More than three-quarters of Americans plan to travel this summer. Here’s how to budget

CBS News business analyst Jill Schlesinger shared tips on “CBS Mornings” for making the most of your summer vacation budget while avoiding common financial pitfalls. She emphasized the importance of planning ahead and being flexible with travel dates to take advantage of lower prices. Schlesinger also advised travelers to consider alternative accommodations, such as vacation rentals, which can be more cost-effective than traditional hotels. Additionally, she highlighted the benefits of using travel rewards and loyalty programs to save money. Schlesinger warned against last-minute bookings, which often lead to higher costs, and suggested setting a clear budget to prevent overspending. By being strategic and mindful of these tips, vacationers can enjoy their trips without breaking the bank. QUESTION: How might learning to budget effectively for vacations impact your financial habits in other areas of life?