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Budgeting for Vacation

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Can you believe summer is right around the corner? For most, taking a summer vacation is one of life’s most enjoyable pleasures. Although a perfect summer vacation might vary from person to person, it’s easy to budget as long as you set a realistic goal and make small sacrifices in your daily life to stick with it. Planning ahead is a big part of budgeting for a stress-free and affordable trip. Follow these tips on budgeting for your vacation, so you don’t spend more than expected.
How Much to Save
Before booking, determine the price range you are willing to spend. A summer adventure doesn’t have to put you into a large amount of debt. Figure out your funds beforehand, to stay afloat. If your trip will cost around 3,000 and you plan to leave in 6 months, you’d need to save 500 a month. Determine how much you’ll need to save and how long you’ll need to hit your goal.
Choose a Destination
Depending on the amount of your budget, be sure to research a variety of destination spots. If you’re dreaming of sandy beaches and clear blue water, but a trip to Aruba isn’t a realistic budget choice, try taking a look at somewhere more reasonable like the Gulf Shore.
Research
Once you’ve looked at possible destinations, it’s time to research your lodging, excursions, and entertainment. To stay within your budget, be sure to add in your food, gas, rental car, any tours, and extra activities. Be realistic for how much the trip will cost and leave a little wiggle room for some unexpected expenses.
Stay Organized
There are plenty of ways to organize your budget until your day of departure. Some tools, such as excel, can help keep your information organized and easy to read. If you’d like to play around with your budget, to increase or decrease, you can easily change the amount over time.
Check for Discounts
Are you an AAA member? A senior citizen? Call or search online for any additional discounts with airlines, hotels, tours, and rental car companies. If they’ve started promoting a special rate the day after you’ve booked, see if they can match the price. It doesn’t hurt to ask!
Setting a budget for vacation is the most important part of your planning process. You must determine where you can go and what you can do based on how much you have saved. Your budget will help you stay on track and reaching your goal will be that much more rewarding! Now it’s time to plan your trip!

Special to The Colletonian (1871 Posts)