Ameriprise: Make your dollar travel further this summer |

Ameriprise: Make your dollar travel further this summer

Summer vacations are perfect for hitting the road and having an adventure or staying closer to home and simply recharging. The slower pace and rest a vacation offers are priceless, but that doesn’t mean you should relax your financial vigilance. Here are some ideas to help you get the most for your money as you travel this summer.

Consider off-season tropical destinations

During the winter months, tropical hot spots command top dollar. But if you’re not averse to hot and humid weather, there are bargains to find south of the Equator during the summer months. Land a package deal to a Caribbean or South American destination and you can look forward to less crowded beaches and hotels in paradise.

Take advantage of the stronger dollar in Europe

For the first time in over a decade, the U.S. dollar is approaching a 1:1 ratio with the euro. That means American travelers can expect their vacation budgets to go further in the 19 countries operating on the euro currency. Airfare to Europe has also fallen, making this summer an ideal time to cross the Atlantic. If you plan to visit several countries, consider purchasing a Eurail pass to stretch your dollar across the continent. The pass allows you to travel between multiple countries by train within a 30-day window for one reasonable price.

Think outside the hotel room

There are more lodging choices than ever before if you’re willing to venture beyond hotels for your accommodations. Check out websites that coordinate home sharing in hundreds of countries around the world, typically at prices far below standard hotel rates. Also consider family-run pensions (short-stay boarding houses in Europe) and bed and breakfasts (B&Bs) for cheaper and more intimate stays. If you like having a full kitchen to make your own meals (also a money-saver), look into short-term vacation home and apartment rentals.

Be flexible

If you aren’t particular about where you travel or specifically when, you can often find last-minute deals online. These typically are package deals to specific cities or attractions that include airfare, hotel and other amenities like a rental car or some meals. Compare offers and determine which provides the best value. Also, when you’re booking airfare, be flexible with your travel dates to improve your odds of landing a better price. Consider a midweek departure and return to avoid paying higher weekend rates. Airlines also tend to start sales at the beginning of the week, so keep an eye out for promotions.

Traveling comes with expenses, but vacations memories are irreplaceable. If you need help planning your trip, consider working with a travel agent who can provide information and tips for saving money on specific locales. Also, consider working with a financial advisor who can help you budget and work toward both your short- and long-term financial goals including traveling, buying a home, saving for college and retiring.

Rick Gross is a Financial Advisor and Private Wealth Advisor with Ameriprise Financial Services, Inc. in South Lake Tahoe, Calif. He specializes in fee-based financial planning and asset management strategies and has been in practice for 18 years. To contact him visit, 530-542-1571, or 591 Tahoe Keys Blvd Ste D2 South Lake Tahoe Calif. 96150. Investing involves risk including the risk of loss of principal. Investment advisory products and services are made available through Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial Services, Inc. Member FINRA and SIPC. © 2015 Ameriprise Financial, Inc. All rights reserved.

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


Battling food insecurity in our community (Opinion)


When we look at our community’s health, there are many factors that determine a person’s ability to thrive. Places where people live, learn, work, and play affect outcomes for health and quality of life. However,…

See more