Last updated on August 24, 2020
Everyone needs a vacation from time to time, and many studies show the benefits of taking a vacation, such as boosting happiness and physical health, are well worth the expense. Yet, many Americans live paycheck to paycheck, making budgeting for a vacation tough. If you’re fancying a vacation, then go ahead and start planning one. Here are some tips to help you see where you can save a bit of money as well as how far you can go.
1. Travel Off-Season
Traveling when everyone else is at home has its perks. Off-season travel expenses can be cut in half in some cases. Staying on the beach in a condo may be out of your reach during summer months, but during the fall or spring, many property owners drastically slash prices to entice travel and keep their income flowing.
This will hold true for everything from car rentals, to museum entry fees and booking flights. Best of all, beaches and other travel destinations are less busy during their off-peak seasons. You could even get lucky and feel like you have your own private beach.
2. Deciding to Drive or Fly
Depending on the distance you’re traveling and the number of people traveling with you, you could save money flying over driving. Driving long distances could mean more overnight stops at hotels along the way until you reach your destination. You’ll also have to purchase more meals getting there in addition to purchasing gas. If you know your vehicles highway gas mileage, you can get a very close estimate of how many times you’ll need to fill up your tank to get a total gas expense. Do the calculations to see whether flying or driving is going to afford you more savings.
For flights, start shopping around several months before your planned vacation. Compare deals between several of the travel sites, including Expedia, Travelocity and Orbitz. Also check prices on the airline sites. They could be offering specials. When you shop around you’re more likely to find a bargain.
3. Stay in a Privately Owned Rental
There are several sites online where property owners can list their vacation rentals to be booked. These sites feature everything from city lofts to large homes on the lake. Although these properties may seem more expensive than a hotel at first look, you need to take a longer look at what they offer.
In a privately owned property you get a kitchen stocked with pans, utensils, dishes and all the appliances. This allows you to prepare all your meals in a home rather than picking up fast food or dining out every night. The savings is substantial.
Another great thing is the many of these properties offer entertainment amenities, such as being located on water, having a game room and even offering their own swimming pool. Also, the freedom to roam can makes it much less boring than being crammed in a hotel.
4. Buying Groceries
If you do go with a property rental, you’ll need to either bring or buy groceries. Bringing your own groceries from home is a good option if you’re driving and have room. Otherwise, you’ll need to purchase groceries in the city or town where you’re staying.
Often, tourist destinations have higher priced groceries than you can find in a city that doesn’t feature popular attractions. If you’re staying at a vacation destination, don’t buy your groceries there. Drive a few extra miles to purchase your groceries in a neighboring town.
5. Use Public Transit
If you’re staying in one of America’s larger cities, and didn’t drive, use public transit. Even if you did drive you might want to use public transit. It’s cheap and it’ll save you from sitting in traffic. As an added bonus, it’s better for the environment. Daily, weekly and monthly passes can be purchased for unlimited transportation in that time.
6. Budget and Stick to It
Before you plan the details of your vacation, decide how much vacation you can realistically afford. If you need a little boost to your budget, you may be able to refinance loans to get a little extra money. After you have your budget, make a spreadsheet to keep track of your expenses so you don’t go over.
You should start your list of expenses with the absolute necessities. This will include your flight or cost of driving, where you’re staying, and your food budget. If you’ll be using transit, put the cost of your passes in the budget. Then you can start filling it in with the fun stuff. Be sure to leave yourself extra spending money for souvenirs and to try out the best burgers in Melbourne.
By doing this, you can be selective on where and how you spend your time. You’ll know exactly what everything is going to cost when you get there and you won’t be in danger of overspending.
No matter what size your budget is, there are always ways to make a vacation fit within it. Being frugal will keep you from getting yourself in financial trouble so you’ll be able to take a vacation again next year.
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