The Cost of March Break? $2,328

Can you afford the cost of March Break?

As winter continues to outstay its welcome, 12 per cent of Canadians say they plan to get out of dodge this March Break, according to a CIBC poll.

“March Break likely can’t come fast enough for Canadians this year given the harsh winter weather most of us have seen,” says Steve Tyers, vice president of card product management at CIBC. However, these escapes can be costly – especially this year.

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March Break To Cost An Average of $2,328

According to the poll, Canadians plan to spend an average of $2,328 on their jaunts, with 56 per cent travelling outside of Canada. The U.S. tops the list for vacation destinations with 35 per cent of those polled heading stateside, while 21 per cent have further reaching ambitions and plan to travel internationally.

Prairie-locked Canadians seem to have the most March Break travel plans with 17 per cent in Manitoba / Saskatchewan planning an escape. British Columbia comes in second with 15 per cent planning getaways for the break followed by Quebec (13 per cent), Alberta (12 per cent), Ontario (11 per cent) and Atlantic Canada (9 per cent).

Trepid Travellers Fear Injury While Abroad

Canadians are worried about encountering big unexpected costs – according to the poll, their top concerns are getting sick or injured while on vacation (34 per cent). They also cite overspending (17 per cent), losing their money or credit cards (14 per cent), and flight delays or cancellations because of bad weather (13 per cent), which makes sense given this incessant polar vortex we’ve been living with as of late.

“Vacations should be worry-free, and knowing that you are protected against travel concerns can certainly ease your mind so that you can enjoy your vacation,” says Tyers.

To ease concerns about injury or illness, be sure to get travel insurance. Many credit cards offer a myriad of protection ranging from health insurance to trip cancellation and car rental insurance. For help finding the one that might fit your needs, check out the best options for travel reward credit cards.

Outside of using travel points to offset your adventure expenses, be sure to notify your bank if you plan on using your cards abroad and always keep some cash stashed away for use in the event of an emergency.

Get Further On Points

To offset the amped-up getaway costs likely boosted as a result of increased demand, many Canadians plan to cash in on their earned travel rewards.

“It can be costly to get away in March, especially if you’re traveling outside of Canada, so using rewards such as travel points can really help cut expenses,” says Tyer adding that CIBC has seen an increase in clients utilizing the bank’s own travel rewards credit card.

For tips on getting the most bang for your buck over March Break, check out our post on winter vacays.

Happy March Break – enjoy your escape.

Related Topics

Lifestyle / Lifestyle News / Personal Finance News / Travel Insurance 101 / Your Budget

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