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    DON'T LET RISING TRAVEL COSTS RUIN YOUR VACATION

    DON'T LET RISING TRAVEL COSTS RUIN YOUR VACATION

    CHICAGO, IL (May 2, 2012) - American families take an average of 4.5 trips every year. This year, it might be harder to do that, since the most recent Travel Price Index rose 3.6 percent year over year. This is primarily a result of rising gas prices, but lodging is getting more expensive, as well.

    "Summer road trips and holiday flights home to see family are part of the fabric of this country," said Mike Lewis, Regional President, BMO Harris Bank. "With a little advance planning and budgeting, families might not have to forgo their vacation traditions even though travel is more expensive."

    Lewis offers a few ways to make saving for vacation a little easier and more organized.

    • Have a plan in mind. If you know where you're vacationing, when you want to go, and what types of activities you'll participate in, then you'll have a better idea of the trip's cost, and you'll be able to budget more effectively.
    • Be realistic about the funds you'll need. When you arrive at the destination, will you be eating out at nice restaurants? Seeing shows or attending sporting events? And don't forget to account for the souvenirs you'll want to pick up. Once you have a set budget, stick to it and avoid overspending while vacationing.
    • Set a monthly savings goal. Based on your trip budget and the amount of time before the vacation, determine how much you'll need to save every month to build up your trip fund. If you're travelling abroad or going somewhere with high food and lodging costs, this figure might be pretty high. If it's so high that saving is unrealistic, consider rescheduling the trip for a later date.
    • Use your planning as a teaching opportunity and talk to your kids about savi ng, budgeting and spending. If your kids are old enough, engage them in the process and set a goal for them to save a small amount to contribute to the experience.
    • Start saving. It's never too early to start saving for travel - especially if you make frequent trips or travel far. Some people prefer a big jar on the kitchen counter, while others will open a new savings account, or utilize short-term investment channels. Either way, pick a method that works for you. And don't be embarrassed to ask for help - family or friends might have creative ideas to help, and financial and banking professionals can advise you on how to meet your goals.

    "Vacations and spending time with family and friends create life-long memories. Planning, control and consistency are key, whether the goal is a vacation or a new car," added Lewis.

    About BMO Financial Group
    Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris BankSM is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.

    BMO Harris Bank is a trade name used by BMO Harris Bank N.A. Banking deposit and loan products and services are provided by BMO Harris Bank N.A. Member FDIC. Brokerage products are offered through Harris Investor Services, Inc. (HIS), a registered broker/dealer, member FINRA/SIPC, and SEC-registered investment advisor. Insurance products are offered through Harris Bancorp Insurance Services, Inc. (HBIS). Investment banking services are provided by BMO Capital Markets Corp. (BMOCMC) and BMO Capital Markets GKST, Inc. (GKST), a Municipal Bond Dealer and member FINRA and SIPC. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc. (Harris SBSB), an SEC registered investment advisor. Family Office Services are provided by Harris myCFO, Inc. Investment advisory services are offered by Harris myCFO Investment Advisory Services LLC (Harris myCFO), an SEC-registered investment advisor and wholly-owned subsidiary of Harris myCFO, Inc. Stoker Ostler Wealth Advisors (Stoker Ostler) is an SEC-registered investment advisor. Investment advisory services to institutional clients are provided by Harris Investment Management (HIM) or its wholly-owned subsidiary HIM Monegy (Monegy), SEC-registered investment advisors. Products offered by HIS, HBIS, BMOCM, Harris SBSB, Harris myCFO, Stoker Ostler, HIM, and Monegy, which are affiliated companies and wholly owned subsidiaries of BMO Financial Corp.,: Are not insured by the FDIC or any Federal Government Agency, not a deposit of or guaranteed by any Bank or Bank Affiliate, may lose value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Not all products and services are offered in every state and/or location.




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    Please review the privacy and security policies of web sites reached through links from BMO web sites. This information is not intended to be tax or legal advice. This information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.