How to Budget a Vacation

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Planning to go on a vacation is always an exciting experience – after all, it’s about looking forward to a most likely very fun and, depending on the vacation, could be very exciting or very relaxing. Vacations are often especially looked forward to those folks who work hard and long hours that just need a break from the daily grind and the routines that tend to get monotonous after a while. It doesn’t matter whether you are an executive, a stay-at-home mom, a working-class woman – everyone needs a vacation at some point! It’s a great way to replenish your energy and spend some uninterrupted quality time with loved ones. However, depending on your destination and means, vacations can get a bit pricey if you’re not careful and don’t plan ahead. By comparing all financial possibilities and creating a budget beforehand, it’s possible to have fun without breaking the bank and blowing all your hard earned money! You can budget a vacation while planning ahead to make the most of your time and money.

Here are some tips on how to budget a vacation:

– Decide where and when you are going to take a vacation. Those two factors are especially important for our next step – creating a budget – for it will reveal more details on how pricey the vacation could be. For example, if you plan a Disney World vacation in the middle of summer, airfare and hotels will be the most expensive then because it is the peak season to go there. It would be cheaper for you to go in the more off-season times of the year (fall, winter) as the prices of airfare and hotels are more likely to be the cheapest then.

– Create a budget. Once you know where you are going and when, you can get more of a feel of the numbers. Beforehand, make sure to have at minimum a maximum price that you can afford for the vacation in order to plan around that. Be sure to also set aside extra funds just in case of an emergency.

– Plan early. You can get the best deals for transportation and lodging if you do it months in advance.

– Look for deals at the last minute. Despite the plan early tip, it’s not always feasible for people to do that. You can take advantage of travel deals by paying close attention to last minute deals. That said, this is only ideal for those who are flexible in their travel based on where and when you go.

– Pack lightly, especially if you plan on flying. Many airlines charge for checked baggage; to make the most of your budget, if you can, try to pack a carry on only to forgo that extra $50 each to check in your bags.

– Stay at a friend or family’s house close to your destination if you can to save on lodging costs. Hotels can be quite pricey these days!

– Save on food by getting a hotel room that has a microwave/oven and refrigerator and purchase food and drink items from a nearby grocery or convenience store for meals. Eating out adds up and ends up taking a big bite out of your budget. Instead of splurging on food, you can use that saved money for other aspects of your vacation.

(Photo by Paula Bronstein/Getty Images)


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