road trips

Saving Money For The Holidays

It’s the Most…..Expensive Time of the Year!

By Vincent Mortensen

Summer has come and gone.  The heat has transitioned into the cool, crisp weather of autumn.  With the changing weather brings the changing of the seasons and all the fun holiday’s attached to them.  In a three month span, we dress up and get candy, gorge ourselves on delicious foods and top it off with giving and receiving presents.  Even the holiday season can cause stress.  In this sense, it can harm us financially.

Chances are you’re cooking Thanksgiving dinner this year for all your closest family and friends.  If you’re not cooking, you’re probably traveling to get to said meal.  With the steady rise of gas prices, long distance car trips or flying can cause a financial squeeze.  This is why we must start saving now instead of later.

Let’s do an example.  A family of four needs to travel to Denver, Colorado from Salt Lake City, Utah to reach grandma’s house for Thanksgiving dinner.  Even booking in September will cost each person on average $200 for round trip.  $800 is considered by many a major purchase and should be saved for.

Now for driving.  Let’s say gas prices are averaged out to $3.70 a gallon throughout the road trip.  Your car receives 25 mph on the highway for the 550 mile trip.  This will round out to about $162.50 round trip.  This is a much better deal but still on the expensive side.  There may be additional costs including hotel as well.

Imagine if you had to travel even further than the next state over.  Things could become even more expensive than $160 to $800.

If you don’t have to travel far for Thanksgiving, enjoy your meal and be merry!  But, if you have to spend a significant amount to see your loved ones, it’s never too early to start saving for your upcoming adventure.  Good luck!