Snowbirds migrate south in the winter to escape cold Canadian weather and enjoy the warmth of the sunny southern United States. So, whether you’re retired or interested in a change of scenery, here are some financial tips you can implement to help you snowbird on a budget.
Create a Household Budget
Understand where your money comes from and where it goes as you plan. Start by listing all your monthly income sources and household expenses. Then, you can make tweaks to boost your income and lower your expenses as you budget for your migration south.
Boost Your Income
Use your free time to make extra cash and supplement your income. If your campground offers it, apply for a workamping program. You could also work as a tour guide, walk dogs, or offer freelance services.
Plan to spend less money so you can enjoy life without overspending. Suspend services you won’t need in your Canadian home, such as cable, internet, or newspaper delivery.
Additionally, look for ways to save money on your travels, like cooking meals in your RV rather than eating out and using free apps to communicate with loved ones. You can also maximize your fuel efficiency as you drive and compare fuel prices along your route before you fill up.
Rent Your Property
Generate extra income by renting your primary residence. This step will include additional work on your part, but the rewards could include more time in the sun. And you gain peace of mind knowing that someone is available to care for your property when you’re away or not using it.
Accumulate Reward Points
Open a credit card with a generous reward points program. Then, you can accumulate points with all your everyday purchases. Use the points for things like fuel and supplies on the road.
Choose an Affordable Destination
The cost of living varies by location and even between some long-term rental companies. So, research different options to help you find a destination you can afford. Look for a neighbourhood away from popular tourist destinations and compare set-up and living costs for long-term RV park rentals.
Open a Cross-Border Bank
Thanks to a cross-border bank, you can access your money while you travel and reduce fees associated with currency exchanges and foreign transactions. Compare pricing, products, and ease of use as you incorporate this convenient banking option into your travel plans.
Find Cheap Activities
Experience fun and entertaining activities while sticking to your budget. Start by checking local newspapers, community websites and store bulletin boards for free or low-cost community events. Many campgrounds also offer free entertainment for guests. Ask people you meet for additional free activity tips and ideas.
Shorten Your Trip
Instead of moving south for half a year, go away for a month or two. And choose to travel in the snowbird off-season or December, January, or April when rental costs and other prices may be cheaper.
Snowbirding on a Budget is Possible
With careful planning, you can enjoy affordable winters in the south as a snowbird.
Don’t forget that RVs need insurance like any other vehicle. Before you hit the road, make sure you’re covered. Contact Wayfarer Insurance for a personalized quote today.