Have a Great Staycation!

Jun 06, 2016

MoneyLife100Americans had planned to spend an average of $1,621 on their vacations last summer, according to an Allianz Global Assistance USA survey. That was down from $1,895 the previous year, as 40 percent of millennials planned to spend less than $400 on summer travel. One of the easiest ways to trim your travel spending is through a stay-at-home vacation, or staycation. You can find great ways to enjoy some time off without ever leaving home. Not sure how to find the fun in staying put? These tips from the Pennsylvania Institute of Certified Public Accountants can help you make the most of sticking around.

Focus on the Experience

The key to an enjoyable staycation is understanding that it is the experience, and not the trip itself, that can create lasting memories. For most people, the true benefit of a vacation is not the journey but the joy of sharing time with family or setting off on a new adventure. Before planning an elaborate trip, think about what you really hope to gain from it. You may find that you can have everything you want while staying right where you are. Gather family together to plan local activities you can all enjoy together. Or investigate adventures in your own area that you may have been missing.  

Be a Tourist

What would you normally do on a vacation? Visit a museum? Ride your bicycle on beautiful back roads? Meet new people? A staycation gives you the chance to be a tourist in your own hometown. Just as many native New Yorkers say they have never been to the top of the Empire State Building, you may not have checked out all the historic sites, natural wonders, or cultural attractions in their own neighborhoods. Map out places you’ve never seen—or don’t visit as often as you’d like—within an hour of where you live, and explore what they have to offer.

Spruce Up Your Great Outdoors

Consider using your vacation budget for outdoor home improvements that you can appreciate year-round. A new set of lawn chairs or an outdoor dining area can make it much more fun to entertain or simply wind down in your own backyard. Consider upgrading your cooking space with a new grill or adding a fire pit that your family can gather around. Throw in a hammock and you’re ready for relaxation. Your enjoyment of these purchases will last longer than a short trip—and you may enhance your home value, as well.

Create Your Own Spa

The many pleasures of a vacation often include a comfortable hotel room where you can kick back and relax. But why not use your vacation funds to create the same atmosphere right in your own home? For example, if you haven’t replaced your mattress in a while, it may be time to shop around to see if you can find one that offers better support, keeps you cooler, is allergen free, or otherwise makes it more likely you’ll have uninterrupted sleep. A new paint job and some cozy bed linens can make your bedroom and bath more inviting places to relax. Consider replacing your tub to make it a calming place to unwind at the end of the day. Once again, you’ll be able to appreciate your investment long after a typical vacation would have ended.

Consult Your CPA

There are many ways to have fun and indulge yourself while still making smart financial decisions. Be sure to ask your local CPA for advice on the best ways to budget for fun. Don’t have a CPA? Friends and family can be good resources for finding a trusted adviser. You can also visit www.picpa.org/moneyandlife to use the CPA locator and to find other valuable articles and videos.

The Pennsylvania Institute of Certified Public Accountants (PICPA) is a premiere statewide association of more than 22,000 members working in public accounting, industry, government, and education. Founded in 1897, the PICPA is the second-oldest state CPA organization in the United States.

Money & Life Tips are a joint effort of the AICPA and the Pennsylvania Institute of Certified Public Accountants (PICPA), as part of the profession’s nationwide 360 Degrees of Financial Literacy program.