5 Tips to Plan Your Vacation Budgeting

By on May 24, 2015
Vacation Budgeting

5 Tips to Plan Your Vacation Budgeting

Vacation Budgeting

As the days get longer we begin to think with anticipation of our next big summer vacation. But with the sudden demise of many of the smaller holiday airlines and the price of gas expected to rocket again this summer, vacation budgeting is more important than ever. You don’t have to give up on your summer vacation; you just need to plan to get the most bang for your vacation buck. Vacation budgeting is more than just getting a cheap hotel or flight. Here are a few tricks of the trade to help you plan your vacation budgeting so your family can enjoy all the fun and none of the headaches of a summer family holiday.

Plan Early

Planning ahead, especially with vacation budgeting can mean getting more out of your trip. The general rule of thumb is to allocate 8-10% of your total budget for a vacation. Look at travel costs, hotel costs and the cost of your stay when planning a trip. As long as your plans include only one of the three to be more costly, you can save on the vacation as a whole.

Do The Research First

With the world at our fingertips, it only makes sense to do the research before you head out on that summer vacation. Now would be a good time to check out books about the history of the region, read travel blogs about the country or area you will travel to or just research local places of interest. Knowing the history of a foreign city makes it all the more interesting when walking down its streets this summer. Knowing those cobblestone streets in London were once walked upon by Roman citizens lends them a mystery that is seldom matched.

Budget For A Daily Allowance

After you have planned your vacation budgeting for the pre-paid basics like airline tickets and hotel rooms, make a daily allowance and stick to it. This is particularly true when travelling in foreign countries because the money will not seem real. Easy trick: stick to cash and allocate a day’s allowance to individual envelopes. Stash the rest of your envelopes in the hotel vault, and just take that day’s allowance with you. Credit cards are best saved for special emergencies.

Track The Financials

You can look these up ahead of time or add them as an app to your phone. If you are travelling out of the country, learn the exchange rates, especially if you plan to shop. Even if staying in the US, knowing your Debit and ATM daily allowances will help you to plan. Being aware of credit card limits, hotel and airline refund policies and other financials that can limit your fun will help you to avoid embarrassing moments that can ruin a vacation.

Pack Smart

When you pack, be thinking of multiple outfits from each piece. Don’t count on buying what you need when you get there, you don’t know the bargain stores in foreign cities. Also, when packing to head home, don’t fill the suitcase with expensive goodies for friends and family. Simple little items will mean just as much and won’t cost you luggage fees. Vacation budgeting continues while you are on vacation too, so limit your purchases so you don’t come home with credit card statement shock.

Vacation Budgeting Adds Fun

Whatever you plan to do for this coming summer, your vacation budgeting plans can help to ensure you have a great time. Your vacation can include a road trip to a new part of the US, a flight to a foreign country or camping in one of the great National Parks. No matter what it is, vacation budget planning will give you a vacation that is satisfying, adventurous and still within your budget.