Wealth Management & Financial Planning

Wealth Management & Financial Planning

Budgeting for Vacation

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Kids are starting to longingly look out the windows of their classrooms as the grass becomes green again and the weather slowly begins to warm up in most parts of the country. Many families have also begun planning summer vacations. Piling the kids into a car for an eight-hour drive or trying to wade your way through airport security with bags in hand can be a cause for vacation in and of itself! While traveling can be fun there are many factors that we must consider first. If we aren’t careful, vacation expenses can put a large dent in your wallet and potentially throw off a full year’s budget.

Before requesting time off from work and charging the digital camera, we first must make sure we can afford to go on vacation. There’s no reason to go into debt, or deepen the amount of debt you may already have just to see a national landmark or baste in the sun rays.   Don’t get discouraged if there isn’t as much room in the budget as expected for taking that trip around the world. While the flight to Europe or Hawaii might need to be put on hold, there are still plenty of places to take the kids or grandkids and have a great time. What’s important is recognizing the budget constraints and planning a family adventure around them. First determine what can be spent and then begin looking for a location. Doing the planning in this order is the first step to stress-free traveling.

It’s easy to get caught up in simply looking at the cost of airfare and hotels and making a decision based off those two numbers when planning a vacation. But you must also take into consideration food costs, souvenirs, transportation once you arrive, and any tours or excursions you might take while there. Sometimes all the incidentals can cost more than airfare and hotel combined!  While good planning ahead of a trip is crucial, we can’t forget to keep track of expenses while out-of-town. Being creative about locations visited, activities planned and where to eat can also help keep you within your budget while enjoying your travels.

Vacations are a great way to create memories with family and friends; they are also an excellent way to de-stress. Unlike many developed countries, American companies are not required to give employees a minimum amount of vacation time. U.S. workers are often perceived as workaholics and their health can be greatly affected by this. While we all work hard, it’s sometimes necessary to take a break and allow our bodies the chance to relax. If the budget stays in focus and we put in the proper planning, then great times can be had and memories can be made.


Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm”][vc_widget_sidebar sidebar_id=”sidebar-main”][/vc_column][/vc_row]

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