Traveling blues

Don’t overextend yourself with traveling costs

For many, visiting family for the holidays is a matter of “how,” not “if.” But this year, rising costs could make travel less affordable.

The best way to tame these holiday travel costs? Set financial boundaries with your family and friends early on.

1 Accept that travel isn’t always possible

As you add new commitments to your life, it can get hard to maintain the same holiday travel routine. Younger millennials may find themselves moving farther away from their families for job opportunities, like Audrey Peshkam, who moved to New York earlier this year from her hometown in Southern California.

“For the first time, visiting my parents for Christmas is going to be a pretty significant expense,” Peshkam says. “If I stay in New York long term, I’ll have to justify the cost of a cross-country flight every year.”

Antoinette Myers Perry, who lives with her wife and dogs in the Washington, D.C., area, has been balancing these trade-offs for over a decade.

“When I was in the early parts of my career, I couldn’t always afford to fly home,” Perry says.

As jobs, partners, pets and kids add complexity to holiday plans and magnify expenses, it’s essential to keep your expectations in check — and communicate them with your family.

2 Set expectations

Finances and family occasions are often two of the most important aspects of adult life, which can cause conflict if they’re not in sync. To avoid misunderstandings, communicate your limitations in advance.

Perry says that for years, the conversation about her ability to visit home for the holidays was so difficult that she would just avoid having it. Now she aims for compromise, helping her family to expect visits that work with her budget and schedule.

Whatever your holiday travel limitations are, it’s better to be honest than overextend your finances to avoid letting people down.

3 Offer to host

For many, a significant shift in life is when “home” shifts from somewhere you visit to somewhere you host. Millennials are establishing their own houses, families and holiday traditions, and they may find that it feels right to start inviting retired parents to come to them. While hosting comes with certain expenses and time commitments, it might be more manageable than traveling for some.