Why Camping Makes the Perfect Budget-Friendly Summer Getaway

For families and solo adventurers alike, camping remains one of the most affordable ways to enjoy summer without compromising on experience. With a tent, some supplies and a bit of preparation, you can unplug from the daily grind and reconnect with nature—whether at a lakeside campsite, a wooded state park or even a hidden gem near home.

Compared to airfare, hotels or theme park tickets, camping can dramatically reduce the cost of travel. Sites typically range from $0 to $30 per night, depending on location and amenities. Many public lands offer free dispersed camping or very low fees and entertainment is built-in: swimming, hiking, fishing, stargazing and campfire stories don’t require extra spending.

Camping also allows you to control your food budget, reduce reliance on dining out and reuse gear year after year. For Ideal Credit Union members looking to make smart financial decisions while still enjoying meaningful experiences, camping represents a vacation option that’s both fun and financially friendly.

What Is an Escrow Account?

An escrow account is a financial arrangement where a neutral third party holds funds or assets on behalf of two parties involved in a transaction until specific conditions are met. In the context of home buying, escrow accounts serve two primary purposes:

1. During the Home Purchase Process: An escrow account holds the buyer's earnest money deposit, ensuring that funds are securely held until the transaction is completed or terminated.
2. For Ongoing Homeownership Expenses: After purchasing a home, lenders often establish an escrow account to manage and disburse payments for property taxes and homeowners insurance. This ensures that these critical expenses are paid on time, protecting both the homeowner and the lender from potential defaults or lapses in coverage.

Buying a home is more than finding the perfect property. It’s a multistep journey that can take several months to a year, depending on your situation. From the moment you begin prepping your finances to the day you get the keys, each step requires time, patience and thought.

Typically, homebuyers spend four to six months navigating the full process. This includes financial preparation, mortgage preapproval, house hunting, submitting offers, underwriting and finally closing. Even once your offer is accepted, it typically takes 30 - 45 days to close the deal.

What Is Home Equity?

Home equity is the portion of your home’s value that you truly own. It's calculated by subtracting the amount you still owe on your mortgage from the current market value of your home. For example, if your home is worth $400,000 and you owe $250,000, you have $150,000 in home equity. This equity grows as you pay down your mortgage or as your property appreciates in value. It’s a valuable financial asset you can tap into, particularly when you’re ready to buy your next home.