Memorial Day weekend marks the unofficial beginning of summer vacation season.
Although gas is cheaper right now, the recession has caused some families to rethink their travel plans.
Many Americans are opting for the cheaper "staycation," simply enjoying time off at home.
Those who are taking a trip will pay about the same as last year for rental cars and hotels. But travelers will pay more for gasoline since the price is still up 50 cents a gallon more than last year.
Plane tickets are also more expensive than last year.
"Domestic air fares have gone up a little over 10 percent and continue to climb. And international air fares have gone up anywhere from 30 to 50 percent," explained travel expert Rick Seaney, co-founder of Farecompare.com.
When searching for the least expensive plane ticket, experts say to keep this in mind -- the earlier you book your flight, the cheaper it will be.
Also, when comparing prices remember that some airlines charge hefty fees for luggage at the airport, so be sure to purchase your ticket Tuesday afternoon.
"The reason for this is airlines typically file their sales on Monday night," Seaney explained. "And during the morning, all the other airlines scramble to match. So just after lunch Eastern time is the perfect time to shop, where you have the maximum number of cheap seats."
On the up side, if you're bound for Europe, your money will stretch further than in past years. In the past six months, the dollar has increased 10 percent against the euro and 5 percent against the pound.