Category: Financial Planning

How to manage a budget during your vacation?

 

What does summer mean to you? Does it mean time by the pool or maybe spending time with your family at a cookout? For a lot of people, summer is the time to take a vacation. Big or small, it’s the perfect time to focus on rest and relation. But how do you plan the vacation of a lifetime without breaking the bank?

 

According to a recent survey, 74% of people say they have gone into debt to pay for their vacation. It’s easy to get carried away with spending money while you’re on vacation. With all of the temptations at every corner, here are a few ways you can make sure you don’t overspend while on your summer vacation.

 

Create a Budget

First and foremost, you need to create a budget for your summer trip. If you don’t want to overspend, you need to have a baseline for what you can afford. You don’t want to start booking a vacation to find it’s out of your price range.

 

Determine how much you want to spend on travel, transportation, accommodations, meals, souvenirs, activities and more. Wherever you think you’ll spend money, create a section of your budget for it. The more specific you are, the easier it will be to not overspend. Be sure to also include things like any boarding fees for your pet, tipping expenses and any resort fees.

 

Research Your Vacation Spot

Once you have a budget in place, it’s important to research your vacation spot. Investigate everything from the best places to stay to what activities are available in the area. Read reviews to see what other tourists are saying about the location. This will give you a great starting point and inform you about what there is to do in the region.

 

Use this opportunity to also research the best deals. For accommodations, you can try sites like Airbnb. These sites allow you to rent out your own space or share a space with the property owner. You could also reach out to friends and family.

 

“If you have friends or family who live in the place you’re looking to travel to, reach out to them ahead of time and see if they wouldn’t mind hosting you for a few nights. Chances are they’ll be more than happy to see you, and you’ll save big on accommodations”.

 

For flights, you can try sites such as, Expedia, Kayak or Priceline. Many of these sites will provide you the ability to set up a price alert to monitor price fluctuation for your desired location and dates.

 

When searching for activities and tours, visit TripAdvisor. They give reviews and different options for the activities and tours you may want to explore. If you find an activity you’re interested in, you can also call the company directly to see if they offer any discounts for booking with their company. Some excursions may also be cheaper on certain days. So, it never hurts to ask before you book your activity.

 

Look for Deals and Discounts

Once you have an idea of the restaurants and activities you would like to try, search for specials and deals. Groupon can be a great resource for helping you find deals in the area.

 

Your credit card may also be a good resource to locate deals or receive various rewards for your loyalty. Iverson states, “Credit cards can save you time and money when traveling.

 

Keep in mind there are countless other tools you can use to help you save money before you even leave for your vacation. 

 

Make an Itinerary

Now that you have your accommodations and activities selected, you may want to make an itinerary for your summer trip. Developing a vacation literary will not only help you stay within your budget, it’ll help you maximize your time. It forces you to prioritize what you’d like to do and where your money will be allocated.

 

Plan All of Your Meals

Creating an itinerary will also help you plan your meals. Dining out can add up and bust your budget. Your accommodations can help you determine if you may be able to stay in and cook. If you don’t have access to a kitchen on vacation, you could stop at a local grocery and pick up nutritious snacks that may be a substitute for costly restaurant meals.

 

When you stop by a grocery store or local restaurant, ask if they have a reward or discount program. By simply asking, you could save some money!

 

Avoid Common Spending Traps

Even if you properly budgeted and prepared for vacation, there are plenty of temptations that could cause you to overspend. Here are just a few you should be aware of before you venture out on your trip:

 

Not properly planning and bringing all items you need while on your vacation. Forgetting something important at home may cause you to have to purchase an item you already have. Make a list of all items you’ll need so you can ensure you have properly prepared.

 

Budget for pre-vacation shopping. It’s easy to get carried away when shopping for your trip. Only purchase items you absolutely need.

 

Wait to purchase souvenirs. Most vacation locations will have multiple shops with the same items. Compare prices. It’s always okay to go back. You don’t want to bust your souvenir budget on the first day.

 

The Bottom Line

The best thing you can do to not overspend while on vacation is properly prepare in advance and to conduct the appropriate research for your vacation spot. The more prepared you are, the easier it will be to enjoy your summer vacation.

 

How not to blow your budget on vacation?

Frequent hikes in fuel rates and the resultant augmentation in travelling cost can make you worry about budget while traveling in India. Nevertheless, do not worry! By no means, it signifies that you should be a really rich man to explore this country. To assist you out in traveling with limited budget, here is the list of top 25 tips that will show you how to save money while travelling in India

 

Bargain is a Must-do:

Right from the nitty-gritty of the tour to the tariffs of hotels, you can bargain to get better rates. Never hesitate to bargain to save maximum amount of money possible. Even if you are in a market, there is a possibility that the shopkeeper is overcharging. The best way to deal with it is to bargain.

 

Book Flights in Advance:

Flight rates may seem to be on the higher side if you book them at the last moment. You can save a reasonable amount of money by booking flights in advance. Travel in the off-season when fares are low. You can also get cheap air tickets if you do prior bookings.

 

Measure the Weight of Your Luggage:

There are certain standard criteria that apply to customers relating to the luggage they are allowed to carry on the flight. For this reason, you should make certain that you are not carrying more than the permitted limit with you. You may have to pay extra amount for carrying excess luggage. Moreover, leave some vacant space in your bag to store items that you will shop in India.

 

Travel in Groups:

To save money, you can also travel in clusters. Get along with friends or family for vacation in India. There is lesser chance of being cheated if you are travelling in a group. Moreover, you can grab enticing packages and offers while enjoying the vacations with family and friends as well.

 

Travel in Public Transport:

There is a good network of public transport in India. These vehicles are not as bad as their image has been created. Public transport is the best way to save money on conveyance. You can discover more of India by travelling in local transport than being enclosed in a closed cab.

 

Get in Touch with Travel Companies:

Different travel companies in India offer enticing travel deals. Such travel agencies can work wonders for you. All the arrangements of your travel itinerary become their responsibility and that too at a low cost. What’s more, it is a great way to save money along with enjoying the convenience as well.

 

Get Familiar with Local Habitants:

Being acquainted with the local habitants will prove fruitful in many ways. You can explore the region in more profound ways if you are accompanied and guided by locals. In addition, they will also help you out cut down on unnecessary expenses.

 

Learn about the Car Rental Tariffs:

Car rents can prove out to be pricier for you if you are not aware of car rental pricing. You must ask beforehand for various deals available on different vehicles. Without knowing the actual car rentals, you may end up in losing your money futilely.

 

Opt for a Diesel Car:

Petrol prices soars up higher and higher on a frequent basis. Cars that run on diesel cost lesser in comparison to those on petrol. As a result, you should prefer choosing a diesel car to avoid the transportation budget curbing your vacations.

 

Anoop

 

Dilzer Consultants Pvt Ltd

January 20, 2019

 

Reference:-

Budget Travel in India: 8 Essential Tips!

Budget travel in India isn’t a difficult thing to do. When I travelled to India this year, I managed to survive easily on just 1000 rupees per day (around 10GBP/15USD), including accommodation, domestic travel, food, sightseeing and of course, souvenir shopping! While living within this budget was pretty effortless, I could easily have gone overboard and spend a small fortune. I don’t know if you can relate but, whenever I go to a country which is much cheaper than the UK (AKA most countries) I constantly convert the prices of things back to sterling and feel like I need to take advantage of all the bargains. Ultimate budget travel tip: don’t do this! Learn to think in the local currency instead. Just because it’s cheaper than your home country, doesn’t mean it’s necessarily cheap. Take advantage of the fact that you’re in one the cheapest countries in the world and, instead of thinking about how much you’re saving by buying, think about the extra pennies you can save towards your next holiday by not buying! My tips for budget travel in India aren’t going to make your trip any less fun or make you feel like you’re living like a … Continue readingBudget Travel in India: 8 Essential Tips!

Wee Gypsy Girl

 

https://www.asherfergusson.com/2012/11/100-tips-to-survive-travel-through-india-fun-facts-culture-temples-pictures-more/

https://www.hindustantimes.com/travel/travel-tips-5-ways-to-plan-a-debt-free-vacation/story-azSyWI6LGhrHraoZ1IxqpI.html

 

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