BATON ROUGE — Summer is here and with it comes sunshine, road trips, and the temptation to overspend. Whether you’re planning a luxurious getaway or just looking for affordable fun close to home, you can enjoy the season without blowing your budget.
We turned to Kim Chapman, Financial Wellness Director at Neighbors Federal Credit Union, for smart money strategies that keep your vacation stress-free.
Set Your Vacation Budget Before You Book
Before you start dreaming about resorts or flights, know exactly how much you can afford to spend. Building your plans around that number helps avoid buyer’s remorse and surprise debt once you return.
“When we think of vacation, we want to treat ourselves,” says Chapman. “But there’s still life after vacation, and you still have bills when you get back.”
Beware of ‘Buy Now, Pay Later’ Travel Temptations
Buy Now, Pay Later options might seem like a lifesaver when booking a big trip, but they can become a trap if you’re not careful.
“If the plan works and you make payments on time, it can be interest-free,” says Chapman. “But if not, you risk late fees, credit damage, and long-term debt.”
Only use BNPL if you’ve built it into your budget and have a repayment plan in place. Otherwise, it could cost you more than you bargained for.
Maximize Your Rewards Points—But Use Them Wisely
Got credit card points or travel rewards saved up? Use them to score discounts on flights, hotels, or even entire vacations.
“I fly using reward points all the time,” Chapman says. “If you already plan to buy something, it makes sense to use a credit card for points—as long as you can pay it off.”
Don’t fall into the trap of overspending just to earn points. Spending $20,000 to get a free hotel night isn’t a win if you’re stuck paying off the balance later.
Look Local for Low-Cost Adventures
Vacations don’t have to mean expensive flights or five-star hotels. There are probably hidden gems right in your own backyard.
“Sometimes we overlook great places nearby that are fun, relaxing, and family-friendly,” says Chapman. “You’re not stuck with airline costs or eating out every night.”
Explore local free attractions, nature trails, or staycations. Check your local tourism office’s website for free or low-cost family activities, and search for restaurants offering free appetizers or kid’s meals.
Re-Budget After the Vacation
Let’s say you did overspend. Now what?
“Hopefully it’s just a few extra lunches or lattes,” Chapman says. “But if you really blew your budget, you may need to cut back longer-term to get back on track.”
That might mean reducing entertainment spending or pausing on non-essentials until your finances bounce back.
How Neighbors Can Help
You can enjoy summer without the credit card hangover. Plan ahead, use smart tools, stay local when you can, and lean on your financial resources—like the team at Neighbors FCU—to help turn your vacation dreams into affordable realities.
“If I weren’t in financial planning, I’d be in vacation planning,” Chapman jokes. “At Neighbors, we help you do both.”
Neighbors Federal Credit Union offers free financial counseling to help you build a budget and a dream vacation plan that won’t leave you stressed or broke when you return.
Not sure what you need financially? Neighbors Federal Credit Union can help! Their Certified Financial Counselors will work with you to identify your goals and create a personalized plan.
Click here to start your Blueprint for Financial Success.
Editor’s Note: This article is part of a sponsored segment paid for by Neighbors Federal Credit Union.
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