• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Thursday, January 21, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home Holidays

7 Budgeting Tips for Summer Vacations

by Claire James
06/03/2020

The temperatures are starting to rise, the snow is melting, and families everywhere are starting to plan their summer vacations. But before you put in that PTO request at work, we have a few tips and tricks to budgeting for your next trip.

Here’s how to make sure your relaxing getaway doesn’t become a financial burden:

Be realistic

As you start to plan your summer vacation, try to keep your budget in mind. Look at your current financial situation and consider whether an international trip, a cross-country flight, a road trip, or even a staycation is right for you.

As glamorous and relaxing as those day cruises on the Amalfi Coast might look, a temporary vacation is never worth going into debt. Instead, look for vacations that won’t cause financial stress.

Find out where summer is the off-season

If you are looking to get away from home this summer, research places where summer is the off-season for tourists. Doing so can result in cheaper flights, nicer hotel options, and less crowds.

If you’re looking to try off-season travel, Outside Magazine recommends New Zealand, Bonaire, South Africa, Puerto Vallarta and Lake Tahoe.

Anticipate how much you’ll need

Once you pick your destination, start looking at how much money you’ll need to get there, explore, and get back. Look into flights, hotels or BNBs, excursions, and food cost so you can start saving.

“ … the reality is putting things on a credit card and paying it back afterward is the worst thing that you could do when it comes to travel,” Samantha Barry, Glamour’s editor-in-chief and host of the She Makes Money Moves podcast, recently told Conde Nast Traveler.

RelatedPosts

Learn How To Make Money Off Your Holiday Property

Cairn Reveal Scotland is the Most Popular Destination for Staycation Searches

Countryside Staycation Escapes: Your Northern Bucket List

4 Upcoming Events to Add Some Excitement to Q4 2020

Load More

Start saving well in advance

When it comes to summer vacations, Jade Beckman, vice president of consumer loans at Mountain America Credit Union, recommends to “start saving 6 months to a year in advance. Figure out roughly what your trip will cost, then set up automatic monthly contributions to a summer vacation savings account. This might mean you have to pass up your morning caramel macchiato from Starbucks, but it’ll be worth having more peace of mind during your vacation knowing the trip was paid for up front. Another smart way to budget for summer vacations is to utilize credit card rewards. Put a lot of your purchases throughout the year on a rewards credit card – making sure you pay off your balance in full each month – and then use the cash back to help pay for your vacation or use the travel rewards points to purchase flights or hotel rooms.”

Use credit card rewards

Your credit cards can be a major tool when it comes to saving for your vacation — and actually getting there. Create a spending strategy that helps you earn credit card rewards — either cash back or air miles — to relieve some of the financial stress of travel.

Create a budget for the vacation

A few weeks before your trip, use the research we mentioned earlier to create a budget that you and your family can stick to.

Start by looking at how much you successfully put away in savings, then subtract your flights or estimated gas costs and your lodging expenses. Using that, you can decide how many times you can afford to eat out, which adventures to go on, and what other fun money you have to spend throughout the trip.

The tricky part is sticking to this budget. You might be on vacation, but your money isn’t. Try not to let yourself get carried away.

“The key to enjoying your travels while also sticking to a budget is BALANCE,” writes Katie Diedrcihs of Two Wandering Soles. “Splurges are fine when they are balanced out with days with little spending.”

Don’t worry about souvenirs

Finally, don’t fall victim to the souvenir trap. Too often, friends and family return from a trip with half a suitcase full of tchotchkes that will live on their shelf for a few years before being donated to the nearest Goodwill or Salvation Army. Skipping this tired routine can save you money and time that can be spent creating valuable memories with your loved ones. You work hard, and you deserve a vacation this summer. But don’t let financial stress ruin a relaxing getaway. Take a little time to plan before you book, and you’ll be well on your way to the perfect summer vacation.

Previous Post

What is hot desking?

Next Post

Top tips for business

Related Posts

Learn How To Make Money Off Your Holiday Property
Business

Learn How To Make Money Off Your Holiday Property

16/11/2020
Cairn Reveal Scotland is the Most Popular Destination for Staycation Searches
Automotive

Cairn Reveal Scotland is the Most Popular Destination for Staycation Searches

27/10/2020
Countryside Staycation Escapes: Your Northern Bucket List
Holidays

Countryside Staycation Escapes: Your Northern Bucket List

27/10/2020
Next Post
Top tips for business

Top tips for business

Here’s why Biometric Technology is Great for Business

Here’s why Biometric Technology is Great for Business

Kevin Neal: The Key Differences Between Equity and Debt Capital

Kevin Neal: The Key Differences Between Equity and Debt Capital

Latest News

Tips to Choosing the Right Internet Plan for Your Business

Tips to Choosing the Right Internet Plan for Your Business

21/01/2021
Do I Have To Take A Test To Go Back To Office

Do I Have To Take A Test To Go Back To Office

17/01/2021
Dry Eyes: The Ultimate Guide To Dry Eye Treatment

Dry Eyes: The Ultimate Guide To Dry Eye Treatment

21/01/2021
How Secure is Your Money in Online Bingo

How Secure is Your Money in Online Bingo

21/01/2021
Top Reasons to Immigrate to Canada from the UK

Top Reasons to Immigrate to Canada from the UK

20/01/2021
Prisa Sells Its Radios In Argentina

Prisa Sells Its Radios In Argentina

17/01/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.