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Budget Vacation/Travel Tips

Budget Vacation/Travel Tips

Get away without breaking the bank!

Everyone deserves a vacation, but it’s not worth going into debt for! Here are some tips and tricks to travel smarter so you can have the vacation you deserve.

Save up! It’s important to save up money prior to going on vacation. How much you need to save depends on where you want to go. Do your research and figure out how much to expect for travel expenses and lodging. Keep in mind that if you are able to travel during the week, flights and accommodations will cost less.

Set a daily spending limit.  In addition to setting an overall budget, it’s a good idea to stick to a daily spending limit, as well. Try the Dave Ramsey cash envelope system for each vacation day to make it seem less overwhelming. If you have extra one day, carry it over to another day.

Pay with cash or a debit card. Research has shown that people spend more with a credit card than they do when paying in cash. Paying with cash or a debit card will make you more aware of how much money you can spend. Of course, in case of an emergency, it’s always a good idea to have a credit card.

Cook some of your meals. An easy way to cut back on expenses on vacation is to cook a few meals. We know part of the fun in going on vacation may be to get away from the kitchen, but a few easy meals in will allow you to spend money elsewhere.

Spend money on experiences. Buying souvenirs can be tempting and will add up quickly, but spending money on experiences will build memories to last a lifetime. Plan your activities out ahead of time so you can enjoy your much-needed stress-free vacation.

Book in advance. Typically you can get a better deal the farther out you book. Just keep in mind, it’s a good idea to look at the cancellation policy just in case something comes up.  

Don’t go on vacation without first creating a budget and a plan or you’ll feel the burn long after summer ends. Hopefully these tips and tricks will allow you to plan your next vacation and you won’t have to worry about any bills following you home.