Making The Most Of Your Trip

By Neale S. Godfrey For New York Life

It's time once again to take a family vacation. Are you and your children going to tear around the house stuffing clothes in bags and rummaging through drawers for maps and sunscreen? Why not instead take a novel approach? Plan ahead.

Vacations can be rewarding and educational, as well as fun, if you turn them into a family project from start to finish.

When children take an active role in planning a vacation, they make an investment in their own adventure. As well, the experience becomes more meaningful.

To begin, take your children to the travel agent, or have them look in the travel section of your newspaper for ideas on where to go. They can help to shop around for good deals by calling airlines or studying the internet for travel bargains.

Once the family has agreed on a vacation plan, turn it into a family project. Go to the library or check on line for information about the place you plan to visit.

Encourage young children to create visual presentations in anticipation of the trip. Let them imagine what they'll be seeing. They could draw a picture of the Grand Canyon, Mickey Mouse or just the beach.

Older children could research the area they'll visit and write a short report. They can find information in books and magazine articles on the internet or by writing the region's Chamber of Commerce or tourism office.

When all the information is collected, plan together what sights and activities the family might enjoy.

The initial cost of the vacation is just the start of your budget planning. Don't forget to plan for costs such as transportation to and from the airport if you will be flying, extra clothes that you may need to purchase, meals, film, souvenirs and side trips. Think about how much you'll need to spend, how much is saved, and how much you'll need to save each week before the trip. Then, before the trip, ask your children to contribute to the family vacation, perhaps by figuring out ways to save money along the way. Instead of eating every meal in a restaurant, the family could make sandwiches for lunch. Or your family could save money for the vacation by renting a video and making pizza, instead of going out.

Individually, your children should save their money and buy their own souvenirs and gifts while on vacation. If they want to earn extra money for the trip, they could do odd jobs around the house or yard.

It's important for your children to have a set amount to spend. Talk to them about budgeting their money and making choices. Explain to them, for example, that they don't have to bring every friend a gift from the vacation. They can send postcards from the trip.

Take your children to the bank to buy traveler's checks in their own names for the amount of their "trip money." Buy sticking to a budget, they are learning an important life skill.

A travel journal can be a wonderful addition to any vacation. In it, children can record what they did each day, what they enjoyed, new foods they tried and where they spent their money.

Whatever happens on your trip, you'll be glad you planned ahead. Good planning will guard against disappointment and overspending and help to ensure that the entire family gets the most out of the trip.

Here is a checklist of what to do before the trip:

Who will take care of pets and plants?

Who should get copies of your itinerary?

Should you notify the police you are going away?

Should you notify the post office to hold your mail or have a neighbor take it in?

Here is a reminder of things to pack:

Travel Journal

Camera and film

Addresses for postcards

Sunscreen, bathing suit, etc.

A trip to a foreign country is a wonderful opportunity to explain how foreign exchange works. Have your children bring along a calculator to help with conversions.

You can play a game of comparative shopping. Let the kids compare prices of common items at home with items from the country you're visiting. How much does an ice-cream cone cost? How about a pair of sneakers or even a hamburger? In some countries, the kids may be in for a big surprise.

Neale S. Godfrey is a former bank president and an acknowledged expert on family finance. Her 14 books include a #1 New York Times Best Seller, Money Doesn't Grow On Trees and her latest book, Money Still Doesn't Grow On Trees: A Parent's Guide To Raising Financially Responsible Teens and Young Adults. She has authored an educational program called The One and Only Common Sense/Cents Series which corporations are donating into their local community schools and after–school programs. Neale has appeared on TV on The Oprah Winfrey Show, Good Morning America, The Today Show, CNBC, NBC, CNNfn. She frequently delivers lectures on "How to Raise Financially Responsible Children." For more corporate marketing programs, products, and books go to Neale's Web site www.childrensfinancialnetwork.com or call 908–879–8898.

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