Spring Break can be a time to relax, catch up on school work or do service work, but it can also be a week of wallet-draining spending.
Bill Sultan, president of Momentive Consumer Credit Counseling Services said prioritizing and living within financial means is the key to avoiding overspending during Spring Break. He said students should ask themselves what they want to spend their money on and should consider the "high price of instant gratification."
"A lot of it is common sense," he said, "but I'm not sure how much common sense is used during Spring Break."
Using credit cards can be dangerous, Sultan said. Students might have to pay a lot more than they spend.
"If you have student loans, you don't need any other debt," he said.
Using credit cards is how students most often overspend because it's "spending money you don't have," he said.
As a student, having a credit card usually means double-digit interest rates, Sultan said. Over time, the interest can double the amount a student has to pay, he said.
Using parents' credit cards can make overspending just as easy because they do not directly affect students who won't be paying the bill, he said.
If paying cash is not an option, using debit cards is the best alternative, he said. The only problem people might have when paying for their trips is not balancing the checking accounts from which the debit cards withdraw.
"You know that debit has its limits because it's only got as much money as in the bank account," he said.
Freshman elementary education major Jodi Leek said she would be traveling to Florida for Spring Break. She said she will pay for the trip with cash she saved. She said cash or debit cards are better than credit cards because they are simpler and making credit card payments can become a problem.
Sultan said he has seen students spend freely until they are out of money. Spending irresponsibly for one week while on vacation can stick with students for the rest of their lives, he said.
"[Sticking to a budget] makes all the difference in the world," he said. "It can be a lesson in life, either a good lesson or a bad lesson that you have to pay for."
In addition to budgeting and avoiding credit cards, students can do many things to save money while on their break, Sultan said.
Cramming as many people into one hotel room as possible saves money, he said. Some places have policies against it, however, so every caution should be taken, he said.
Despite gas prices, driving is cheaper than flying, he said. Carpooling can cut down on gas costs for each person. Students who want to rent vehicles should do so outside a tourism area because neighboring towns often have lower rental rates, he said.
Food costs can also take a big chunk out of the budget, he said. Rather than eating out every day, buying groceries will save money. Eating continental breakfasts, which many hotels offer, will also cut back on food expenses, he said.
Sultan said students get themselves into financial trouble when buying alcohol. They might not expect the prices to be expensive, and sometimes students drink more than they anticipate, he said.
"A fair percentage of total expenditures is going to be on alcohol, especially bar drinks," Sultan said. "If every day is a weekend, you're going to spend more time partying."
Tourist traps are easy to fall into, Sultan said, and they can drain wallets quickly.
Restaurants, bars, clothing stores and other retailers in popular Spring Break destinations will increase prices during the season, he said.
One alternative is to find out where the local residents go, he said. Taking time to look for bargains and being conservative when buying clothes and souvenirs will save a noticeable amount, he said.
Junior musical theater major Michael Warrell said he is going to New York City for Spring Break.
He said he has been saving money for months and has budgeted for his travel, entertainment, food and hotel costs.
Tips to save money
- Make a budget and stick with it.
- Buy groceries instead of eating out.
- Instead of flying, drive.
- Avoid tourist traps such as restaurants and clothing outlets.
- Look for bargains.
- Take a conservative approach to clothes and souvenirs.
- Use cash instead of plastic. If cash is not an option, use a debit card instead of a credit card.
Survival Tips
- Use sunscreen. SPF 15 is recommended. If you get burned, take asprin or ibuprofen. Aloe vera can help soothe the burn.
- Drink plenty of water. If you drink, are out in the sun or dance you will dehydrate.
- Watch for traffic. Streets around bars and clubs will be busy. Be aware that people might drive drunk, doped-up or just stupid.
- If you are stung by a jellyfish, don't rub it. It will only make it worse.
- Fire extinguishers are not a toy. If you use one, you will probably be asked to leave.
- Avoid climbing on balconies. If you hang from balconies while drunk, it is more than likely you will fall.
- The legal drinking age is 21. Authorities will not forget that no matter where you are, except for some of Canada.
- Embrace the herd. Don't let friends wander off. Creepy people go on Spring Break too.
- Watch your drinks. Some people will try to spike yours.
- Condoms. Condoms. Condoms. Don't come home with something you didn't leave with.
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