5 tips for better budgeting while on holidays
Creating an effective budget for your holiday is one of the most difficult parts of putting an overseas trip together. And getting your budget right can be the difference between enjoying a holiday of a lifetime and finding yourself on a trip that you’d rather forget.
Here a six tips for creating a daily holiday budget that works for you. With a little bit of planning, we think you’ll be able to enjoy your holiday with plenty of spare change.
1. Figure out exactly what type of a holiday you’re planning to take
The type of holiday you’re planning to take is really going to dictate how much funds you’ll require for your trip. For example, a couple of weeks venturing through Southeast Asia might not require as must funds as a three month sojourn through Europe. Figure out what type of trip you want (in terms of destination, activities and lodgings) before you budget.
2. Work out the upper limit you’re willing to spend
After you’ve figured out exactly what type of holiday you’re after, it’s time to have a good think about the sum you’re willing to spend in total. Include everything (from meals to airfares and accommodation) and be realistic in terms of what you can afford. Once you’ve got this number, it will be easier to figure out how much you should set aside for each day.
3. Work out what expenses are negotiable and non-negotiable
You won’t be able to have a holiday without your airfare, but that snow globe you picked up in Times Square isn’t exactly what you’d call an essential. But knowing which expenses you won’t be able to have a holiday without and the ones that aren’t really that essential to your trip, you’ll be in a better position to figure out how much you have for everything else.
4. Keep track of expenses as you go
The key to sticking to a budget while you’re on holidays is keeping track of what you spend. This can be something as informal as a list on a notepad, or as detailed as a spreadsheet on your tablet. Just having a little reminder there makes it easy to keep track of things.
5. Don’t be afraid to splurge occasionally
And, possibly the most important thing to remember is that you are on holidays so you should live a little. Don’t be afraid to splurge on the occasional meal or experience, as you will find it will probably make your holiday much richer if you do.
Related links:
6 ways to avoid the most common travel expenses
10 clever ways to save while on holidays
10 things you should never pay for on holidays