my money
At a Glance
Helping You Understand Financial Planning and Investments
Planning a ‘staycation’ – a recipe for a fun-filled
holiday when money is tight
During a recession, “vacation”
can seem like a four-letter word –
h-o-m-e! At times like these,
people may be worried about
holding onto their jobs, and
trying to stretch their paycheques
as far as possible. Taking time off
to travel to a far-off destination is
an idea often suited for more
prosperous economic times.
But just because we’re in the
midst of a recession doesn’t mean
we have to throw in the towel on
holiday planning. With some
creative thinking, it’s possible to
plan a vacation on a shoe-string
budget. Instead of visions of
margaritas on a Caribbean beach
or fantasies of eating camembert
under the shadow of the Eiffel
Tower, we’ll need to shift our
dreams somewhat to adhere to
a tight budget and still enjoy
a quality vacation.
Finding fun in your own city
For now, when money is tight
and times are tough, shelve the
idea of a trip to an exotic destination but don’t shut the door on a
holiday altogether. Plan some
rest and relaxation in your own
city, and you’ll quickly realize
that there’s no shortage of things
to do when you venture outside
of your routine.
Write out a list of activities that
you have always wanted to do
(but never had time for) within
a 150km radius of your city.
Explore a new neighbourhood,
consider eating at a restaurant
from a different country for each
day you’re on holidays (remember, since you’re not flying anywhere, or driving long distances,
you’ll be saving plenty of cash).
Take plenty of pictures, print
a few out, and mail them to your
friends as postcards. Nothing says
“we’re on vacation!” better than
sending out postcards.
Make a list of all the local museums and art galleries, and call
them to find out if they have halfprice specials or ‘free’ evenings.
Many of Canada’s top museums
and art galleries offer special
deals during limited hours on
certain days of the week. Take
advantage of this, and bring your
family along for an educational,
enlightening, and potentially free
outing.
If your children are begging to go
to Disney World, check if there’s
an amusement park within a
short drive and plan a day trip
with a picnic lunch. Or, better
yet, visit the local science centre
(most Canadian cities have one).
and the kids will marvel at all the
interactive games and activities
available to keep them exploring
and satisfying their curiosity
while still learning.
Group retirement services are provided by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies.
© 2009, Sun Life Financial. All rights reserved.
Continued
☛
Explore the outdoors (cont’d)
You don’t have to travel far distances or spend huge amounts of money
to enjoy the great outdoors it’s all waiting for you right outside your
door. No matter what the season, there are plenty of outdoor activities
that can be fun for the whole family, without putting too much of
a dent in your wallet. Check with your local conservation authority,
local camping supply store or tourist information centre for a list of
nearby hiking trails and natural wonders to explore. Pack a lunch, and
take a day trip in the wilderness to enjoy nature at its best , fresh air
and exercise. It may not be the same as climbing up Machu Piccu, but
it’s much more affordable and accessible, and you may be pleasantly
surprised at how wonderful the scenery is right in your own backyard.
While day trips are generally the cheapest option for those planning
staycations, it is sometimes important to spend a night out of the
house, so you really feel like you’re on holidays. Again, since you’re
saving money on airfare, perhaps you can afford to spend a night in a
hotel in your own city. As most hotels offer amenities such as an
indoor or outdoor pool, spa services or room service, you can enjoy a
full day of relaxation by enjoying a book by the pool, pampering yourself at the spa, and then ordering from room service while watching a
good movie. Check travel websites such as Hotwire.com, Expedia.ca,
or Travelocity.ca for special deals that are often much cheaper than
booking directly through the hotel or travel agency.
If you have children, they may enjoy something as simple as pitching
a tent in the backyard. It doesn’t cost a thing (except the price of
a tent), and it’s good preparation for future camping trips.
The concept of a staycation is a fairly recent phenomenon, having
gained popularity in 2007-08, as a result of soaring gas prices. With the
current downturn in the economy, staycations are becoming
increasingly more popular as families look for alternatives to lavish,
exotic holidays. And, the options and bargains will likely continue to
grow as more people choose ‘home’ as a holiday destination.
i
If you have a general question or suggestion about this newsletter, please send an e-mail to grsmarcom@sunlife.com or write to
my money At a Glance Newsletter, Group Retirement Services Marketing, Sun Life Financial, 225 King Street West, Toronto, ON M5V 3C5.
This bulletin has been created exclusively for you. It addresses issues to help you with your financial planning and investments, and cannot be
reproduced in whole or in part without the express permission of Sun Life Financial.