Craving a vacation? Here are five ways to save for your next getaway [Video]

The cost of living is high, but that isn’t stopping Canadians from going on vacation.

According to CIBC’s 2024 Summer Spending Poll, Canadians are showing a strong desire for travel this summer, with 45 per cent saying that they have already made travel plans and another 29 per cent who are actively considering a summer trip.

“While Canadians are expressing concerns about how inflation will affect their summer travel plans, this doesn’t mean that the desire to travel has dissipated by any means,” says Carissa Lucreziano, vice-president of financial planning and advice at CIBC. She points to poll results which show that 67 per cent of respondents would opt to invest in experiences over material goods.

Whether you’re craving a European vacation or a beach vacation in Mexico, there are ways to fund your future travel dreams without taking on debt, she adds. However, it may require some concessions and …