Staycation or Vacation? How to Choose the Best Option for Your Wallet

Deciding between a staycation and a vacation? To make the best choice, it is essential to consider the value, costs and unique advantages of each. Here is a breakdown of the expenses and benefits to help you choose the option that best suits your needs.

Cost Comparison

Transportation

Planning a traditional vacation typically involves a range of transportation expenses—flights, trains, car rentals, parking fees and gas—that can add up quickly. In contrast, staycations generally come with minimal transportation costs, as you can rely on your own vehicle, spend less on gas due to shorter distances and have more flexibility to enjoy convenient alternatives like biking or public transit.

Accommodations

Accommodation costs are often one of the largest expenses when taking a vacation, as they include not only the price of a hotel room or vacation rental but also additional hidden fees like resort charges, cleaning fees, tips and taxes. Staycations, however, let you avoid these costs by allowing you to sleep in the comfort of your own home or choose nearby, low-cost options like short-term Airbnb rentals or camping.

Food and Dining

Dining costs can be a large expense when on vacation as you are usually limited to eating out, ordering room service or opting for all-inclusive food packages. With staycations, however, there is the flexibility to cook at home or dine out locally which is often at a much lower cost.

Entertainment and Activities

Traditional vacations often come with added expenses for activities like guided tours, theme parks, cultural excursions and event tickets, which can quickly increase the total cost of a trip. In comparison, staycations usually offer opportunities like free or low-cost activities for locals, providing a fulfilling experience without the high expenses associated with typical tourist activities.

Benefits of Staycations

Staying local eliminates major expenses like airfare and accommodations, baggage fees, travel insurance and currency exchange rates. Without the need for a long journey, you can use fewer vacation days, allowing you to save paid time off for future trips. The staying-close-to-home approach also offers financial flexibility by letting you control how much you spend on entertainment, food, and activities, with the option to spread out costs over several days instead of front-loading a vacation budget. Taking advantage of local deals can further reduce expenses, and staycations also minimize hidden vacation costs like souvenir purchases and travel-sized essentials.

Benefits of Traditional Vacations

Though traditional vacations tend to be more expensive, the additional cost is frequently justifiable due to the unparalleled experiences and memories they offer. The ability to “get away” also holds intrinsic value in terms of mental health and relaxation. Plus, cost-effective travel over longer distances is possible through budgeting, early planning, and leveraging travel points, off-peak pricing, promotions and deals, and all-inclusive packages. Likewise, you can travel on a budget without sacrificing the experience by choosing alternative options like backpacking and flying budget airlines.

Which Is Right for You?

What it really comes down to are your finances and preferences. When planning time off, consider your financial capability and financial goals for the year. From there, you can align your travel plans with your overall financial targets. Also, consider what you want from your time off, whether it be relaxation or adventure. Evaluating the trade-offs between splurging on a vacation and staying local for the sake of savings could help. And if your schedule and budget allow it, maybe you can plan for both staycations and vacations. That way you enjoy periodic local retreats while saving for bigger adventures.

SESLOC Benefits

If you are doing a staycation on the Central Coast, you can make use of the Local Rewards¹ program where eligible SESLOC Visa Signature Rewards² cardholders earn more points per dollar when they shop at participating local businesses. There are over 200 amazing retailers, restaurants, wineries, and grocery stores from which you can choose to spend and earn more.

And when traveling a distance, consider using the SESLOC Visa Signature Rewards credit card to help alleviate some of the stress associated with vacation planning. Some of the travel benefits² offered are concierge services³ that assist with travel arrangements, emergency roadside and travel assistance, and auto collision coverage for rental cars, making planning smoother, more affordable and worry-free.

1. Local Rewards bonus points are earned on purchases made at participating Local Businesses only. Participating Local Businesses (“merchants”) are subject to change at any time without notice. Participation in Local Rewards does not constitute an endorsement on the part of either the merchant or SESLOC Credit Union. Purchases made at participating merchants processed through third-party services (e.g. DoorDash, Grub Hub, Uber Eats etc.) may not qualify for bonus points under Local Rewards. Local Rewards is part of the SESLOC Rewards program; see seslocrewards.org for complete terms, conditions, restrictions and eligibility that apply. For any questions regarding Local Rewards, contact SESLOC Credit Union.

2. Certain terms, conditions and exclusions apply. See a summary of Visa Signature^®card benefitsand view the complete benefits guide.

3. SESLOC Visa Signature Rewards cardholders are responsible for the payment of any and all charges associated with any goods, services, reservations or bookings purchased or arranged by the Visa Signature Concierge on cardholders’ behalf. Any such purchases or arrangements are solely between the cardholder and the respective merchant, and Visa is not a party to the transaction. All goods and services subject to availability. See full terms of service at visasignatureconcierge.com.