cutting back on quality.

Buy a Farm Share

Another way to save is through CSAs, or community supported agriculture. A person can buy a share of a farmer’s crop for a set amount of money. Each week, they get a variety of the items the farm grows.

The consumer does accept the risk of vagaries in the crops; i.e., tomatoes may be bad one year, while the onion crop is outstanding.

Devereaux says there were only two CSAs when she moved up to New Paltz years ago, and now there are six — and they are sold out.

“Several deliver to New York City,” she pointed out.

Shares can be a family size, basic size or larger and can run roughly $450 to $500 for a basic share depending on the farm.

Be a smart shopper. Saving money on food doesn’t necessarily mean eating Ramen noodles. You can support your local farmers and cut costs.

Resources to find local foods include the National Sustainable Agriculture Information Service, Local Harvest and the Rodale Institute.

Lavish lifestyles presented in the media sell—a lot. From upscale food and drink to designer clothes to seductive toys, gadgets, and cars, few of us are 100% immune. When it comes to money many Americans think that if you “have it”, you “show it”.

In this installment of our back-to-the-basics series we discuss being frugal, or, living below your means. But first: let’s define “cheap”. Frequently, the two are confused.

The way I define “cheap” is simple: being “cheap” is being actively selfish. It’s putting your needs ahead of all else. “Being cheap” is behavior where someone tries to get a product or service “for nothing”. And, it gets ugly. Being cheap is frequently insulting and/or abusive — a one-sided “bargain”. Being “cheap” ignores the foundation of trade as equal exchange.

Being “frugal”, on the other hand, doesn’t mean driving a hard bargain. It’s living life by spending wisely. A frugal person might look for the best “bargains”. And, they might just spend less overall. But a truly frugal person never approaches a financial transaction with the goal of “putting one over” on the other party.

In short, being frugal is a great practice to put more money in the bank. Being cheap is a great way to piss people off.

So, how does frugal behavior increase your bottom line?

First, being frugal requires that you evaluate all your spending. It requires that you prioritize between wants and needs. A frugal person might “want” a new car, but instead chooses a “pre-owned” vehicle.

You think you know what comes next, right? Not so fast…

Some people will take the money “saved” by purchasing the “pre-owned” vehicle and spend it elsewhere. (Admittedly, that’s my toughest challenge!).

But truly frugal people have a greater purpose in mind. What is it? They put all of their reduced-cost savings to better use. This could be by paying down debt, saving, or investing. The point is: a frugal person not only conserves money, but, takes these incremental savings and puts them to better use.

Think of how much more productive you would be - financially speaking - if you took a lesson from frugal people. Too frequently we like to claim we “saved” money. But how many of us can point to specific dollar amounts and explain how it has been put to better use?

I’m learning to be more frugal. It’s both a mindset and a practice. But, I know the reward will be greater flexibility and greater ability to impact the causes that are important to me.

Find more discussion on frugal living by checking out Geezeo Groups.

Related:

* Articles by TheStreet.com writer Jeffrey Strain
* Open Book: How to be So Money by Farnoosh Torabi

With all the emphasis in the press these days about tightening the belt I thought it would be nice to think about life with less money. Does it always mean sacrifice?

Self-employed writer Rita Farin had these points to say. I’ve added my own comments, too. Thanks for the thoughtful writing, Rita!

* Life requires living, whether you have the money or not. It also requires a plan. If you have a plan for your new life, then you can start really living by doing what you love.

One way to start planning is to write it out. The list doesn’t have to be in any particular order. The important things is to get it all out. Some items you’ll commit to doing and others you’ll think, “that’s a cool idea but I’m not ready to commit to that, yet!”.

Even though we’re talking life goals the same could be said for your financial life. Your list could include goals like “Save 10% of my income”, “Give 10% to charity” or “Start a secondary savings fund for Goal X”. In the end you may decide that you can only commit to one of these immediately.

As they say, you must start with the end in mind.

* You have more money than you think you have. Even with a budget in place, it’s hard to know how much money you actually have until you have to spend it without bringing in any income. I had no idea until I started a business a couple of years ago and lived off of my savings. That savings lasted a lot longer than I ever thought it would. And I found pockets of money that I had forgotten about, lasting me nearly two years.

I totally agree here. I literally saved my “lunch money” for 9 months and then lived off of it for nearly the same amount. How did I do this? With a budget. Get yours here at Geezeo.

* You can easily learn to live on less. Having less money taught me how to do more for myself and become more resourceful. I used to shop retail. Now I don’t.

This is great advice because it works. There are multiple groups here at Geezeo with a living-below-my-means emphasis. Find one or more that you’d like to do (or currently do!) here.

* Not having money helps you overcome your fear of not having money. Ask yourself, what’s the worst that can happen? For me, the worst that can happen is going back to a career that I once loved and still enjoy.

This is a common fear among freelancers or the self-employed. Pursuing your life dreams shouldn’t be dictated by money. But the reality is money plays a role in that it can make it easier or harder. To gain control you have to control your money. While no one should “plan to fail”, there are always ways to get back on your feet.

* There are resources for living with no money. As long as you have good credit, you can take out loans or lines of credit. You can also research grants and other available money.

Rita makes a good point here. But I’ll add the caveat: be careful not to lean into these resources too heavily and find yourself with debt you cannot manage. Be sensible in your approach.

* Having no money is a choice and is temporary. It’s a time of investing in your future to rebuild. Transitioning to a life you love at every level brings abundance. Whenever I’ve needed money, it’s come—through opportunities that land on my doorstep.

It’s said that “broke” is a mindset. Don’t let it be yours.

* You always have something to fall back on. We have so many skills. If you’re transitioning out of a career, you can always go back if really necessary. Or you can turn that knitting hobby into a money-making endeavor.

Be flexible with what you can do and you’ll be able to do more.

* Listen to yourself and commit to your passion. Friends, family and strangers may tell you you’re crazy when you decide to make a change. “You can’t make any money doing that,” they may say. Just remember that they’re expressing their own fears, and you can in fact make money from anything you love and commit to do.

We’ve all experienced naysayers. That’s part of the reason money — and by extension, dreams — are so infrequently discussed. Rather than keep your dreams to yourself, find people who will support you and guide you. If these people aren’t in your life, look for them in any of the groups here.

Think big, take action, and believe. Money itself won’t make a life worth living. Yet, managing what you have will make your life easier and increase the chance you’ll reach whatever goals you pursue.

Good luck!

I have always heard, that in order for us, as adults, to be able to truly enjoy life, we have to make sacrifices - sometimes, to our future.

And then there is the flip side, you have to sacrifice your current life to be successful, build wealth, and be comfortable when you are older - with the possibility of retiring when you are still young enough to enjoy it!

Is there ever a balance? Can’t we do both? Of course! But that in itself is a lifestyle change.

You need to rediscover what is most important in your life, and make a new list of priorities. Most of the time, when you do, you will discover that most of those things don’t cost a lot of money. Here is some of my list: Playing with my boys - regardless of where, enjoying peaceful time reading a good book, drinking some lemonade, or taking my dog for a walk. Those things cost little to nothing for me to do.

To go along with the above, we have to remember that people are what’s most important, not things. My focus from my list above includes doing things with my kids, having time for myself, and enjoying time with my pet. If we focus too much on the things we get for ourselves or the people in our lives, then we will definitely spend a lot of money.

Splurge - only sometimes. If you can force yourself to wait for something that you don’t really need, sometimes you will realize that you no longer want the item anyways. But remember that it is okay to treat yourself some of the time.

Slow down! If you look at how fast time goes by, you will realize that you need to really determine what things are most important. For me, I’ve realized how quickly the last three years have gone by. My boys are getting older every day. And it won’t be long until the oldest is in school. I won’t be able to spend as much time with him and so I need to make sure I am setting aside time now! He won’t remember most of the toys we have bought him over the last few years. But he will remember the time we spent together. And that really is priceless!

Utilize Geezeo to help get yourself on a course that allows you to be happy and content, now and in the future! Go ahead and set some goals so you can have a plan to make it all work!

One classic personal finance book is “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko.

For anyone unfamiliar, the book covers habits and strategies of “normal” people and how these behaviors contribute to a million-dollar (or more) net worth. Everyone profiled in the book share what could be called “middle class” incomes and values. A common trait is being somewhat low-key on the exterior (no flashy millionaires here!).

Chapter Three is titled “Time, Energy, and Money”. In it the authors write:

“PAWs [Prodigious Accumulators of Wealth] allocate nearly twice the hours per month to planning their financial investments as UAW [Under Accumulators of Wealth] do.”

The book was published in 1997. I wonder what the 1997 PAWs would make of Geezeo?

One of Geezeo’s strengths is the ability to collect all your financial accounts in one place. If you monitor your accounts on a regular basis it is much easier to do so at one location (Geezeo) instead of logging into many different banking websites.

But few were probably monitoring their accounts and investments online when the book was written.

Interestingly, this chapter went on to say that UAWs [Under Accumulators of Wealth] spend more time worrying about being able to retire comfortably or ever accumulating significant wealth (pg. 71). The authors conclude they have every right to be concerned! To illustrate the point, the chapter outlines the choices between two fictional doctors — Dr. North and Dr. South. Despite high-paying professions one ends up with better financial resources.

So what does this have to do with you? Do you exhibit behaviors of a PAW?

I would guess that the Geezeo community has a greater percentage of millionaires and millionaires-in-the-making that most websites. For starters, our users monitor their accounts on a regular — even daily — basis. They save time checking multiple online accounts. But, they are likely to spend more time thinking about, and acting upon, longterm financial strategies. Couple that with the ability to discuss your strategies with peers, and, I think it’s safe to assume that being involved at Geezeo is good for your net worth.

So ask yourself today: what am I doing on a regular basis to secure my financial future? Am I using my time, energy, and resources to the best of my knowledge and ability? What goal am I actively pursuing (paying off debt, saving a cash cushion, and saving for a home are three popular goals). If you’re just starting, click here to check out some of the Geezeo community goals.

For this and other personal finance books, check out the Geezeo group “Bookworms Unite”.

Here’s to your time + your energy = your money!