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Summer vacation season is approaching, and because I’m a big believer in investing in experiences over things, I’m here to tell you to take that dream vacation — or all the dream vacations.
I see many clients struggle to enjoy their trips and be in the moment. The guilt is real, and so are the worries about paying for a beach rental, a couples’ cruise or a family excursion abroad.
You don’t have to feel uneasy. Here are nine tips for a guilt-free vacation.
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1. Have a dedicated vacation fund
This seems super obvious but not everyone earmarks a vacation fund. In addition to being a big proponent of experiences, I’m a big fan of having individual buckets for different purposes — vacations being one example.
When you intentionally set aside money for that year’s travel expenses, you know what you can afford and aren’t worrying about every meal or adventure when you’re supposed to be enjoying the moment.
2. Include travel in your financial plan
A vacation shouldn’t feel like a rogue expense. It deserves to be a line item in your budget and financial plan.
When we build comprehensive financial plans, we don’t account just for retirement, taxes and college savings. We account for life. If travel is important to you, it belongs in your annual spending plan. When it’s baked in, you get joy, not guilt.
3. Define your ‘dream vacation’
You might see others taking luxury cruises or all-inclusive vacations and the fear of missing out (FOMO) is real. But your dream trip doesn’t have to mean first-class airfare and five-star resorts.
Consider “Comparison is the thief of joy,” a quote that’s often attributed to Theodore Roosevelt.
Define what “dream vacation” means to you. It could be experiencing a new country, driving out West in an RV, renting a beach house with extended family or friends from college — or whatever your dream is.
Your dream might be to hire a travel planner to do all the work, or maybe you’re your own travel planner.
Clarify what matters most — adventure, rest, connection, convenience — and plan accordingly. Spend intentionally on what matters most, and trim what doesn’t.
4. Use your points and perks strategically
If you’re going to spend anyway, be smart about it.
Not sure how your reward card stacks up? Do some online research, because there’s no shortage of information and comparison tools out there, or ask your friends for recommendations. This is an area where people love to compare notes.
5. Preserve your investment
Vacations are expensive. Illness, storms or unexpected cancellations can make them even more so.
Consider travel insurance, especially for international trips or cruises.
Make sure your passport is valid well beyond your return date — and know that different countries have different requirements for this.
Check on protections your credit card companies might offer — on rental cars, for example — and notify them before you travel to avoid declined transactions.
A little preparation can prevent financial and logistical headaches.
6. Update your documents before you leave
You want to make sure that whoever is taking care of your children is prepared for the unexpected, including injury or illness.
Leave your health insurance information and get a notarized document that authorizes your children’s caregivers or other trusted adults to make medical decisions in your absence.
This is often called a Child Medical Consent form. Check if your bank offers free notary services.
Peace of mind is priceless. When your documents are in order and you know the kids are going to be all right, you can relax guilt-free.
7. Plan the splurge ahead of time
Part of what creates vacation guilt is surprise spending.
Before you go, decide and agree with your travel crew on what you’re splurging. A special dinner? A private excursion? A spa day? A private cooking class? When you’ve pre-approved the splurge in your budget, you can enjoy it fully.
8. Automate your financial recovery
If you use a credit card for convenience or rewards, create a plan to pay it off quickly — immediately would be ideal.
You could set up an automatic transfer from your vacation fund to your credit card the week you return. That way, the balance ends when the trip does, with no lingering reminder on your statement.
9. Give yourself permission
You work hard. You save. You plan.
Money is a tool. If your financial house is in order — emergency fund funded, retirement contributions on track, insurance in place to protect your assets, debt under control — then travel isn’t irresponsible. It’s aligned with your values.
Sometimes the most important financial move isn’t cutting back to avoid guilt. It’s allowing yourself to enjoy — experience, even — what you’ve thoughtfully and diligently built.
