CFO Corner Week 17: Do This Before You Book Your Summer Vacation

Here's a pattern that plays out every single summer: someone says yes to the trip, books the plans, and then figures out how to pay for it after the fact. The vacation is great. The credit card bill in August? Not so much.

This week's CFO Corner is designed to break that cycle  -  before it starts. Host Meghan walks you through a focused, practical summer savings check-in so that when summer actually arrives, you can enjoy it without the financial stress or the post-vacation guilt.

This episode is for you whether you have a big trip planned, a few weekend getaways on the calendar, or you just know summer tends to cost more than you expect and you want to be ready for it.

What You'll Hear in This Episode

Step 1  -  Get Clear on Your Full Summer Picture

The first step isn't checking your savings  -  it's figuring out what you're actually saving for. Meghan walks through all the ways summer costs money that people tend to undercount: the vacation itself, yes, but also the new swimsuit, the extra dinners out, the concert tickets, the weekend gas, the kids' camp fees.

Most people budget for the big trip and forget everything around it. This check-in makes sure you're looking at the full picture.

Step 2  -  Check Your Vacation Fund

Pull up your vacation savings  -  whatever form that takes. A dedicated savings account, a category in your budgeting app, a cash envelope. Look at the actual number.

Then ask the honest question: based on what summer actually costs for you, is what you've saved enough? Are you on track, ahead, or behind?

This isn't about judgment. It's just information  -  your starting point for everything that comes next.

Step 3  -  Close the Gap

If there's a gap between what you've saved and what you need, Meghan lays out four realistic options  -  no credit card required:

1. Save more between now and summer. With about two months until peak travel season, even an extra $150–$300 a month can close a meaningful gap. Think about what you can cut back on temporarily, or whether there's a way to bring in a little extra.

2. Adjust your plans. A long weekend instead of a full week. A road trip instead of flights. A less expensive destination. Staying with family instead of booking a hotel. This isn't giving up on summer  -  it's making sure your plans match your reality.

3. Scale back other summer spending. If the trip is the priority, protect it by being more intentional about the spending around it. Fewer dinners out, more packed lunches, skipping a few extras. The trip stays. The extras get trimmed.

4. Delay the trip. Fall travel is often less expensive, less crowded, and just as good. There's no rule that says summer vacation has to happen in July. If this summer isn't the right time financially, saving through the summer and traveling in September or October is a completely valid plan.

Step 4  -  If You're On Track

Already in good shape? This section is for you. Meghan covers how to protect your vacation fund between now and the trip  -  keeping it in a separate account so it doesn't accidentally get spent, locking in bookings before prices rise, and making sure you've budgeted for the things that aren't in the main vacation budget (gear, pre-trip purchases, activities, meals).

And the most important reminder: you saved for this. Let yourself enjoy it.

Step 5  -  Setting Up Next Year

Before the episode closes, Meghan plants an important seed: once summer is over, start a sinking fund for next summer.

A sinking fund is a dedicated savings account where you set aside money for a known future expense  -  in this case, summer. Even $50–$100 a month saved consistently from September through April means $400–$800 waiting for you when you need it, with zero scrambling.

Summer happens every year. When you treat it like a regular, predictable expense instead of a surprise, it becomes dramatically easier to manage.

Key Takeaways

• Check now, not in June. The earlier you identify a gap, the more options you have for closing it.

• Budget for all of summer, not just the trip. The small stuff adds up faster than people expect.

• You have options. Save more, adjust plans, scale back spending, or delay the trip  -  any of these beats putting it on a credit card.

• A sinking fund makes next year easy. Start it as soon as this summer ends.

Resources Mentioned

🎙️ Sinking Funds Episode (mentioned)  "The Best Budgeting Strategy You're Probably Not Using: Sinking Funds" The full breakdown on how sinking funds work and how to use them for all your irregular expenses  -  including summer.