Travel
Vacation Budgeting
First, decide what kind of vacation do you really want? Do you want to sightsee as much as possible? Or would a few days of doing as little as possible be more appealing? Take the time to really think about this, or you’ll end up with a vacation you don’t really enjoy. If you have a family, ask them for input and work ahead of time to find a way so that everyone gets at least a little of what they want.
Plan in advance so you’ll have time to save money for your trip. The better you
plan your budget, the better your vacation. You’ll find our vacation planning worksheet
at the end of this guide. Use it to help you develop your vacation spending plan.
If you have kids, make sure they have an opportunity to participate in the planning.
Together, you can research destinations and costs. You can set target goals for
the amount you’d like to spend per day, for certain activities as well as your whole
trip.
Kids may help look for discount coupons, Internet specials, or even in weighing
the costs of one type of outing over another. Once you have a clear idea of what
you plan to spend, start a vacation savings fund and set aside a certain amount
each month or each paycheck. Even a small amount can go a long way if you plan carefully.
Membership clubs like AAA, Costco Travel Club and Sam’s Travel Club can often save
you money on hotel stays, car rentals and complete vacations. The membership fee
for one of these clubs is usually offset by the savings you’ll achieve.
Consider off-peak travel if possible. Go to a popular winter destination in the
summer, or vice versa. If your schedule allows it, avoid traveling during school
breaks or holidays. Not only will you likely save money, but your destination will
be less crowded and you’ll likely get better service and accommodations..
Shopping is the most popular domestic trip activity, and is included in 30 percent of all domestic trips. In total, that’s 342 million trips with shopping sprees. – Travel Industry Association www.tia.org. If shopping is your idea of recreation, create a separate shopping budget and research the types of stores and items you’re hoping to find ahead of time. Otherwise your “bargains” may end up being very expensive once you figure in the other costs of your trip.
