Spend wisely during your summer trip

During your upcoming summer vacation, it's important to remember to relax while not breaking the bank.

Far too often, individuals and families dig themselves into debt because of how much they spend while away from home. However, it's entirely possible to afford a lavish overseas trip or a weekend getaway and not have to come home to more bills and credit card statements than you'd like to see.

Know when to use your credit card

Credit cards are helpful on any trip because of the convenience and security they offer, not to mention the ability to earn rewards points that can be used in the future. But you shouldn't go around swiping your card every chance you get.

Instead, consider using credit to pay for part of your trip, as U.S. New & World Report recommended. Consider buying airfare and paying for hotels with credit. Once you start racking up the rewards, you might then be able to use those points for future vacation plans.

For example, the Plutonium card from Landmark Bank will let you redeem points for travel or gift card options that will no doubt come in handy when you're planning a trip.

Couple on the beach.Relax this summer without worrying about debt.

Create a vacation fund

Saving for a trip ahead of time is always a smart financial move because you already have the money available. Avoid taking money from your emergency savings account and instead dip into your regular account or consider setting up a dedicated vacation fund that can also help you account for hidden fees, CNBC noted.

In the weeks before your trip, focus on aggressively saving. You might have to cut back on some amenities and entertainment options, but you'll notice the payoff when you're able to take a longer vacation because you can afford to do so.

Take advantage of internet banking

Internet banking can be your best friend while on your trip because you'll be able to track your spending down to every purchase. With the ability to keep a close eye on transactions, you can also get an idea if your vacation spending habits can be maintained.

Additionally, you won't be surprised by any transactions that show up on your statement. While vacations shouldn't always be spent looking at a phone's screen, keeping track of your finances at the end of every day doesn't hurt.

Going on a summer vacation doesn't mean you have to dig yourself into debt. With the help of credit card rewards, savings accounts and internet banking, you'll be able to make the most of any trip.

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