You can check whether your tax withholding level is too low or too high by going to http://www.irs.gov and searching for withholding calculator. Enter your information and the program will show you the recommended number of deductions to claim based on your situation.

The information you provide is anonymous and is discarded when you exit the program.

 
Do your budget.  Know how much you can afford to spend on a vacation by creating a vacation budget.  This will prevent you from turning to costly credit for expected vacation expenses and other situations that may come up. 

Plan in advance.  If you start your vacation research early you are more likely to find special offers and get reservations at popular destinations.  Turn the vacation planning into a fun activity for the whole family by choosing possible locations, the length of your stay, the travel route and activities for the family. 

Make a list of the items you will need for vacation. These may include swimsuits, sun block, groceries, ice chest, etc. Purchase these items before you leave so you can shop at large retail shops and grocery stores. Any item you purchase at a camp store, or souvenir shop will cost you more money than necessary.

Choose something close to home.   Look for a great location within 300 miles or less of your home.   The closer you are to home the less you will spend on travel expenses. Think about this: to travel 300 miles in a car averaging 25 mpg it will cost you $30.24 (at $2.52 a gallon). Round trip that is $60.48.

Check out vacation rentals.  Believe it or not, most money spent on vacations is on dining out.  You may be able to find a reasonable vacation rental and save a lot of money by preparing your own meals.

Go camping.  If you love outdoor adventures camping is a great option.  Kids also love camping because it is fun, exciting and they get to make new friends.  Camping is the most budget-conscious way to have a great family vacation.  Many campgrounds are equipped with restrooms, showers and other services.  Remember to bring a pocketful of change for the showers!

An affordable family vacation can be more fun and exciting than an expensive one. If you put some effort into the planning process, you can have a perfect vacation with your loved ones and share some unforgettable life experiences.

Some resources;
www.Recreation.gov  to search national state parks for recreational activities and make reservations for campsites nationwide.

“I have lots of debt that is building up more and more each month (falling behind). I am considering a refinance loan, as long as it is a low fixed rate, to a 40 yr mortgage. I currently have a 30 (paid 5 into it) and have a home equity. Is this a good idea? Should I consider taking extra to pay off other debt?”

Paying off debt by refinancing your home is almost NEVER a good idea, especially in an economic downturn. By increasing the amount of the mortgage, and therefore the monthly payment, you are placing your most valuable asset at risk.

Let’s say you have $25,000 of debt to include in the refinance. What happens if you lose a job or become ill and are out of work for a period of time? The potential of losing the home to foreclosure is $25,000 GREATER than if the debt had not been included in the mortgage.

Another consideration: Will you really save dollars by paying off the debt through the refinance? Almost certainly, no! Paying the debt over 30-40 years, even at the fairly low annual percentage rates for most mortgages, will more than triple the actual debt balance. That $25,000 will cost $75,000 or more over the life of the loan.

Many times each month I am contacted by clients who have used the refinance “strategy” to pay off their debt to no avail. In fact, their position has become worse after the refinance. Why? Simply stated, they have not learned to live within their budget, so they continue to accrue credit cards and other unsecured debt. Often, just months after refinancing to the higher mortgage and paying off their debt, they have generated new debt equal to or more than what they originally owed!

There is an old saying- “you can’t borrow your way out of debt.” And trying to do so by using your home as collateral is almost NEVER a smart move! Contact a certified credit counselor at 1-888-282-5899 to learn about other options to help you with your debt.