How to Make a Vacation Budget

Saving the money for a vacation getaway shouldn’t make you stressed out, and it won’t when you follow some good budgeting advice and plan things in advance. Consider these helpful tips for putting together a reasonable vacation budget.

Determine the Dates and Destination

boatVacation budgeting requires an understanding of how much you’ll be spending, which is why the first things to think about are where and when you’ll be traveling. These two huge factors can greatly impact the amount you need to set aside in addition to the cost of food, lodging, entertainment, and travel expenses.

Estimate Travel Costs

Airfare is a significant expense, but isn’t the only travel cost to consider. For example, at your destination, will you be renting a car or taking public transportation? Do research and compare the quality and price of all your options before making a final decision.

Tally Other Costs

You need to eat, obviously, and many of the things you’ll want to do probably cost money. Decide on and begin researching what you will do each day, including attractions you want to visit and places you want to eat at. Also make sure to include lodging expenses. Remember, the more accurate your itinerary is, the stronger your budget will be.

Build Your Vacation Budget and Try Lowering Costs

Once you have a good idea about all of the items above, put together a sheet detailing all your expenses to determine your grand total. Then, see if any of the expenses can be reduced. Some tips for reducing costs are:

  • Bundle – When you make reservations, inquire to see if you can get any package deals. For example, there are discounts for car rentals or travel tickets, free shuttle rides, or passes to get into multiple attractions.
  • Prepare Your Own Food – Eating out is costly. Renting a room with a fridge, buying easy to make foods, and putting together your own meals can save you plenty of money over the course of a multi-day vacation.
  • Avoid Unnecessary Expenses – If a relative or friend lives in the area, stay with them if you can. Otherwise, limiting your luggage to what your airline allows for free is a quick way to save a few bucks.

As you can see, building a vacation budget is mostly planning. So once you get started, remember some of these money saving tips to have an affordable getaway in the near future.

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