Independence Day Tips for Your Wallet
June 30, 2006 — -- A hot dog, a beer and a couple of sparklers -- that's how many people remember celebrating the Fourth of July in past years. But now, festivities have become so elaborate and the costs associated with the holiday so elevated that the Fourth seems more about dismantling your wallet than celebrating your independence.
Your finances may take a substantial hit from all sides this holiday weekend, which will likely require all or some of the following: a roundtrip airline ticket ($500); a couple of gas tank refills ($80); a hotel ($250/night); a Jet Ski rental ($75/hour); cocktails ($50); lobsters (market price to be determined); and a new outfit ($100).
So, if you're traveling to a Fourth of July party or are hosting one of your own, you could easily throw down more than $1,000.
A record 40.7 million Americans are expected to take trips during the long holiday weekend. That's up half a million people from last year.
"This is one of the most popular travel weekends. People are looking for savvy ways to make their travel plans," said Katie Deines, spokeswoman for Expedia.com. "A lot of people have marked this weekend on their calendars as the one they're going to take off for the summer."
More than a quarter of the total of Fourth of July travelers expect to stay at a hotel or motel. But if you haven't made your hotel reservations yet, AAA said finding available rooms could be a challenge.
The best way to get that hotel room is to book it with your airline fare. By doing that, according to Expedia, you'll save an average of $200.
Travelers not only can book transportation and accommodation packages to save money, but there's also an increase in companies that offer other package incentives.
Hotels.com offers a $30 gas rebate on the site for those who book a two-night hotel stay. Online hotel booking sites are witnessing a changing trend in the types of accommodations that people are looking for.
"A lot of people are finding new ways of saving [money] through vacation rentals, condos or bed and breakfasts," said Nancy Williams of Hotels.com. "They can eat there in the kitchen and not dine out."
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