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Seven Tips for Staying on Budget on Vacation

Seven Tips for Staying on Budget on Vacation

Seven Tips for Staying on Budget on Vacation

Summer vacations are right around the corner and if you missed out on vacations in 2020, you’re likely MORE than ready to hit the road this year! Once you get your plans in place, you’ve got the most difficult part behind you. But staying on budget while you’re on vacation is just as important as PLANNING on a budget. It’s easy to get caught up in the excitement of vacation and go overboard, so here are a few tips to keep you from feeling the post-vacation spending blues.

Maybe you’re a foodie and eating well while on vacation is your favorite thing to do. Or maybe your family is all about experiences and you just CAN’T end your trip without going on that snorkeling adventure. Whatever it is for you and your family—make sure you budget for it! If you want to splurge on one aspect, try to save money on the other things. A more modest hotel stay can leave extra money in your budget for fine dining or fun adventures.

Speaking of good food, another great way to save a little money is to cook some of your own meals or make your own drinks! If you’re staying in a rental home with a kitchen you can save for other experiences by forgoing the restaurants for at least one meal a day.

Set a daily spending limit.
Give yourself a spending cap for each day so that you don’t get into a bind at the end of the trip. Try to anticipate how much money you’ll need, per day, for meals, activities and lodging and then don’t let yourself go over your limit.

Pay in cash.
Keeping track of the spending limit you set for yourself will be easier if you pay for meals and activities with cash. You’ll know exactly how much you have left for each day—just remember to keep your spending cash in a safe place while out and about.

Skip the souvenirs.
When you visit somewhere new you may be tempted to stock up on souvenirs, but often these items are overpriced and end up doing nothing more than filling up your suitcase for the way home. Limit your souvenir buying and spend that extra money on another adventure or a great meal!

Avoid dining at “tourist traps”.
If you’re visiting a popular tourist destination, you’ll probably see lots of restaurants that cater to tourists. While many of these restaurants are wonderful and worth the splurge, you should try out a few local spots off the beaten path, too! You’ll get an authentic experience and likely find more affordable options.

Be on the look out for discount days for different experiences, museums, etc.
When planning your activities be sure and look into experiences that offer discounts. Many places will offer free or discounted entry if you visit on a weekday or at a certain time.

We’re so happy that summer is here and that we can all enjoy a great vacation again. Hopefully these tips will make the transition back to work and the “real world” after your vacation a little more tolerable. Safe travels to you and your family!