1) Living on a sailboat in the Caribbean. We lived the life Jimmy Buffett sings about for eight wonderful years. Up and down the island chain from Venezuela to the Virgin Islands. Cheap…we averaged spending $1,000 a month when in the islands. Remember there is no charge for dropping your anchor in a beautiful bay. Ashore in the hotels they were paying $500 and up per night…we had a better view.

2) Full time RV is a great frugal retirement lifestyle. If you enjoy traveling without the hassle of packing and unpacking, give it a try. Monthly rent was around $450…pretty cheap including utilities. We used the RV as a means of finding a permanent retirement home. You can enjoy this fun, frugal retirement lifestyle too.

3) Live Overseas…we did for eight years. It is fun, cheap, safe and interesting. Currently one million Americans are living in Mexico. You can live very well here for $1500 to $2000 a month…including a maid…and health insurance which is $270 a year. You are three times more likely to a victim of violent crime in Mexico vs the US. Jimmy Buffett is right folks…changes in latitude changes in attitude.

4) Downsizing…when we moved from a 1800 square foot home to a 35 foot sailboat…about 50 square feet of space where you can stand up. You quickly find out that you can do without 98% of your stuff…and that is conservative. Downsizing from a big house to a condo is a piece of cake.

Still think you can not afford to retire?

1. When planning a spring break vacation, you should figure out how much you can afford to spend. Once you know how much you can afford, you can plan a vacation that will not have serious financial consequences. You should set the amount of money aside and stick to your budget. Do not take more money than you can afford to spend as you will likely spend it. As well, you should plan how you will spend your money on things like, transportation, food, entertainment, and other expenses. Wherever possible, use cash to buy your items instead of a credit card. You do not want to return from your trip and find yourself saddled with high credit card debt that you cannot afford.

2. Selecting the right vacation destination is a key component to helping you stick with your budget. Decide where you want to go for spring break. If you cannot afford a traditional exotic beach vacation, you should consider a more local destination. Miami and Las Vegas are fun places to vacation. They can also be more affordable destinations. The internet is full of travel sites that offer special spring break packages. Once you have decided on your destination, make sure you book early to ensure you get the best and cheapest deal.

3. Traveling alone or with one person can be expensive. Plan your vacation with a group of friends. You can often get great travel and hotel discounts if you book as a group. If you are traveling by car, travel with a group of friends so that you can share fuel costs. You can also share a hotel room. Having about four people per room will significantly cut down on the cost of accommodations. It can also be really fun staying together.

4. Restaurant costs can really take a bite out of the budget. Instead of dining out every day, get a hotel room that has a kitchenette and buy your food from a supermarket. If you do dine out, look for restaurants where you can get a cheap meal such as a fast food franchise restaurant. By doing so, this will significantly cut down on food expenses.

After calculating how much money you will need and you discover you still cannot afford a vacation, there are many other options to take advantage of such as going on a road trip with friends for a few days, visit family or friends, or take a day trip to another city or fun attraction such as an amusement park. No matter what destination you choose, you should have fun, relax, stay safe, and enjoy the break from your studies.

Adriana Noton is a freelance writer who specializes in providing great financial information for Canadians. When searching online for debt counselling or credit counselling, one of the many resources available is Consolidated Credit; offering a variety of debt counselling services and financial planning tools to help Canadians get their debts under control.