Continue planning for that post-pandemic
vacation
Discover how to save for your dream vacation while still enjoying the present.
Carissa Lucreziano, Vice President, Financial and Investment Advice
Dec 01 2020
5 minute read
As the temperature drops and the days become shorter, you may be dreaming about a vacation on a sunny beach or in an old European city. Just because it may be out of reach right now, it doesn’t mean you have to throw all your travel plans out the window.
Don’t let the pandemic get in the way of your relaxation time! Use this as an opportunity to build on your vacation savings and still make room for some mental down-time. Taking time now to rest and recuperate will help you feel your best and allow you to better support those you are helping right now.
Use this time to your advantage
If you were planning for a vacation after travel restrictions are lifted, you can still plan towards that. Use this time to further build upon your vacation savings and make the trip well worth the wait.
If you find that you are spending less money during this time, maybe from reduced commuting, or cooking at home more, you can redirect those savings to your trip fund. Consider picking a “splurge” event or activity that you wouldn’t have been able to do before and add it to your itinerary with your extra money saved.
Speak to your advisor about the best way to secure and grow your trip funds during this time. Based on your new time horizon, you may want to adjust your investment portfolio to help grow those trip savings.
Travel when it’s right for you
As you look forward to travelling in the future, consider CIBC’s robust travel-rewards credit cards that allow you to earn points towards travel, or spend those points in other ways that suit you.
The CIBC Aventura® card is our most flexible travel rewards program:
- Aventura Points don’t expire so you can travel when it’s right for you
- Earn 1.5x Aventura Points on all eligible gas, grocery and drugstore purchases for CIBC Aventura Visa* Infinite and CIBC Aventura Gold Visa
- Redeem your Aventura Points for more than travel with Shop With Points Opens in a new window.. Or you can use the Pay with Points Opens in a new window. feature. Points can even be used to pay down your credit-card balance, or contribute to CIBC TFSA, RRSP, or CIBC Investor’s Edge portfolios
- Travel locally: Points can be redeemed for more than just flights; use Points for hotels and car rentals for a weekend getaway
In addition, our enhanced suite of CIBC Aeroplan® cards allow you to earn points faster and enjoy an enhanced travel experience with Air Canada:
- No cash surcharges on flight rewards for Air Canada flights booked with Aeroplan points; every available seat on every Air Canada flight can be booked with points — no restrictions
- Free first checked bag for primary and authorized users on fee-based cards, for up to 8 companions, every time you fly with Air Canada
- Faster points accumulation on eligible gas, grocery and eligible Air Canada purchases, including Air Canada Vacations — your Aeroplan points don’t expire
- Comprehensive insurances on fee-based cards, such as Trip Cancellation and Trip Interruption, Flight Delay and Baggage, Mobile Device insurance and more
Reimagine your rest and relaxation time
While you await that post-pandemic vacation, take time to rest and relax today. Staycations are a great way to save money because you do not have to travel far and your accommodations are your own home.
Plan day-trips to destinations within driving, walking or cycling distance. Consider outdoor activities like zoos, parks, trails and scenic look-outs. The snow also brings lots of fun outdoor activities like skiing, snowboarding, snowshoeing and tobogganing. You may even find a new hobby! Just be sure to dress for the weather and check destination websites beforehand to be aware of any physical-distancing restrictions.
While on your day-trip adventures, you may find yourself in need of a warm meal. Consider trying one of your local restaurants that you have not yet visited. If you are looking for a cost-effective option, pack snacks or small meals so that you only have to eat out for one meal that day. Again, make sure you plan ahead before going to the restaurant, as restrictions may impact their seating capacity. Make reservations where possible.
Turn your home into your oasis
If you have spent additional time at home this year, you know how important it is to have a space that is both functional and fun. Turning your home into your oasis can make every day feel like a staycation.
Think about the activities you and your family enjoy doing and make designated spaces for each. If you like games nights, have a clear space where people can gather around and have several games on hand. If reading is a passion, dedicate a quiet, cozy nook just for that.
You may also find that larger-scale home improvements are necessary. As some of us work from home and others are taking classes virtually, you may feel that the layout of your home needs to be upgraded to accommodate. Map out your dream space and enlist the help of a professional if you so desire. You can also speak to your advisor about financing options for your home renovation.
For more staycation ideas, check out our article, “Fun and affordable activities to keep your family’s spirits up”.
