School's out, save on summer trips

NEW YORK (5/28/08)--Gas and food prices are soaring, but that doesn't mean your family has to forego its summer vacation (MarketWatch May 14).

A few money-saving strategies will have you building sand castles or sleeping under the stars in no time:

• Decrease food costs. It's fun to eat out, but buying food at restaurants or convenience stores really adds up. When lining up lodging, try to book a suite with appliances so you can cook your own meals. Stick to a plan such as eating only one meal out each day. Purchase snack items ahead of time and assemble treat bags before your trip.
• Stay in the neighborhood. Instead of spending big bucks on skyrocketing flights, consider day trips that are close to home to save on gas and lodging. Among local museums, historical sites and parks, you'll get to take advantage of places you didn't even know existed but are practically in your backyard.
• Find inexpensive lodging. If your travel requires overnight stays, use the Web to search for the best deals. Consider staying during the week when many hotel prices are cheaper than on weekend nights. Campgrounds, hostels, and college dorms also are inexpensive lodging options.
• Take advantage of off-season locations. Summer is peak season at many attractions, but traveling to popular winter destinations can help your budget. Summer is a great time to relax at a ski resort or visit Florida. You even might find some deals for vacations to the Caribbean and Mexico.
• Have a souvenir strategy. Trinkets are tempting, especially to kids, but ask yourself what will happen to the items once you're back home. Set a souvenir budget and enforce a policy such as: Everyone gets to choose one souvenir within a certain dollar amount or everyone gets a T-shirt that they'll actually wear. Or choose a souvenir the entire family can enjoy such as a Christmas ornament or special photo (Thedollarstretcher.com).

For more travel tips, watch the "Money and Travel" video and read "Take a Summertime Drive to Safety" in Home & Family Finance Resource Center.

Small sacrifices help in unstable environment

DULLES, Va. (3/5/08)--When the economy is booming, small luxuries almost seem like necessities--like that daily cappuccino or that soda from the vending machine. But in today's economic environment, many consumers are cutting back (AOL News Feb. 27).

One Wisconsin man used to stop at a local convenience store each morning and buy coffee for his 5 a.m. commute to work. Now he fills a thermos and takes it along for the drive.

His wife, who used to pick up a sandwich during lunch-hour errands, is being more conscientious about packing her lunch.

The couple has invested in a membership at a local wholesaler to take advantage of discounts on cases of Gatorade. Their 10-year-old son, an avid hockey player, used to ask for a Gatorade from the rink concession stand several times a week. Now, he's content to throw a bottle from home in his bag and drink it after practice.

In a time of belt-tightening, there are many ways to cut back:

Rent movies. A night at the cinema easily can cost $40 for two people--after stocking up on buttery popcorn, large sodas, and peanut clusters. Instead, rent a movie and stay in. Pop corn in the microwave.

Get a library card. Instead of running to the bookstore to buy your favorite author's newest release, reserve it at the library. You also can rent movies there.

Cook dinner at home. If you're itching for a night out, consider cooking your main meal at home and going out for dessert. You'll still have the social enjoyment--but at a fraction of the cost.

Double your recipe. When you make a home-cooked meal, make enough for leftovers for the next several days. Or, freeze half so you're not running to the grocery store as much.

Use coupons and "savers" cards. Comb the Sunday paper for coupons and take advantage of grocery store savers cards. The woman mentioned earlier saved $30 last week and bought only the things she needed--except for a half-gallon of ice cream. Check for online coupons from the stores you regularly shop, too.

Drink tap water. At $1.25 a pop, purchasing bottled water adds up. Fill a cup with ice and get water from a faucet. That's probably all that was available when you were a kid--you'll survive.

For more information, read "Live Simply to Reap Savings" in Home & Family Finance Resource Center.