If you’ve got the itch to take a vacation, are you afraid it will cost you an arm and a leg?
For many individuals (couples, families for that matter too) looking to travel, the fear of spending too much money can hinder all the proposed fun.
That said you should not let money (or a lack thereof) stand in your way from getting away ever now and then. Although you never want to raid the money destined to pay the mortgage, rent, health insurance, and car payments etc. you can divide up the funds so that you can still get away for some deserved R&R on occasion.
Watching your money if you are in or nearing retirement is important too. Although many dream of traveling the world when they are retired, it still is prudent to not go overboard financially.
So, are you going to be able to plan your next vacation without breaking the bank?
Be Wise with Your Funds
In order to get away and still feel good about your overall money situation, keep the following tips in mind:
- Budgeting – For starters, are you good when it comes to budgeting your money? If not, heading into 2017 would be a good time to start learning how to better oversee your funds. Start by looking to see where you may be overspending, especially in areas that you might end up calling frivolous (see more below). For example, are you enjoying too many of those lattes on your way to work in the morning? How about too many dinners out on the town? Food and entertainment costs are but two of the areas where you can tighten your budget without being a hermit. Take the time in the New Year to draw up a budget (if you don’t already have one), seeing where savings are possible.
- Destination – Where were you thinking of heading to for vacation? If you do have to be a tad careful with those dollars, it doesn’t necessarily mean a venture to Europe; travel to Brazil, maybe a jaunt Down Under to Australia would be out of the question. You can still visit any of those areas (or of course others) by simply scaling back how you get there (see more below) and what you do once there.
- Transportation – Unless you’re going somewhere with driving the easiest option, you are most likely getting on a plane or hopping on a cruise ship. In either case, you’re going to end up spending more money nine times out of 10. That said it doesn’t mean you can’t find some savings before you ever step foot outside your home. Look to see if some airlines, cruise ship liners etc. are offering special deals. Better yet, working with a travel company can lessen a lot of the legwork for you. As always, make sure you get all the specific details so that you don’t end up paying an exorbitant amount of fees etc.
- Entertainment – Lastly, while still having fun, look to see if you can scale down some of your planned entertainment while on vacation. You can still have fun while not going to the most expensive restaurants, hitting the costliest clubs etc. Oftentimes, there are plenty of cultural activities you can do in towns that are free or of minimal charge.
Never Too Early To Start Planning
Even if you get through this immediate vacation without too much in terms of money issues, what about the next trip?
One of the best things you can do is start planning for that next trip as soon as the current one ends.
As mentioned a little earlier, see where everyday spending costs can be cut, giving you more money to get away down the road.
In doing so, you’ll feel better about your financial situation, all the while knowing you have a trip or two to look forward to.