If you have dreams of going on a great getaway in the coming year but are worried about the costs required to make these dreams come true, it’s a good idea to begin budgeting for your trip as soon as possible.
Follow these tips to save money before and during your next vacation.
Tip 1: Develop a Plan
Before you book your trip, be sure to get a decent idea of how much money it will cost.
Specifically, research the average costs of flights to and from your destination, hotels or other lodging options and restaurants and activities that you’re interested in trying.
Once you have a ballpark figure in mind, increase that number by 10 percent to account for souvenirs, snacks and other expenses that may be higher than you expect.
Compare this final figure to your current funds, and make a goal for yourself to reach a particular savings amount before embarking on your trip. Then, open a savings account designated solely for holding your vacation money, and begin transferring funds into it on a monthly basis.
Tip 2: Modify Your Routine
In order to put aside cash for your next getaway, you may need to make some changes to your daily routine.
One change that can be both good for your health and your wallet is to eat more homemade food. Preparing your meals at home tends to be less expensive than eating out, whether you typically purchase food from high-end restaurants or fast food joints. Even making the simple switch from buying a daily cup of coffee to brewing your own cup can save you money over time.
When shopping for groceries, compare the cost of each item, and choose the least expensive options you can find. Oftentimes, cheaper store-brand foods taste just as good as high-priced name brand items.
In addition, if you are subscribed to many streaming services or memberships that you rarely take advantage of, cancel the services that you don’t truly need or use enough to be worth the price.
Tip 3: Spend Wisely
In addition to spending less money in your daily routine, try to reduce the cost of the vacation itself.
Choose to drive to your destination instead of flying, if possible. Even with fluctuating gas prices, driving is usually a more affordable option, and it enables you to bring as much luggage as you can fit in the cargo area. If you need to book a flight, be sure to pack light and use as few suitcases as possible to avoid additional fees.
When picking your lodgings for the trip, renting a house may be a less expensive and better choice than reserving a hotel room. If you prefer hotels, compare the prices of hotels to find the cheapest one, and remember to keep your options open to hotels located just outside of bustling cities.
While on vacation, avoid the temptation to eat out for every meal. Instead, head to a local grocery store, and pick up some ingredients you can use to prepare meals in your lodgings. PB&Js make great vacation lunches!
Embarking on an epic getaway is a great opportunity to connect with loved ones, try new things and take a break. Turn your dream vacation into a reality by following these aforementioned savings tips.
Next Read: Simple Tips to Save Even More
Saving for your next getaway can actually be fun! Read our next blog to learn about more small changes you can make to put more money in your pocket.
Published by Minster Bank. Includes copyrighted material of IMakeNews, Inc. and its suppliers.