• Home
  • GET THE BOOK
  • Start Here
  • Blog
  • Free Resources
  • Shop TBM
  • Courses

The Budget Mom

Real Women. Real Life. Real Finance

  • Home
  • Products
    • Live Rich Planner
    • Budget By Paycheck
  • Blog
  • FREE RESOURCES
  • COURSES
  • GET THE BOOK
  • Shop TBM

A life you love on a budget you can afford.

Here on TBM®, I provide you with simple, easy-to-follow solutions to help you budget your money, pay off debt, save more, and crush your financial goals. But more than that, I give you the tools to start doing the things that matter most to you, on a budget that actually works!

  • Home
  • Products
    • Live Rich Planner
    • Budget By Paycheck
  • Blog
  • FREE RESOURCES
  • COURSES
  • GET THE BOOK
  • Shop TBM

5 Steps to Budget for Your Next Vacation

April 22, 2021
SAVE MORE

Share
Pin78
Share
Tweet
Email
78 Shares

Have you been wanting to plan a vacation but are worried you can’t afford it? Learn five steps to budget for your next trip.

 

After spending the majority of your time at home for over a year, you’re probably more than ready to take a vacation. But let’s face it — taking a vacation can get pretty pricey.

The average vacation for one person adds up to $1,145. So for a family of four to take a trip, you can expect to pay over $4,500 in all. That’s not even counting the unexpected costs that will inevitably arise when you’re traveling. 

Sometimes, taking a vacation can feel like a luxury that you can’t afford. But it’s important to take time away to unwind occasionally. And if you plan ahead, funding a nice vacation is totally doable.

5 Ways to Budget for a Vacation

I’m a big believer in planning for your big expenses. When you start preparing for a big trip in advance, you ensure that you can pay cash for it and don’t have to rely on credit cards. 

Let’s look at five steps you can take to budget for your next vacation or trip. 

Featured Post

5 Ways to Manage Your Summer Vacation Expenses

Read Post

1. Choose your destination

The first step is to decide where you want to vacation. That’s because your location will largely determine how much you save for the trip. You’ll need a different budget for a weeklong vacation to Hawaii than you do for a weekend road trip. 

If you’re not sure where you want to go, but know you don’t want to spend too much, try Googling “Most affordable family vacations in the U.S.” This can help you come up with some budget-friendly vacation spots your whole family will enjoy.

Once you’ve chosen your destination, you’ll want to decide on a date. Keep in mind that some locations will be more expensive to visit during peak tourist times. So if you’re able to visit during the off-season, you might be able to save some money. 

2. Come up with a savings goal

Now that you know where you want to go, it’s time to set a savings goal and start planning for how you’ll meet your goal. Ideally, you’ll start planning this well in advance to give yourself plenty of time to meet your goal.

The best way to do it is to decide how much you want to save and then work backward to reach your goal. For instance, if you’re trying to save $2,500 for a trip, and you have 12 months to save, then you could plan to save roughly $200 per month for the next year.

If you want to make sure you stick to your plan, then I recommend setting up a separate savings account for your trip. Look for an account that doesn’t charge any fees, and start transferring money to save for your trip. Ideally, this will be an account you won’t see every day, so you won’t be tempted to spend the money.

Once you know your monthly savings goal, it’s a good idea to set up an automatic transfer every month. That way, you continue to save without having to think about it.

How do you figure out how much to make your savings goal? This is where a mock budget comes in.

Start writing down everything that comes along with trips – airfare, rental car, hotel, food, fun, shopping, etc. Start researching the destination you're wanting to travel to and figure out what the prices are looking like for each different category. From there, you'll have a rough number to play around with that will give you a good idea on how much you will need to save.

3. Start looking for deals

Once you know where you’re headed and how much you plan to save, it’s time to start looking for deals on trips. I recommend looking for all-inclusive packages from places like Costco Travel, Orbitz, or Travelocity. 

It's important to note that not all destinations offer all-inclusive packages, and sometimes they may not be the best bang for your buck. Be sure to do research and explore all of your options so you ensure you're getting the best deal that's available.

When you purchase a package, your biggest expenses like airfare and lodging are covered. You may even find a deal that covers transportation as well. This will save you from having to search for the lowest deals on airfare and hotel rooms.

Look for a package that fits within your savings goal so you don’t go over budget. For places like Mexico and Caribbean countries, I highly recommend checking out the all-inclusive vacation packages that include drinks and food.

This will save you so much money on food and drinks throughout your stay. Of course, all-inclusive packages can vary greatly, so make sure you understand exactly what’s included first. 

Featured Post

How I Saved Money and Paid Cash for My Cabo Vacation

Read Post

4. Budget for activities

Once you have your airfare and lodging set up for your trip, you still need to plan for what you’ll spend on activities once you get there. For instance, do you plan to visit any museums or parks? Or do you plan on doing any more expensive activities, like scuba diving?

My best recommendation is to budget for these items, but wait until you get there to purchase them. You may be surprised to find that you don’t actually save that much money by buying them ahead of time. 

5. Don’t forget the extra expenses

And finally, don’t forget about all the extra little expenses that come with taking a vacation. Do you have to pay to have your pets boarded for a week while you’re gone? If you don’t have an all-inclusive trip planned, then you’ll also need to account for food while you’re away.

And some activities will make you pay for photos of your outing. For instance, when I took a trip to Cabo, some of the adventures didn’t allow you to bring your cell phones or take pictures. So you may want to set some money aside for photos as well. 

The Bottom Line

After this past year, we’re probably all due for a vacation! But in all seriousness, it’s so important to take time to get away from your daily life. And when you plan ahead, come up with a budget, and save for your trip, taking a vacation is a very doable, guilt-free expense.

Do you plan on taking any trips this summer? If so, where do you plan on going and when? Let me know in the comments!

Share
Pin78
Share
Tweet
Email
78 Shares

Filed Under: SAVE MORE, Saving Tips Tagged With: BUDGET, BUDGET TIPS, VACATION, VACATION BUDGET, VACATION SAVINGS

Previous article:
« How to Deal with Debt in Collections
Next article:
How to Support Small Businesses Without Spending a Penny »

Comments

  1. Renea says

    April 22, 2021 at 11:30 am

    Its Nana’# turn on picking the family vacation and she wants to go to California to see “the big trees.” That’s as far as we have gotten so far. Need to find a place and start booking! Any suggestions on where to go is welcome!

  2. Lisa says

    April 22, 2021 at 3:12 pm

    We ate going on a cruise with a cruise line out of Italy. We have cruised with them before. 2 adult nieces are also going. I didn’t even think to budget for spoiling them. This article helped lots. Thanks

  3. JC says

    April 23, 2021 at 6:58 am

    East Coast! Back to where I had my kiddos and the military wife life! Excited for a week away and just relaxing site seeing and walking my miles and miles a day!

  4. Donna says

    April 23, 2021 at 8:13 am

    Last year was the first time we ever saved ahead of time for a trip, and it completely changed the way we spent money on the trip. (Yes, we always charged everything but paid it off as soon as the bill came. My husband HATES to carry cash–always has!)
    I took charge and made out a budget for the trip. I am disabled so we were renting a van and staying overnight on the way there and back. The categories I had were: van rental, gas, hotel, food, groceries for the week, and misc.(Don’t forget this one for everything that may come up or you forgot!) I bought a “cash system wallet” from Amazon & made up my own register for each category. We spent money much wiser because we could see just how much was going out of each section!! I think we enjoyed ourselves even more because everything was already paid for!!!
    We’re taking the same trip this summer and the only thing I changed was the amount to save for gas (who knows what prices might be by July!)

  5. Anonymous says

    April 23, 2021 at 11:00 am

    I am going to Orlando in May with my boyfriend.

  6. makeda kimble says

    April 23, 2021 at 11:59 am

    I am planning to go to Dustin, FL from August 20-22, 2021. I have already started saving but it is not detail as your.

    I have found your programs just this yea. It has helped me a lot. I am a big time spender and I give away a lot too. am learning now a bit.

    Thank you budget mom.

  7. Colleen Fitzpatrick says

    May 5, 2021 at 3:59 am

    15 day Hawaiian Cruise in March 2022.

  8. Andrea says

    May 19, 2021 at 6:25 am

    I’m taking a solo-road trip to visit 3 friends! We all live in the same state but it’s been several years since I’ve seen them.

Hello, I'm Kumiko, but everyone just calls me Miko. Welcome to my blog, The Budget Mom. I am an Accredited Financial Counselor® , and mom to a rambunctious boy. Come along with me as I strive to live a life I love on a budget that I can afford. Read more about me.

RECENT YOUTUBE VIDEO

Ryen & I are talking about our June 2022 budget numbers! Not only do we show where our dollars went, but we also discuss if we stuck to our budget limits.

In this video, we are going over some heavy spending I had in June (thank you, sinking funds!) and Ryen gives an update on her debt payoff timeline. 

What do you do with your budget after the month is over, and you’re ready to begin a new month? Most people don’t realize it, but your spending throughout the month gives you some incredibly helpful information.

One of the first steps to creating and sticking to a realistic budget is tracking your expenses. Your spending is the underlying foundation for creating a budget and ensuring that your budgets in the future are successful.

If you are not aware of where your money is going, you can’t make the best decisions for your dollars. Today, I am going to show you how to extract all of the vital information from your expense trackers using the "Where Did My Money Go?" Worksheets.

CHAPTERS:
00:00 Introduction
09:57 Miko's Budget Category Breakdown
12:46 Miko's Investment & Savings Breakdown
14:21 Miko's Spending Comparison to May 2022
15:10 Ryen's Budget Category Breakdown
17:18 Ryen's Debt & Savings Breakdown
18:22 Ryen's  Spending Comparison to May 2022
19:08 Conclusion


➡️ HOW I TRACK MY SPENDING: https://bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: https://bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: https://bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: https://bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: https://bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: https://bit.ly/2wDETxF

ABOUT ME

I'm the blogger behind https://www.thebudgetmom.com. I have a rambunctious 6-year-old son, live in Washington, and I'm passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!

YOU CAN FIND ME AT:

📝 BLOG: https://www.thebudgetmom.com
📘 FACEBOOK: https://www.facebook.com/thebudgetmom/
📸 INSTAGRAM: https://www.instagram.com/thebudgetmom/
📌 PINTEREST: https://www.pinterest.com/thebudgetmom/

GET STARTED

➡️Start Here: https://www.thebudgetmom.com/start-here/
➡️Free Email Course: https://bit.ly/2UYgNFf
➡️Free Resources: https://bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMYOUTUBE https://bit.ly/2CR7U9n
JUNE 2022 BUDGET RECAP | Budget By Paycheck + Budget Tips
YouTube Video UCqP6K5GNGvQXSI10xNIAkxA_QFxVLJaDXUw
Load More... Subscribe
Free Resource Library

Recent Posts

  • Should I Take Out a Personal Loan to Pay off Credit Card Debt?
  • What to Do When Your Credit Card Company Sues You
  • Sam’s Club vs. Costco: Which Is Best for Your Budget?
  • Why Does Your Credit Score Drop When You Pay Off a Debt?
  • What You Need to Know About Student Loan Forgiveness

Blog Categories

Amazon Associates Disclosure

The Budget Mom, LLC is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

  • Cart
  • Shop Policies

Start With My Friday Newsletter

Every Friday I send you a short helpful email with my popular Friday freebie. Join my 500k+ subscribers!

About

  • Home
  • ABOUT TBM
  • Contact
  • Start Here

Important

  • DISCLAIMER
  • PRIVACY POLICY
  • Subscribe

Favorites

  • YouTube
  • Blog
  • Live Rich Planner
  • Budget by Paycheck

Start With My Friday Newsletter

Copyright ©2022, The Budget Mom®
This website contains affiliate links, which means that if you click on a product link, I may receive a commission. This website is a participant in the amazon services llc associates program, an affiliate advertising program where I earn advertising fees by linking to amazon.com.
  • How financially fulfilled are you? Take this 2 minute quiz to get your score!
    Click Here to Start