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Everyone loves vacations: they are a way to relax, unwind, and recharge, while spending time with loved
ones.
Whether your dream vacation takes place annually or is more seldom, the key to your stress-free,
maximum enjoyment holiday is budgeting and saving accordingly.
The Elements
Quite simply, things you will want to consider are: accommodations, meals, airfare, car rental, insurance,
and daily spending money.
You will also want to consider the foreign exchange rate in the country you will be traveling, ensuring that
your dollar extends as far as your budget permits.
Budgeting
The best place to start would be by adding up all of the lump sum, fixed elements: hotel, car, insurance, and
airfare. You would then generously estimate the spending money per day, multiplied by the total number of
days of your trip. The sum of the fixed elements plus total spending money for the duration of your trip, is
the total cost of your vacation, and prime interest.
For example, let’s say that the total fixed costs for your family (accommodation, car rental, insurance, and
airfare) are $3,000. Let’s also say that your trip is ten days, and your estimated daily spending is $100 per
day, your total spending would then be $1,000. The $4,000 sum is the value your savings plan should be
based upon.
The daily spending estimate will make the greatest impact to your budget, influencing the ability for it to be
considerably under or over-estimated. As such, you would be wise to appraise more liberally in this
category.
Saving
Going back to the example above, if your total trip cost is $4,000, and you are the type of traveler who
typically plans four months ahead, then you will need to put away $1,000 per month. If $1,000 is
unfeasible, then perhaps you will want to plan eight months in advance, cutting down your savings per
month to $500.
Certain foreign countries allow for tax-free shopping, providing tourists with the opportunity to claim a
rebate on the retail taxes spent. While
subject to minimum spending regulations and restrictions on the
types of products on which the rebate can be claimed on, this would be worthwhile area to examine; as it
can potentially slim down your savings provision each month.
My husband and I recently took our first dream vacation since becoming new parents. We created our
budget, saved appropriately, and were able to take pleasure in the beauty of our trip without being burdened
by finances. Superior accommodations, exceptional food, beautiful beaches, and most importantly –
intimate family time, where we were able to simply enjoy life. For me, this enjoyment was made possible
by being mindful that we had saved enough money based on our planned budget, enabling a clear mind and
easy spending.
Now get going, and enjoy! Relish in the enjoyment of knowing that this purposed planning technique will
pay off, allowing your dream vacation to become a reality.
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