3 generations, 1 great vacation

One father puts it this way: "My two favorite things are being with my kids and grandkids and traveling. So, I'm always looking for chances to do both at the same time, and I've found that some of the most fulfilling moments of my life have been on those family trips."

Vacation time can be an important way to maintain close family ties. Grown children move away for work, kids get locked into busy schedules, grandparents develop active lives in retirement, and suddenly, it's all too easy to feel you're losing touch.

That's why many families choose to make special occasions out of their moments together by organizing vacations that allow them to reconnect as a family, whether those trips are modest and close to home, or something on a larger scale.

As you begin to lay plans for your own family vacation, consider these tips.

Multigenerational travel is a popular vacation option for many families. It gives family members a chance to do many important and memorable things together such as learn about new places, recharge and share values and wisdom. Many families may also find that when they're outside their everyday environments and having new experiences together, they open up more and are able to build closer relationships with one another, having conversations that they wouldn't otherwise have at home.

Those experiences can run the gamut from camping in a national park to touring another country. No matter the destination, traveling with a multigenerational group is an exercise in logistics — and economics. As you plan your next big family trip, here are some questions that can help give you and the people you love the most rewarding experience at the most reasonable cost.

"Family travel is like a team sport. Be sure your plans are appropriate for everyone who's coming along," advises Kyle McCarthy, editor of Family Travel Forum (myfamilytravels.com). "Remind them that travel today may be challenging. Everyone will have to come together, stay positive and behave well." As you work with your family to outline your trip, respect everyone's needs and tastes, and in cases where there are differing opinions, try to reach compromises. Consider coming up with several trip options. Then solicit input from everyone coming along — including the kids, she suggests.

Options like all-inclusive resorts offer a variety of activities and dining choices — and often childcare — at a fixed price. If you prefer a less structured vacation, look for ways to incorporate activities for all ages. Ask friends for suggestions or consult a travel advisor who specializes in multigenerational family vacations.

The first rule of keeping travel costs in line is to set a budget based on what you can realistically expect to pay for the places you want to go. As anyone who travels knows, the price range for a single destination can vary widely based on how you want to travel. Popular family destinations such as Orlando, Florida, can run approximately $156 per person per day for a seven-day vacation at select Disney All-Star Resorts.Footnote ¹ For a VIP experience led by a private guide for a party up to 10 (including infants), add another $3,000 to $6,000.Footnote ² Similarly, for a South African safari, you can expect to pay, after airfare, from around $200 per person per day for a three-star safari lodgeFootnote ³ to $1,500 per person per day for a five-star experience.Footnote ⁴

In setting a budget for your trip, bear in mind that there are ways to avoid overspending. First, determine your destination and create a list of what's important for you to do there. Then weigh your travel options and cut back on the less important things. One tip for keeping costs down is to look for alternatives to hotels and for nontraditional means of transportation. For example, home-sharing apps might help reduce costs that would otherwise be spent on a hotel room. Also using a ride-sharing service may cost significantly less than renting a car. The digital age makes customizing a trip to fit specific needs easier than ever before.

"Are you responsible for all of the travel and lodging? Should individual families be responsible for their own airfare? Who pays for meals? Lift tickets? Theme park passes? A lack of clarity about these details can undermine the sense of family unity that a multigenerational trip is intended to create," says Valerie Galinskaya, managing director and head of the Merrill Center for Family Wealth™. "If your travel group is sizable, it's essential to determine financial responsibilities up front." Galinskaya recommends sending each adult a detailed email spelling out the costs each family member will cover.