You can’t live life without vacations. It is always more fun when you have something amazing to look forward to, even if it will take a little bit of money out of your savings. Working and never taking a vacation will definitely take a toll on you in the long run, so instead take some time out for you and your family within your budget!

Weigh Your Options
It is either best to plan your vacation well in advance or book at the very last minute. Many people are unable to book at the very last minute due to work and money, but if you can it will save you a lot of money. If you are looking for just a weekend travel and are flexible, try looking for tickets the night before you are leaving, often times they are marked down a significant amount. Booking in advance will also benefit you and give you the most options. All the travel websites offer different prices you just need to take your time and search out all your options. Looking at these websites during off-peak times (say 2:00am on a Wednesday morning) is when they often post many of their deals. Although the times may be a little bit inconvenient, you may save a couple hundred dollars!

Travel Light
Nowadays airlines will charge you for anything possible that they can get away with. Luggage is one of the biggest factors that people need to take into consideration. Travel as light as you can! Some airlines are even starting to charge for any bags you check (not just the 2nd bag). Make sure to check with your airline’s website before you get to the airport. This way you will know all the rules and regulations about what luggage they allow and what they don’t. You definitely don’t want to be paying huge fees once you get to the airport because it is just money down the drain.

Exotic Vacations
Traveling overseas doesn’t always have to be extremely expensive. Although it will be more expensive than traveling a few states over, it may also be an experience that you will enjoy for the rest of your life. Our partners at MainStreet.com suggest several countries that make great travel locations for cheaper than somewhere like Europe. Some of these countries include Thailand, Cambodia, Egypt…the list goes on! Check out the full article here for more information and what the countries have to offer.

Utilize Hostels
Hostels are a great thing. Many people think that they are typically dirty and not safe (and don’t get me wrong, you may find some that aren’t great) but usually they can be a really great place to save. Hostels are much cheaper than hotels; you just have to find the right ones. Doing your research and also seeking out recommendations from people that have stayed in some will help you out a great deal. Firsthand experience from friends, family, and co-workers will be your best indicator of how safe, clean, and nice the hostel actually is. Don’t give up too easily either! Sometimes hostels offer shared rooms for cheap or you can spend a little more to have your own room. Just think, when you are on vacation how much time are you actually spending in your room anyway?

Travel to Less Tourist Driven Areas
Places like Aruba, Hawaii, and the Bahamas are more often than not driven by their tourists. When tourism is slow, these locations struggle. Make sure you are trying to go to a location that is not so geared towards the typical tourists. Usually this will cut down on your costs and make your vacation more enjoyable. Although you will always see deals and offers for places like Disney World…this does not mean it will be the cheapest vacation. Make sure you are also taking into consideration the costs that you will incur while you are on vacation as well. Places that are driven by tourism will typically hike up their prices because they know people will pay it. If you take a more low key vacation it can be really cost saving. Another thing is to travel at times when other people may not be. Don’t go away at your typical Christmas, New Years, Spring Break…instead look into off-peak times where kids are in school and people have work.

All of these suggestions depend on the type of vacation you are looking for. If you have kids then Disney World may be the best place for you to go, just try not to spend as much money in the parks and instead pack lunches and snacks. If you are a couple wishing to see the world, take into consideration some of the suggestions from MainStreet.com. All in all though, a vacation does not always have to be a drain on your wallet, it may just take a little longer to find the right deals!

Photo: Kevin Rosseel

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

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The answer to this question is that it depends! It is always tempting to purchase the insurance at the car rental desk because you would rather be safe than sorry. And also that sales person on the other side of the counter makes it seem so necessary…even it if isn’t.

When we are faced with a convincing sales-pitch, regardless of if we have done the research or not, sometimes we actually believe that we need something we don’t. Don’t let this happen to you!

Renting a car under the age of 25 is difficult to almost impossible. If you are able to rent through certain companies, the insurance that you pay for is definitely at a premium under 25. Make sure you do your research before you even look into renting a car. If you know that you will need a rental car, do the necessary pre-work so you don’t end up paying extra per day.

You have several options that you should consider when renting a car:

1. Buy the Collision Damage Waiver (CDW) through your car rental insurance – This can cost you anywhere from $5 - $20 per day (on top of what you are already paying for the rental car itself). Keep in mind however, that this may be a duplication of what you already have.

2. Check Your Own Auto Insurance – Ask your insurance policy what they offer for renting cars. However, be careful because sometimes this isn’t a complete coverage and you may want to supplement it with something offered by the rental insurance. Even if your auto insurance says that they do not cover anything with rental cars, at least you checked first and know for future rentals.

3. Check With Your Credit Cards – Often times your credit card will cover you when you put the rental car purchase on that specific card. Make sure to call your credit card ahead of time to be sure what it offers (and for how long the offer lasts) to make sure. Each credit card usually has different restrictions and these restrictions can change over time so check each time before you rent a car!

For example my mum recently found herself needing to rent a car in England for over 3 weeks. She found a loop-hole in renting using her credit card as her car insurance. One credit card would only cover her rental for about 15 days. To get around this, she decided to go back to the rental company location half way through her trip and switch it to another credit card.

4. For Business Travelers, Check What Your Company Offers – Even though it might not be your money you are spending, you can save your company money by checking how they may cover you when you rent a car. Often times companies are so used to their employees renting cars that they provide full coverage to avoid any confusion or extra charges.

If you discover that you do need to purchase from the rental car insurance because you aren’t covered otherwise, make sure to not get sucked into something you do not need. Rental companies will try to get you to sign up for anything and everything they can.

Consider each option they offer you and make sure you think you actually NEED it. If they offer you something that also protects your passengers, but you know nobody will be in your car but you…then obviously this option isn’t necessary (no matter how appealing they might make it sound). Although individually the insurance might not seem like much per day, but it definitely adds up to a considerable amount of money that could be spent elsewhere!

Photo: Álvaro Daniel González Lamarque

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Recently I started a commute that I would rather avoid Monday to Friday, but it is unavoidable until I can build up enough savings to move. What makes things more frustrating is that sometimes it can take me only 40 minutes, while other times it can take over 2.5 hours! There seems to be no in between. After doing this awful commute for only 2 weeks now, I have to feel for those who have been doing it for years!…and also needed to find a way to get me home in a better mood than I have been.

Love Your Job – I know that not everyone can choose where they work, but this is important. If you are dreading going to work every morning the commute will just be worse. If you do have a choice, do something you love! This will make all the difference. On Monday morning you will be excited to go to work, not frustrated.

CDs — Put songs on a CD that you love! Mix it up with old songs and new songs. Sing along with these songs in the car (singing at the top of your lungs helps…kind of like you might do in the shower)! Who cares who might drive by you and see you singing, believe me it will make you happy! You can’t sing your favorite songs without feeling better and taking your mind off your commute.

Books On Tape (or now usually CD) — This can really take up your time. Having a good book on tape can not only keep your interest but you will be at work before you know it. I know this might sound a little bit nerdy, but it is actually really enjoyable!

Use Public Transportation — Although not perfect, public transportation avoids the hassle of driving your car to work. It can benefit you in that you don’t stress about the traffic, you can take the time to get some needed work done, or even relax with your iPod or a good book. Who really wants to be stressed out before they even get into the office?

Find Someone To Commute With — If you have to drive to work, try to drive there with someone you live close to! Not only will this save you money on gas, but having some company and someone to talk to is really nice as well. Also, you are able to use the Carpool Lane if you are driving with another person in your car, usually making your commute a little less stop and go.

Eat Breakfast and Make Coffee — Make sure to be awake for your commute! The worst is when you are sitting in traffic and feel your eyes closing because you didn’t get enough sleep the night before. Eating breakfast will wake you up and make sure you aren’t starving before you even get to work. Making your own coffee will not only save you money at Starbucks or Dunkin’ Donuts, but having it to drink while you drive will help as well. Another thing I try to do is grab a snack for my drive home. There is nothing worse than being starving before dinner and knowing you still have another 2 hours before you even get to eat.

The afternoon commute always seems to be worse for me, but either way I know it is something I have to do each day and instead try to find ways to make the best of it. If anyone else has any ways that they make their commute go faster I would love to know!

Gas Saving Tip: I read the other day that driving with your windows open at high speeds uses more gas than having your air conditioning on. For me at least, I always thought it was the other way around, I now put my AC on while I’m on the highway instead of having the windows down.

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Travel insurance can cover everything from flight delays and cancellations to unexpected medical emergencies when you are away from home, all the way to rental car damages or lost baggage that may occur.

I was born in England, so besides my immediate family the rest of my relatives live in England. My grandparents can no longer visit us the United States because they are not able to get travel insurance. At their age, it is too risky to travel without travel insurance in case anything medically pertinent happens. The insurance companies will not give them insurance because there is an increased liklihood that something significant could happen.

At around the time of the SARS scare in 2003, my grandmother was hospitalized in Miami, Florida. Not only was she in intensive care, but because of SARS she was also in isolation. Having travel insurance saved her thousands of dollars that she would have had to otherwise pay out of her own pocket.

Travel insurance is not necessarily for everyone, but it is definitely something that everyone should consider when taking a trip.

With airline cancellations and travel delays always likely in the forecast, you want to make sure that you are covered for all of the unexpected. Although we would all like to believe that nothing unexpected is going to happen to us, there is always a possibility that something will.

According to MSNBC.com, about 67 million Americans spent $1.3 billion on travel insurance in 2006. This amount is a 20% increase from what was spent in 2004.

Traveling with a family makes cancellations and medical costs much more expensive. Sometimes, travel insurance may even have a family package that will bundle your children with you for free.

There are many companies that offer travel insurance and the policies may differ from company to company. At InsureMyTrip.com, you are able to compare different companies’ plans and costs to one another. Another thing that is offered is an overview of what all of the companies may offer you. Make sure to pay close attention to detail, because often there are things that are not covered such as trip cancellations due to a divorce.

Although the cost of travel insurance may seem like a large investment at the time, you may save a lot of money if something goes wrong with your trip. If you are making a large investment in a vacation, you should make sure that you are covered just in case. It would be a shame for you to lose all of your money just because you may not have been covered.

Travel insurance however is not for everyone. If your trip is short or does not include a long investment, sometimes the cost of insurance is not worth it. Make sure to check out all of your options and seriously consider what is right for you. Even though your credit card may have insurance that would cover an airline cancellation, it would not cover the rest of your expenses if you never made it to your destination.

Photo: Scott Liddell

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Last Minute Deals

Have you found yourself with Spring Break quickly approaching and you have yet to book your trip? Don’t start stressing out yet, just be smart. I know everyone wants to go on Spring Break, but there is really no reason to blow all of your savings on one trip! I’m going to Cozumel, Mexico this year…staying at an all inclusive hotel…and have pretty good flights — total cost = $1,078. This is a little bit more than I have spent for my past 2 trips for Spring Break, but we are also flying further (before we only went to the Bahamas).

Expect to pay more for Spring Break the further you travel and the more “spring breakers” that will be there. If it is a hot Spring Break location, obviously the prices are going to skyrocket around the time you want to travel.

Some last minute tips:

1. Priceline.com – Priceline lets you name your own price! I have never actually used Priceline, but I heard it works really well for last minute deals, you just have to keep your fingers crossed! Here is a BidOnTravel website that gives you some ways to bid on Priceline and how it works for finding cheap airfares.

2. Wednesday Morning Fares — Many of the websites such as orbitz.com or bookit.com release new and often cheap flights early on Wednesday mornings. Although this may be a weird time to look for flights, you may really benefit by finding a cheap flight. I once found a flight at 3am on a Wednesday morning that brought my trip down by $200!

3. Bookit.com – I think it this is a really great site to use! I only recently found it because I had been stuck on using Orbitz and Expedia, but we found really great deals on 4 star hotels on this website for our Spring Break this year. You need to keep searching! Things aren’t going to always pop off the page at you, but you need to search for things. It takes a little bit of time and patience, but saving money will feel great in the end.

4. Airline Websites — I know this seems a little “old school” and doesn’t let you compare prices with other airlines, but often airlines will post discounted flights on their website only. American Airlines offers a college portal for college students only and right now has a Spring Break link where you can enter to win a Spring Break round-trip tickets for two!

Just rememeber, stay patient! Something will come around. Don’t waste all of your savings, you really want to keep those for when you want to travel somewhere else…or even for when you come home from Spring Break and still have a few months left of school.

Good luck!

“So to move back here was less like manifest destiny and more like re-dating an ex girlfriend whom I didn’t really get along with in the first place.”

We all have dreams. But what happens when our dreams meet our wallets? This time of year many consider a move to warmer climates for jobs, opportunities, or dreams. Some just want a change of scenery!

My friend Rick Meyer, a talented stage actor (and not too shabby digital artist, I might add!), shares his experience moving cross-country with his girlfriend. What financial decisions had to be made? What did he learn from the experience? How do you fund your creative dreams? Find out.

Why did you and your girlfriend decide to move cross-country?

The plain and simple truth is that I brought my girlfriend to California twice. Last March she absolutely fell in love with California. She’s never lived away from her hometown and so you could say that the move here was like her own little manifest destiny. She had to make the move. I already lived here from 1993-2001 and wasn’t crazy about the cultural differences. So to move back here was less like manifest destiny and more like re-dating an ex girlfriend whom I didn’t really get along with in the first place. “Sure you run around and call me a loser but let’s try and re-connect shall we?”

What kinds of acting do you do? Do you have a “day” job?

One major attraction to moving back to California was to pursue my first and pretty much only love, acting. In California, there is more chance for TV or film work and its time I begin to explore those opportunities. In New York, as well as here when I lived in Los Angeles, I concentrated on only stage work. Because performing in front of a live audience the feedback is electric and immediate. If things go well on stage they let you know it. Of course, if things don’t go so well or when your play is a bomb, they let you know that too. Performing live is such a rush. But these days, being able to pay my heat bill is a rush. My highly glamorous day job is in insurance. So, I have heat. But if all goes well, in the near future, I will be on my dream path again. Acting with heat….and lights…..and food….

Financially-speaking, what’s been the biggest surprise resulting from your cross-country move?

Well, the cost of moving was expensive. We needed to pack up the stuff we’d acquired over the years and have it shipped across country. But, the cost of the move itself was cheap in comparison. It was about $2500 dollars. But, not getting paid for the days I wasn’t working is what hurt most financially. At the time of the move I had no vacation time in my bank so I lost income the entire time I was out of work. Then when I did begin to work, it took two more weeks to receive my first check. So, I didn’t see a paycheck for nearly two months. These are the things you need to consider when you are getting set to make a big move or life change. It makes you respect your savings account. Or lack of a savings account…

Going down the list of all of your expenditures and doing some research before you make a move really helps to cushion the blow when faced with “hidden” expenses. We failed to do the legwork and have been recovering from our lack of planning. Going to college is much more affordable in California. However, if you are new to the area, you are considered an “out of state resident” for 1 year before you can take advantage of the government programs. So being an “out of state resident” will cost you. Car registration in California is different. They impose a VLF (Vehicle License Fee) tax on your vehicle which is based on the entire value of your car. My car is only 2 years old so that set me back. Picking up a new auto insurance policy was hefty because most insurance plans require that you put down a large deposit. Gas is much more expensive here than what we were used to often approaching the $3.75 a gallon mark. Knowing these bits of info wouldn’t have prevented us from moving but we might have come better prepared.

What advice would you give other recent graduates who decide to pursue life after school in another location?

Well, it never hurts to save as much as you can. It can be hard to do, especially on a recent grad’s salary but every little bit helps. If you plan to move out of state, make a list of your monthly expenditures and to the best of your ability find out how your move will effect each bill. Will auto insurance be more expensive? What will be the going renter’s rate or Mortgage rate? What types of taxes will be imposed on me for being a new resident? How long will I be considered an out of state resident? Based on the climate, will my new state/location cost more or less in utilities? Heat? Electric? Etc. Of course, there is always the hope that a new job will offset many of these expenses. So, if you can find a job in town first you can always inquire about the reimbursement of relocation or travel expenses.

As a creative person can you recommend any good ways to minimize expenses while pursuing dreams?

I wish I could say that dreams should always be number 1 but at the end of the day you really need to make sure your ends are met. So, unfortunately for most of us that question can better be phrased “are there any good ways to minimize your dreams while you are pursuing your expenses?” With some planning and some cut backs, you can build a nest egg that will help you pursue your dreams with a stronger safety net. If you are working in a 9-5 job, probably the single most important thing you can do to save money is start a 401k plan. You don’t have to force yourself to save money because it happens automatically, most companies match amounts and the amount grows fast. Also, if I feel that money is tight, I will cut back anything that seems like a luxury as long as it doesn’t relate to something I’m passionate about. No sushi. No sports bar and beer on a Sunday. But, I’ll always have money in my pocket for a movie!

Bottom line, is it better to have money, or talent?

It’s definitely always better to have talent. We all have our own talents but if you can take that talent and apply it to your 9-5, the money will follow. Few people get to utter the words “I love my job”. And when you can utilize your talent for something you love to do and put it to work for you, I can’t imagine a richer, happier more fulfilling life.

Totally agree, Rick. Thanks for sharing your cross-country move with us. Contact us with news of your next acting gig — we’re looking forward to it! You can contact Rick through Geezeo’s NYU Group.

Moving? Keep your finances in one place here at Geezeo.

I know for all you college kids out there that spring break planning starts around this time (maybe even a little bit earlier)…but the talks about spring break started way back in September! I think Spring Break is really fun…I got with 3 of my really good girl friends every year and we always have a great time! But there has to be a budget…booking and planning Spring Break is always the worst. Looking for flights, finding all-inclusive hotels, the list goes on and on of things that need to be checked out. But saving money is always key for everyone…so here are a few tips…

BOOK EARLY – This is huge! Booking as early as possible leaves you with the best choices and usually the best rates on airfare…the closer you get to the date, the more to prices of the flights sky rocket (unless you really luck out)

ALL INCLUSIVE – Every spring break we have gone all inclusive! I mean really, nobody wants to have to worry about how much they are going to spend on lunch that day or drinks that night. So doing all inclusive takes that burden away! The prices might be a little bit more expensive to begin with, but just think…you are saving in the long-run for sure!

A LOT OF PEOPLE IN ONE ROOM – This one I have never actually done, but people do it all the time. You have to think that you aren’t going to be spending that much time in the room…sleep on the beach! You don’t need to necessarily sleep at night…or at least not sleep all that well.

BRING SOME FOOD – We always bring snacks with us! Granted, these never last the whole trip…but in between meals when you are napping/showering/drinking or whatever in your room or on the beach…its always great to have something to snack on that you didn’t have to buy at the expensive hotel gift shop.

AVOID CRUISES – Yes, there are times when you can find some great deals on cruises…but from my experience…you then have to find the flight (usually to Miami) and although food in included with your cruise, alcoholic beverages are not and this adds up a significant amount. Also, once you get off the cruise…if you want to do a excursion on any of the islands, these range from $75 - $100 and that for sure will take a hit to your bank account.

GROUP DISCOUNTS – Look online for flight discounts if you are planning on traveling with a large group of friends. I know that American Airlines does group discounts at www.aa.com/college and other airlines do as well.

RESEARCH — This is huge! You don’t want to end up somewhere miserable…and you don’t want to end up paying a lot of money and get nothing in return for it. Make sure you are booking a vacation from the right places and aren’t getting ripped off.

I know that everyone wants to go on Spring Break…but we also don’t want to be broke when we get back! Make sure to budget and set a limit for yourself so that when you come back and still have a few months left of school until summer vacation…you can still have fun on the money you have left. Make sure that everyone is on the same page and wants the same things!…you don’t want to be unhappy with how much money is being spent or the location you are going to.

Quick Stats:
Blog Name: My Open Wallet: A personal finance blog about money and life in New York.
URL: http://www.myopenwallet.net
Start date: July 6, 2005
Blog tagline: An anonymous New Yorker tells the world how much money she earns, spends, and saves.

“..about a time I met a dominatrix at a party…”