So, you’ve decided where you’re going on your next vacation. Or, maybe you haven’t. In that case check out our post Choosing a Travel Destination. Budgeting for your vacation is important, but it’s not as hard as you would think. We have some tips and tricks to help you with budgeting for travel.
Small Things Add Up
You don’t have to change your lifestyle to save a little money for travel. In fact, there are some small changes that can really help. For instance, take your lunch to work 2-3 days a week. Put the money you would be spending on lunch in your travel fund. By only eating out a couple times a week you are still allowing yourself a treat, but saving at the same time. The same principle applies to that morning cup of coffee you pick up on your way to work. We bought a small espresso maker and now we make our own. These two small changes add up to big savings over time.
Envelope Saving
An envelope saving system is a great way to stash money for your travel fund. At the end of each day put any leftover cash in your envelope. This includes the money you saved by taking your lunch and making your own coffee. Put the amount you would have spent on either or both of these things and watch your travel fund grow!
Teach Your Kids To Save
If you will be traveling as a family make sure to get the kids in on the saving fun. Purchase a coin sorting and counting machine. Amazon has several inexpensive models. Search digital piggy bank and you can find the one that best fits your needs.
Getting the kind involved helps teach them basic money skills, how to save money, and how to appropriate funds. And, it’s fun!
Payment Plans
Most travel companies will allow you to place a small down payment and make monthly payments until a set time before your trip. This helps if a monthly payment is easier for you than trying to save a lump sum. It creates a set amount for you every month, which can be beneficial when you are traveling on a budget.
It’s All In The Details
When booking your vacation make sure to check all of the details. Small fees that go unnoticed can add up quickly. If you don’t live near a major international airline hub, you will probably need to get a flight to the nearest one. This is not included in most vacation packages.
Check for taxes and hotel fees. These can be pricey and take a bite out of your travel budget.
Find out if any meals are included in your trip. If so, take advantage of these. They can really help you save some money. And, on the flip side of that, if you’re taking a cruise make sure to find out which food and drinks are considered upgrades that you will need to allow for in your budget.
Souvenirs
All those cute little trinkets that you want to bring home for friends and family (and yourself, of course) add up quickly. Set an amount in you budget and add some extra.
Remember the coin counter you got for the kids? This is where that money will be used. They can purchase their own souvenirs.
Discounts
Ask about discounts! Companies do not volunteer this information. However, there are often discounts available on travel for military, senior citizens, first responders, and sometimes teachers. These discounts are not advertised. You have to ask, sometimes more than once.
Also, be sure to ask your employer if there are any corporate travel codes available to employees. Some school districts have them for rental cars and even hotels. A lot of corporations are more than willing to share with their employees.
Gift Cards
Whether you’re embarking on a coast to coast road trip, a weekend getaway, or an international adventure you can find discounted gift cards to fit your needs. Do you have a Target Red Card (debit or credit will work) or a Sam’s Club membership? You can purchase restaurant, airline, Disney, Uber, and other travel related gift cards for less than face value. This can add up to some great savings. And, it’s like you’re pre-paying for parts of your trip. Bonus!
No matter what type of vacation you are planning there are lots of ways to save. And, we’re here to help you with tips and tricks to keep your travels within your budget.
If you want more money-saving tips and tricks, check out our video podcast Budgeting for Travel.
And, remember, break the monotony, not the bank.
