I always wondered which parent I got my financial smarts from, and I now I know that my Mom knows a thing or two about saving money.   If you follow her advice, she may be able to help you save a few bucks by doing something simple on your next trip.

When most of us plan our family vacation for a week to another destination in the United States, we typically go about the process of renting a car.   While we may use different websites to find us the best deal on where to rent the car, most people end up renting the car directly at the airport.   That is where the real flaw is in our planning process.

Recently, my Mom took a trip to Seattle.   She compared the weekly car rental prices for Hertz at the airport and at a Hertz rent-a-car location just 15 minutes from the airport.  What she found was astonishing.  The car rental facility was half the price at the location 15 minutes from the airport than it was renting the car directly at the airport. That is how to save money renting a car.

Although a cab ride to the location cost $30 dollars each way ($60 total), and caused a little inconvenience to start the trip, the savings by renting the car at the remote location was about $200 for the week.  If you net out the cab ride, that is a $140 savings by going to the location just 15 minutes from the airport.    It might seem like an inconvenience, but that savings could get your family into one or two attractions for the week, or pay for two to four family meals during the vacation.

I know I have taught my Mom a thing or two about financial planning over the past twenty years.  Thanks Mom for returning the favor!

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Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder oXYGen Financial, Inc.

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oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

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