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Summer travel is a major priority for a lot of people. Learn why one writer didn’t mind spending big on vacations this year.
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The average annual spending on vacations among Americans is $2,743 per trip, according to a recent study conducted by Go City. Americans also indicated they need an average of three annual vacations.
This summer, I took more trips than that, and I also spent more than that. My family went on 11 different camping trips and, while we kept costs reasonable by staying in our RV, we still spent a fortune out of our checking account going on all those vacations.
I know that I’m extremely lucky to be able to do that, as many people can’t take as many trips, both because of the cost and for practical reasons like having to be home for a job. I can do my work anywhere, so my trips were working ones. But while I recognize that I’m super privileged to manage traveling so much, I also don’t regret spending the money even for a minute. Here’s why.
I didn’t take on debt to go on vacation
One big reason why I don’t regret spending money on vacations is because I paid for the trips out of the money I saved. I worked hard and made cuts in other areas to fund my savings account and be able to afford my summer travel.
If I had gone into debt and was still stuck paying the bills for my summer travels well into fall and beyond, I would be left wishing I hadn’t taken so many trips. That’s because I would find myself with less money right now and would have to scrimp and save to pay for vacations that are long gone.
If you want to increase your travel in a way that brings you joy and not financial stress, consider what else you can eliminate from your budget that may not be as important to you. Would you be willing to drive an older used car or skip some restaurant meals out, or maybe switch to thrift store shopping instead of buying designer clothes if it meant you could hit the road on more dream trips?
I didn’t compromise other financial goals
Another reason I don’t regret going on so many vacations is that I didn’t have to compromise other financial goals to do it. I would definitely wish I’d made different choices if I had stopped contributing to retirement savings or putting money into my children’s college funds just to go RV-ing.
There’s absolutely nothing wrong with enjoying life, as long as you do it in a way that doesn’t put your future (or your loved ones’ future) in jeopardy. Take care of the necessary expenses first and then travel or do whatever you like with the money you have left over. That way, you can spend it guilt-free without regrets.
I made lasting memories with my children
Finally, the biggest and most important reason why I don’t regret spending money to go on vacation this summer is because I made amazing memories with my kids. You have 18 summers with your children, and making the most of them is one of the best things you can do with your money. If you’re a parent of young children, spending on experiences can be a lot more rewarding for both you and the kids than just buying more toys.
Now, you may have different things you’re passionate about besides travel — but the bottom line is, you can cover those expenses without regrets if you work your financial plans around them. Figure out how much money you need to do what you want with your time, then work your budget around both accomplishing that goal and taking care of your future. Cut the other things that don’t matter to you as much so you can get the very best value from your money and will be left delighted with the way you spent it.
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