In this week’s tip I am asking the question, “Did you make a budget for vacation?” This time of year, Canadians are on vacation. Our summer is so short and precious that one must take advantage. However, there is a financial aspect to this time of year. Perhaps you have to be an accountant to see the financial characteristics of summer!
Do you have a clear-cut idea of how much you want to spend while you are planning your vacation and while you are on vacation? You get bonus points for having set aside the vacation money during the other months of the year. Spending money is one of the great joys of having made money. The annual vacation is important. Even people who are focused on saving lots of money for retirement should take an annual vacation.
After all, summer is here right now and so are you. Who knows how many summers you will see in your retirement? So, do some financial planning around vacations so you can take one this summer and in the summers to come.