Vacation Spending: The Takeaway For Your Getaway

Updated April 2, 2023

Any parent of young children knows that a vacation with kids is sometimes not much of a vacation at all. But traveling with kiddos ignites their imagination, widens their world view...and can even teach important money lessons along the way.

With just a few simple steps, parents can make the most out of vacation spending with their family, without any extra heavy lifting beyond those overstuffed backpacks.

1. Set expectations for the trip before you leave

Whether going out to eat, souvenir shopping, or hitting the ice cream shop, parents need to let kids know what they can expect in terms of family spending on vacation.

Even if it’s one special drink at dinner each night, a daily ice cream cone, or a t-shirt from the gift shop, parents can mentally prep kids with spending boundaries to nip the begging in the bud.

2. Don’t leave home without those SPEND dollars

To ward off the inevitable pleading for a seashell souvenir, commemorative keychain or less-than-understated t-shirt, parents can put the spending decisions in the hands of their kiddos.

By packing SPEND dollars (from allowance, extra earnings or birthday money) in their wallets, kids can make their own money choices throughout a trip. With power over their own spending, kids will learn important lessons on value, budgeting and delayed gratification, all while avoiding the battle with Mom or Dad over yet another must-have trinket or can’t-live-without sugary treat.

3. Talk through vacation spending choices

If parents are weighing a morning at the beach with a picnic lunch against renting kayaks and eating out, they can loop kids in on the conversation when spending plays a role in the decision making.

By chatting through the costs of each option, kids can start to build the mental framework for budgeting decisions in the future - on vacation, or perhaps more importantly, in their daily lives.

4. Get kids giving on their getaway

Whether it’s purchasing a postcard to send to a grandparent, a friendship bracelet for a little bestie or a sweet treat to bring home for a cousin, vacation can be a good time to get kiddos thinking about others.

If they are using their own spending money or parents are footing the bill, just getting kids in the habit of thinking about others inspires a giving glow.

The takeaway for your getaway?

With just a little extra prep from parents, kids can build money smarts all while making memories.