As we get into the summer season, here are several tips on how to spend wisely, whether you’re taking a vacation or stay-cation…
1. Make a budget! (Ok, we are bookkeepers so this makes perfect sense to us!) Have the kids help you so they understand what you can and can't afford on your vacation.
2. Put it on your calendar. Don't forget to squeeze it in between summer ballgames and camps! It will give you something to look forward to and be a reminder to save pennies. Do you really want the $5 daily latte for $150 over 30 days?
3. How far do you want to travel? Can you do lots of day trips from one central location? Or would you rather allow more time to make the travel relaxing?
4. What type of lodging do you prefer? Do you really need all the modern conveniences or can you rough it and be adventurous -and save money at the same time?
5. Plan ahead for meals and get your kids involved. Let each of them pick a restaurant at least once. We often use apps like Urban Spoon, Open Table or Trip Advisor to help us find what meets our needs.
6. Are there any special outings you’d like to do? Does your destination have a unique, adventurous opportunity? Take a family vote!
7. Relax! Remember to schedule some breathing room for yourselves, in both your time AND your budget. Not every minute or every dollar has to be in a constant state of activity. After all, isn't that why you're taking a break in the first place?
Is your company planning an expo trip or training trip?
1. Ask your staff to come up with ideas to keep expenses down. How you travel and where you stay can be a couple of your biggest savings categories.
2. Let them know what the company will or will not reimburse. Do you have a travel reimbursement policy? For example, will you cover a taxi if alcohol is consumed? Will you reimburse for more than a 20% tip?
3. Make sure your employees know they’re included in whatever activities you’re doing as a group.
4. Encourage your employees to avoid anything that could be damaging to their reputation or yours. Social media publicity can be great or awful, depending on the situation.
And, as always, you're welcome to call us while you're on vacation in case you forgot to ask a bookkeeping question before you left. We're happy to work for you while you play!