Heading out on vacation is a luxury, and many people aren't able to fulfill their dreams of exotic getaways to faraway islands or explore the world by travelling internationally. While an expensive trip may not be in the cards, a low-budget vacation can be attainable for many seeking some well-deserved time off.
These low-budget vacation ideas can be just as exciting and memorable as something far fancier at a fraction of the cost. Plan wisely and you and your family may just be vacation bound sometime this year. Bon voyage!
An all-inclusive trip, most notably offered by resorts can be a great way to vacation at a reasonable cost. You pay one price and needn't worry about extra expenses while away. All-inclusive vacations generally package together meals, soft drinks, airfare, hotel stay, etc. for one fair price, no gimmicks. Some packages even factor in entertainment, alcohol, and even tips for staff. And some give a lower price for kids, making the bundled price even more enticing.
Check out All Inclusive Outlet for amazing deals to destinations such as Mexico, Jamaica, The Bahamas, Dominican Republic, and more. Opt for family-friendly, adults-only, and other options like spas, scuba, and more. They offer flexible payment plans to fit your budget. All-inclusive means you'll be sure to stay on budget without added fees and impulse purchases.
Cruising is an enjoyable way to travel and see the open waters in many parts of the world for an economical price considering what you get for your dollar. Like the aforementioned all-inclusives, most cruises offer packages which cover most or all of your vacationing costs in one fair combined price.
Depending on the type of cruise, duration of travel, room size, and location, cruising can be relatively inexpensive while feeling fabulous. Consider these superb deals offered by CheapCruises.com. They partner with lines such as Royal Caribbean, Carnival, Celebrity, Disney Cruise Lines, and other major cruise lines, offering discounts and packages at all price points – even for the savviest traveler watching their wallet.
Plus, as per Nomadic Matt, "Cruise lines always offer incredible last-minute deals. No ship's captain wants to leave with half the cabins empty. If you wait until then, you can find some really amazing deals as cruise lines scramble to find passengers. Plus, cruise operators always throw in some on-board amenities, free upgrades, and cash vouchers to sweeten the deal. Conversely, if you book over a year in advance, cruise lines also offer amazing low fares for early birds."
Plan your travels economically as you explore the seas in a unique way. Go for something romantic, family-friendly, or something in between. Some people who cruise once vow to never vacation any other way thanks to the great prices and wonderful experiences.
3. Tour Locally
There's no need to travel far and wide to have a fulfilling vacation experience. Take a fresh look at your city or hometown and the surrounding areas. A car trip is not only a great bonding experience, but a low-cost way to explore a variety of attractions, restaurants, exhibits, parks, museums, and more that you may have been taking for granted due to their proximity.
Make it a day trip or find a place to stay for a night or two for the full vacation experience, even if it's a low-budget motel or a camping ground. Learn more about the history and new developments in your area and realize that even home can feel like a home away from home when treated as a special place to be.
Nomadic Matt suggests, "Be sure to go to your local tourism office and get a city tourism pass. These cards allow you to see a wide range of local attractions for free or reduced prices and can be your way to see your local sites on a budget."
No language barrier, no need to over pack, and no more excuses for not becoming a local expert! Are you ready to take that long-awaited budget-friendly vacation? Check out GTFO (Get the Flight Out). Their cheap airfare to various locations worldwide will make planning your travels a breeze. Peruse the site's easy-to-navigate user interface and see where the next flight will take you!
It's time to pack your bags and head out on a budget-friendly vacation! Lots of fun doesn't have to cost lots of money.
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.