Las Vegas, NV (PRWEB) April 04, 2013
Money Mermaid recently detailed common blunders people make when creating their budgets and how to avoid them. Many people think just balancing their checkbook will keep them on track financially, but there is a lot more to financial freedom. Setting up a family budget and sticking to it is a great way to take control of family finances.
Money Mermaid points out one common mistake people make when setting up a budget is not planning for their vacation. Putting a little away each month for an annual vacation is a great way to spread to cost out over the year. Today.com offers several great tips on how to fit a vacation into the budget. Money Mermaid likes their idea of using saved up miles or points from credit cards to help pay for a trip. Today.com also lists several sites to use as a resource for finding money saving rates on hotels, transportation and even meals while on vacation. Choosing off peak travel dates can also cut down on costs. For example, spring break room rates can be almost double the average rate in prime destinations.
According to DebtConsolidation.com a vacation for the average family will cost $1,415. That is a large amount not to save up for in the budget. The added interest of charging to a credit card can cause that price tag to drastically increase. For many people those credit card bills can get out of control. Money Mermaid recommends credit card consolidation or even taking advantage of a 0% balance transfer offer to help pay off credit cards and help with debt restructuring.
Setting up a budget may not be easy, but with dedication and avoiding common errors it is achievable. For Money Mermaid’s complete list of budgeting blunders visit moneymermaid.com
MoneyMermaid.com is a site dedicated to helping people take control of their finances.