Travel budget: the 4 steps to plan your vacation and save enough to make it happen

Creating a travel budget is the best method to get the most out of your vacation. PHOTO: OMAR MARTÍNEZ/ CUARTOSCURO.COM

When they go on a trip, people seek to relax, rest and recover from the stresses of everyday life. However, several times the costs observed at the destination can generate anxiety and worry, feelings diametrically opposed to the idea of ​​pleasure and well-being with which holidays are associated.

For him, creating a travel budget is a good practice to avoid this type of inconvenience and also serves to keep your finances up to date and even to save during the trip.

“Your budget is the tool that turns travel dreams into reality,” he said. jesse mechanic founder of budgeting app You Need a Budget (Ynab) in an Insider article. “By creating budget categories for your trip, you will save money for these goalsyou’ll reduce stress and you’ll be able to disconnect completely and enjoy a trip you know you can afford”.

(Getty Images)
(Getty Images)

For all this, here they are the 4 essential tips learn how to create a budget to make your trip a reality:

1. Clear objective

“To budget your travel goals, start with the fun part: dream, research and plan,” says Mecham, who outlined the first questions to ask: “Where do you want to go? When do you want to go? How much money will the trip cost approximately?”.

With these questions in mind, it is now possible to start defining the trip itself: the destination, the money available and the duration. The first points to consider.

Doing good research before the trip will help you set your goals and find better deals.  (Credit: Digital House Press)
Doing good research before the trip will help you set your goals and find better deals. (Credit: Digital House Press)

2. Research

According to the article, it is essential to do your own thorough research by visiting sites such as Google Travel, Reddit, Facebook groups, travel blogs, travel websites and more forums They have very valuable information.

In this stage, of course, an inconvenience may appear, perhaps the desired destination is very expensive and it will not be possible to cope with it; but on the other hand, you can find another cheaper tourist place which was not considered initially.

The most important tip is to choose countries wisely. If you want to go to Singapore, Hong Kong or Japan, you are going to spend a lot more money. If you want to travel and you don’t have a big budget, go to Southeast Asia, go to Central Asia, go to some countries in Latin America,” says Drew Binsky, a travel blogger who has already visited 197 countries around the world. world.

Add to that, early research will help find the best deals. For example, if you know that flights to Paris are usually around $1,000, while there’s one for $600, you’ll know it’s a good time to buy it.

Arranging travel finances in advance will make the experience more relaxed and calm
Arranging travel finances in advance will make the experience more relaxed and calm

3. Smart strategies to save

Do a monthly breakdown It can be used to save enough money for the trip. For example, if you have estimated that the trip will cost 240,000 pesos for an annual vacation, you will need to save around 20,000 pesos per month to reach the goal.

If you have less time to plan, Mecham’s advice is to divide the amount of money required by the number of months remaining for the trip. “If the number doesn’t seem realistic for where you are now, consider delaying your trip a bit.. Keep adjusting until the monthly payment is right for you,” he says.

define a sinking fund, that is, a reserve of money set aside for a planned expense. In this case, a certain amount of money will be set aside especially for the holidays, you should never take this money for anything else unless you are in a borderline situation.

Putting money in a separate bank account This will help make it less tempting to poke around. It is recommended that you do not carry the debit card of said account and it should not be the one on which the money is withdrawn daily.

Automate savings is another way to save for a specific goal. It is possible to automate a certain amount so that month after month it is deposited in a separate account and thus forgotten about.

Setting aside money that is earmarked for travel each month is one of the best ways to reach your budget goal.  (Photo: Freepik)
Setting aside money that is earmarked for travel each month is one of the best ways to reach your budget goal. (Photo: Freepik)

4. Learn travel tips to save money

This last piece of advice, like point 3, is multiple. There are several things that can be done to save on travel and be able to meet the total expense.

The first and perhaps the most reproduced by many expert travelers is that of be flexible with dates and times. “If you have a specific destination and a specific date in mind (‘I want to go to Paris in July’), then you’re going to have to pay the price of the flight and the accommodation,” he says. Matthew Kepnes author of travel blog Nomadic Matt-, however, if you add a bit of flexibility (“I want to go to Europe in the summer”), you can find a lot more flight and hotel details, which can cut your expenses in half”.

Being flexible with flight dates and times is the first tip for getting better prices.  EFE / Victor Lerena
Being flexible with flight dates and times is the first tip for getting better prices. EFE / Victor Lerena

The second tip to keep in mind relates to the time of year of travel. It will always be cheaper to travel in shoulder seasonsThis is when fewer people travel, so flights and accommodation are cheaper. That’s not all, plus you’ll save money, you’ll travel more easily with fewer people at the attractions.

Redeem Credit Card Rewards Points It can also be used to save on travel. “My favorite way to save money on travel is to pay nothing,” says Chris hutchins, host of All the Hacks, a podcast about improving your life, your money and your travels. “I “hacked travel” around the world using the points and miles I accumulated with credit cards to fly or stay in hotels for free”.

When the flight or the hotel can be paid for with credit card points, you should take advantage of them, so it is important to know the advantages of your card and your bank.

Subscribe to a flight alert service It will also help you save money, as you will be able to stay up to date with all the offers as soon as they come out. With email or mobile phone notifications, you’ll know when airfares to your destination are low.

The last tip prepare for the unexpected. Remember that things don’t always go as planned. So you should always be prepared for a possible financial emergency.

If you travel abroad always it is advisable to find out in advance where the Argentinian Embassy is locatedwho could help you if needed. Carry emergency cash is also a good idea as well as a emergency credit card for any unforeseen event.

Hire a travel insurance It can also be a good idea because it can protect you against a wide variety of risks and financial losses. Beyond that, today having international medical coverage is almost essential to enter any country in the world, due to the Covid-19 pandemic.

Holidays are meant for pleasure, fun and rest. Taking a smart approach to planning them is a good way to not worry about finances when traveling and to be able to make the most of it.

CONTINUE READING

7 essential tips for spending less on your weekend getaways
Holy Week: full occupancy, resumption of CABA and more Aerolineas Argentinas flights
Holy Week complicated on the route: the carriers’ strike for lack of diesel affects tourist traffic

Leave a Comment