Personal Finance Advice

You want to go on vacation this summer. Usually your vacations consist of hopping on a plane to visit a touristy location or instead to meet up with out-of-state family members, but nowadays you’re wondering if you can really afford to spring for the cost of airline tickets. You still want your vacation, but not only do you know that the airline tickets will probably cost a pretty penny, but also that you’re going to have to wait in long lines, take off your shoes in the security area, and if you have traveled recently you’ll soon realize that most passengers are trying to bring their luggage onboard the plane instead of paying the additional fees charged for checking bags.

All in all, flying has become an expensive hassle. Even when ticket prices drop, there are still taxes, booking fees, and the relatively infuriating charge for checked baggage that more and more airlines are charging. Should you just drive instead?

Driving to your vacation destination certainly isn’t feasible if you’re heading to Hawaii, but if your jaunt is taking you a few states away then it can be a viable option. You shouldn’t assume that the cost of driving somewhere will automatically be less than the cost of flying somewhere. In fact, you may be able to find a good deal if you’re flying from one major airport to another, but there is no avoiding the aforementioned hassles that can come with flying.

When you’re making your vacation plans and trying to decide whether driving would be better for your finances than flying would, you need to compare the two side by side. Get a realistic view of what the cost will be for both and then compare the two along with any additional considerations. For example, if you can’t stand the idea of being stuck in a car for hours on end, then flying may be a better alternative. Conversely, if the thought of possible flight cancellations or layovers makes your stress levels shoot up, then flying probably isn’t a good idea.

If you’re looking purely from a personal finance perspective then consider these comparisons:

Ticket Cost versus Driving Cost: The cost of an airline ticket is easy to estimate using a travel booking website, and the fuel costs of a drive can be estimated on a variety of sites. When flying, also consider extra fees. When driving, also consider hotel stays if your drive spans over a couple of days.

Time is money: If you have limited time for your vacation, you may not want to spend the bulk of it driving in a car. Then again, there is certainly no guarantee that an airline will get you to your destination on time.

Extra Fees versus Extra Expenses: You’ll pay a variety of extra fees when flying, even if you get a great deal on your ticket. When driving, you’ll probably stop and buy snacks and maybe visit a few tourism spots, so take these expenses into consideration.

You also need to keep in mind the possible wear and tear on your car if the road trip is a long one. If you have a reliable car then this may not be a very large expense at all, but if you have to rent a car for your trip this can add to the total costs exponentially. Flying can be convenient, just like driving can be a lot of fun. After you have compared the costs of the two options and figured out which method would be less expensive, consider what exactly you’re looking for in a vacation experience (fun road trip, quick transportation to vacation spot, etc) and decide which option works best for you.