Budgeting and Saving for Travel

“I wish I could afford to travel.”  I hear this all of the time!  Traveling can be expensive.  But, you can also do it on a budget.  Helping people experience the world within their budget is what led me to becoming a travel agent.  In December 2019, my husband and I celebrated our 10th anniversary with a trip to Paris.  I had so many people comment to me that traveling to Paris is a dream, but they could never afford it.  As an accountant (and a budgeting pro) along with a world dreamer, it breaks my heart to hear people say they can’t afford to experience the world the way they want to.  It has become my goal to help those people make memories within their budget.  But how?

How do you travel on a budget???

My first piece of advice is to always set a realistic budget.  What can you afford to spend on this trip?  Next, list your priorities.  What do you want to get the most out of with that budget?  Do you want to stay in a posh hotel?  Do you want to stay a few extra days and lower your budget per night for accommodations?  Do you want to save time and fly or save money and drive?  Sometimes to do what you want with your budget, you have to sacrifice things that might not be as important to you.

Saving

Saving for travel is important.  It is a lot less stressful if you have the money to pay for the trip before you actually travel.  It is hard to enjoy your vacation when the mounting credit card bill is looming over your head.  There are many ways to save up for your trip. My husband and I set aside our “extra money” in a separate account.  We don’t use that account for our bills or for our everyday expenses.  We know that whatever is in that account is not already allocated to something that takes priority.  You can do this after you pay your bills and before you spend all of your extra money for the week.  You can also add to it if you opt out of another expense.  Are you saving up for an extra day on your vacation?  If you forego pizza night and cook dinner at home, take that money you would have spent on dinner out and put it in your savings. 

Disney

If you’re planning a Disney vacation, you can book with a deposit and make payments up until 30 days prior to your arrival date.  You can also pick up gift cards with every grocery trip and add them up to put toward your trip. 

Loyalty Rewards

Almost every airline and major hotel chain offers a loyalty program.  Use it!!  Save up your hotel points for free night stays.  Do you have a specific airline you fly more than others?  Use their credit card and get points on your grocery and gas purchases. 

Gifting Travel

One way my family chooses to save money for traveling is to use it as gifts!  Instead of spending lots of money on toys and items that will end up in your next yard sale, give them the gift of experiences and memories!  We have taken our kids to Disney World and Universal as their Christmas gifts.  Last year, my 17-year-old son decided he wanted to go skiing for his birthday.  So instead of a new gaming system, we went skiing for the first time in Breckenridge, Colorado.  That is a birthday present he will never forget. 

Are you dreaming of a vacation that is out of reach?  Would you like some ideas on how to prioritize your budget for an upcoming vacation?  Would you like suggestions on trips for a birthday, Christmas, anniversary, or graduation?  Send us an email at info@pineappleescapes.com to reach any of our agents who would be happy to work with you to plan your vacation. 

For more budgeting and saving tips, check out our The Travel Tidbits Podcast Episode 9. 

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