At this time of the year, many of us are looking at booking trips for the summer.
We’re eager to get away, enjoy a break, and a change of scenery. But vacations are expensive, and this year, perhaps more than ever, most of us are either looking for ways to save money, or avoiding trips because we are worried about our finances. The good news is, you don’t necessarily have to give up your vacation because money is a little tighter than usual.
As long as you set a strict budget, and stick to it, you still can enjoy a relaxing trip.
Take a Good Look at Your Finances
Before you even start looking at vacations, take a good look at your finances.
Ask yourself what you can afford to spend on a trip, and what you’d be willing to sacrifice if it meant you’d have a little more to spend and a few more options. The key to setting a realistic budget is being honest with yourself about your finances, how much you can save, how long it will take, as well as what you are and aren’t willing to give up.
Determine a Total Budget
Once you’ve looked at your finances and considered things like earning extra money, you should be able to come up with a total budget fairly easily.
When deciding on this number, make sure you aren’t leaving yourself short, risking debt, or not leaving enough spare cash in your accounts for unexpected emergencies.
Break it Down
One of the best ways to make sure you can stick to your budget is to break it down. Instead of just having a total amount, break it down, so that you know how much you have to spend on transport, accommodation, and spending money.
Within these budgets you could break it down further, to include things like travel to the airport and food while you are away.
Shop Around for Accommodation and Travel Options
Booking a package deal through a big travel operator is typically far more expensive than booking flights and accommodation separately, even if it is more convenient. Look at the chunk of your budget that you’ve assigned to travel and accommodation, and shop around to find options that fit.
When it comes to booking flights, Google Flights can be useful, because it gives you a great way to compare prices from different airlines and at different times, but bear in mind not all travel providers use Google Flights, so it’s still worth looking directly at airlines too. You can learn more about the pros and cons of Google Flights here.
Consider the Total Cost
At face value, booking separately can seem much cheaper than booking a package deal. But remember to factor in things like travel from the airport to your accommodation, luggage, and insurance, which may be included in the cost of package deals.
Break Your Spending Money Down into Days
Once you’ve booked accommodation and flights, you can check to see if your original spending money budget is still available, or even if you’ve got a little extra. Then, break it down into days, so that you know exactly what you can spend each day.
Keep Checking in with Your Budget
Sticking to your budget often gets harder once you arrive at your destination. Just remember to keep checking in and make changes when you need to. If you overspend one day, try to spend less the rest, or recalculate your new daily allowance by dividing what’s left by the number of days left in your trip.
Money worries are one of the leading causes of stress. Unfortunately, when we’re stressed out and we need a vacation or some TLC more than ever, it’s typically the self-care luxuries and trips that are cut. Instead of avoiding travel altogether, take a look at your budget to see what you can afford. With careful budgeting, you might be able to enjoy a few days away even on a tight budget.
