How to Budget for Your Vacation

What do I need to consider when budgeting for a vacation?

Answer:

One of the first things you’ll need to consider is how much money you have or want to spend. Many people plan trips and then look at the cost. The planning should be the other way around.

When traveling out of the country the rate of exchange needs to be the first consideration. There are many places around the world where the U.S. dollar goes further. Some examples are: Australia, China, Egypt, Israel, Japan and many more. Currently the U.S. dollar is down against the Euro and therefore may be a strong consideration when budgeting for a trip.

If traveling within the United States, consider the expense of flying or driving. With the cost of fuel fluctuating daily, it is imperative that you consider which option will save the most money. When traveling with the family it is sometimes most cost effective to drive, but consider your sanity as well. Will the kids be able to occupy themselves for any length of time or will you have additional expenses stopping at different locations to keep them busy?

I have posted a budget planning worksheet for you to have as an example of where to start your planning. You can use these budget planning worksheets or create your own. The important thing is that you write it all down to calculate accurately. Don’t forget to add all the incidentals such as bottled water, snacks, gifts and souvenirs.

Use the budget planning worksheets below to help plan your holiday.

Expenses Before You Leave

Airfare_____

Currency exchange fees______

Tour company cost (if applicable)_______

Hotel accommodations________

Travel insurance________

Cellular phone rental/company fees_______

Calling card fees_______

Internet fees_______

Home telephone bill______

Transportation to and from home to airport_____

Transportation at your destination_______

Pet boarding_________

Guidebooks and literature ______

Shopping for necessities________

House sitter fees________

Total_____________

Budget While Traveling

Transportation upon arrival to and from airport________

Food allowance daily/weekly__________

Additional snacks and drinks_______

Shopping allowance______

Hotel costs_________

Transportation within your destination_________

Sightseeing ________

Museum and attraction entry fees_______

Optional tours (if on an escorted tour)_________

Tipping and baggage handling__________

Internet and telephone charges______

Souvenirs________

Car rental and insurance fees________

Total__________

These are just suggestions for budget planning. There are many items to consider when calculating your expenses. Each individual has his/her own ideas of how to budget for a vacation. Using a worksheet will help you create a realistic look at your entire trip. Trying to stick to that budget is another thing!

Good Luck.

Barbara Diener

www.travelsmartdreambig.com