In my Simpli Saving post I mentioned that I’ve become obsessed with budgeting but guess what? It’s also inspired me to share what I’ve learned with others! Maybe you aren’t striving for financial independence like I am because you are already there but there is always something that comes up that you may want to save for… Be it a fabulous wedding, a European vacation to Italy, buying a new home, or even planning to start a family! If you see any of these life enhancing events in your future then you’ve come to the right place! I’ll share some things with you that can assist you with your goals!
With summer in full swing and being Quarantined and practicing Social Distancing since March 2020 due to COVID-19 all I can think of is a nice Vacay! It will be some time before we can freely travel again so guess what? We have time to plan and to save for it! If you haven’t started saving just yet please don’t fret. Here are a few steps to help you start saving for that vacation that you so desperately need!
Set a Budget for your trip:
A lot of times people plan vacations based on where they want to go but financially speaking you could start by putting a dollar value on how much you want to spend for your vacation and go from there. When planning for a trip I find it best to start by looking at how much you want to spend. Get a figure that you can comfortably afford.
Find a destination that fits your budget and your preferences:
This is where you start looking for climates that you’d like to visit or places that have the things that you may want to see. Keep in mind that you should choose a destination where round trip transportation, meals, and any other expenses fall within or under the amount of money that you have designated for your Trip.
Determine when you will be traveling:
Find dates that fit your schedule or if you have flexibility, plan your dates during off peak seasons so that your trip will be less expensive. It’s no surprise that a trip to New York City would be double or triple the price if booked during New York Fashion Week; than it would be during off peak times of the year.
Plan Ahead:
What do you what to do when you get there? Are you going somewhere tropical and want to go jet skiing or are you going to a rain forest where you want to go zip lining? All of these extras cost money therefore you need to plan ahead of time and incorporate these prices into your budget as well.
Save, Save, Save:
If you don’t have the total amount of money for your trip in the bank then calculate how much you will need to put a way on a monthly or weekly basis to reach your goal and start putting it a way. You may have to cutback on the $6 Skinny Caramel Macchiato that you get from Starbucks every morning but when you are laying on the beach sun bathing in the Dominican Republic next year it will be well worth it!
Helpful Links to help you plan for your next Vacay within your budget:
http://www.budgetyourtrip.com/