How To SUCCESSFULLY Budget for A Vacation

Monday, May 20, 2019

How To SUCCESSFULLY Budget for A Vacation

Tis the season for vacations which means people are stressing out about how to quickly save up money.  But how do you know how much money to actually save for a vacation?  And how do you know what money you plan to spend on what activities? Well, you have to get a little organized.  So I'm going to share with you some tips that if you follow, you can be successful in planning and budgeting for a vacation. 
Decide on a Budget
So for the first step you want to decide what you can afford to spend and what amounts your vacation basics will cost.  Figure out an estimate for airfare, gas if you're driving, train, hotel stays, and anything else you MUST HAVE.  Don't include the fun stuff yet.   Also, this is the time to look for ways to save already.  Do you have a relative you can stay with 1 or 2 days of your trips to cut back on costs?  Can you get a smaller hotel room with just 2 beds and have your family double up? Is it cheaper to fly or drive?  Do you really need to check your baggage or can you fit all your things in a carry on bag? 

Save Up Ahead of Time
It goes without saying you should NEVER go into debt for a vacation. If you have to, then you DEFINITELY shouldn't be going on one.  A vacation is a luxury.   If you need a getaway but don't have the money look into free day trips in your area. 

If you do think you can afford it, start saving often and early.  Put money away from each paycheck into a vacation fund or a vacation envelope.  Start doing things to earn extra money like working overtime, selling things, or cutting back on expenses (36 things to cut back on here!) from your budget

Plan Your Days

When you plan out a handful of activities and arrangements for your vacation, you are preventing impulse buys and decisions to pop up.  Of course, it's totally fine to just be whimsical and not following a schedule the entire time but it doesn't hurt to do a little pre-planning of activities.  Determine what meals you'll eat out for, which ones will be made with your own ingredients, what activities you'll do which days and how much they'll all cost.  Now some people loop their travel in with something major like an event they're attending or even plastic surgery.  Yes, that's right you can go to a place like Farrior Facial Plastic Surgery in Florida and enjoy a vacation away from the responsibilities of home as you heal.  That's another reason why I tell people it's a great idea to combine things that need done.  If you are travelling out of town for a friend's wedding, and you have extended family that you've been meaning to visit and they just so happen to live where the wedding is, you may as well kill two birds with one stone and get your visits with them in around the timing of the wedding. 

Add Up the Fun
Now you need to get an estimate on how much the dining out and the other activities may cost.  This should motivate you to save up money even more.  Or maybe you'll realize you need to cut back and look for some free activities. 

Stick To Your Budget
When you go on your vacation, commit to using envelopes for different categories like activities, food, cab fare, etc. On the outside of the envelope keep track of what you spend on a little handwritten ledger.  This lets you know what you have left and if you find you are running out of money because you didn't stick to your original plans, you'll just have to re-work your plans for the remaining days of your vacation. 

With a little pre-planning and commitment, you can enjoy a vacation WITHOUT getting into debt and ruining your progress with your finances. 

How do you save money on vacation? 

How To SUCCESSFULLY Budget for A Vacation

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1 comment:

  1. Thanks for sharing these tips. Have a great week.


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