5 BEST Money Tips To Make Your Vacation A Success

I know this is a topic on many people’s minds when planning a trip. If you struggle with budgeting during planning your next vacation, that’s why I am here! Budgeting comes naturally for some, but it’s a distant concept for others. Don’t you worry! I’m here to help you with some money tips and ways to plan for your next vacation!

It can be hard if you don’t know where to start. My goal is that these concepts will help give you a better understanding and foundation for planning trips and enjoying life! Married to someone who works in finance, I’ve gained some helpful financial insight along the way and want to share the knowledge that I have learned!

Follow this step-by-step guide to saving for your next trip. Before you know it, you’ll be traveling bougie on a budget! See what I just did there 😉

Concept 1: Pay yourself first!

Um, excuse me… huh? Confused yet? lol

You want to make it a priority to save for your future. I know I know- You’re reading this wanting to gain insight about paying for a trip and instead I’m talking about retirement!

The years will go by fast so it’s important to save for retirement and your future! Many people struggle with having a balance between spending and saving. Use the 50/30/20 budgeting rule. Let me explain….

50/30/20 Budgeting Rule

• 50% of your budget is allocated to needs and essential expenses.

• 30% of your budget is allocated to wants and fun.

• 20% of your budget goes towards savings and financial goals.

So of course, I’m all for traveling and having fun. I wouldn’t be writing a blog about traveling if I wasn’t! I want everyone reading this, however, to set themselves up for success. As you budget your next vacation, consider this 50/30/20 rule to help you plan out your expenses.

Concept 2: Save That Dollar

There is an old saying: “a dollar saved is as good as a dollar earned.” Remember this saying. Every dollar you can save helps make your hard earned income go further. Spend the time doing your research, hunt for those deals, and watch the savings pile up. Sometimes, depending on life circumstances, it is easier to save money than to earn money. A few simple ideas below…

• Start a piggy bank – throwing spare changes in a jar will add up over time.
• Coupons! You can find coupons for almost everything.
• Cook more meals at home. It sounds simple but more often than not when life gets in a hurry we settle for fast food and dinners out. Find the time to meal prep and eat more dinners at the family table.

These few ideas can add up to hundreds of dollars a year or more and can help you save up for that next dream vacation!

Need help on bargain hunting? Don’t worry- We got your back! I’m big on searching for the best deals. For travel tips, click here.

For your one stop shop to compare best deals for hotels and airfare, check this out!!!

Concept 3: Keep All Documents Updated

Prior to going on vacation, make sure all important documents are up-to-date! It is highly recommended to review and/or update beneficiary designations and your will (if you don’t have a will make it a priority to get one) prior to any trip.

Most estate plans also include a Power of Attorney and Healthcare Proxy. These are important documents to have in place. Having your “financial house in order” is important, but even more important when traveling.

Hopefully this doesn’t ever come into play, but having these documents and everything up-to-date is wise. If you don’t have any of these documents, an estate planning attorney could help. Sometimes local credit unions have discounts and relationships with attorneys.

Keep these documents in a safe place. A bank safe deposit box is one idea on where to keep important documents.

Concept 4: Review What Is In Your Wallet

Prior to your trip, review what credit/debit cards you will be using. Let your credit card company and bank know where you will be going and the dates of the trip. Nothing is worse than having a card get declined because of suspected fraud! Let the banks know so that you are on the same page. Additionally, it is wise to take a mental “note” or make an inventory of the contents of your wallet in case it is lost or stolen. It is usually wise to keep some spare cash or an extra credit card in a separate bag or in the hotel safe.

Prior to an international trip it is also wise to take pictures of your passport.

Concept 5: Set Up Automatic Payments

Set up automatic payments for your household bills. It is easy to forget about paying a credit card or other bill when you are sitting on the beach or hiking in the mountains. You don’t want to inadvertently lower your credit score or get hit with a late fee by missing a payment. Some companies offer automatic payment discounts. Make sure there is enough money in your bank account to cover these expenses while you are on your trip. You don’t want to get hit with any overdraft fees! Most companies will allow you to set up email or text alerts when bills are paid.

Full Disclosure: The opinions expressed in this post are intended for general information purposes and is not intended to to be considered financial advice.

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Recommended reads:

How To Simplify Planning Your Next Vacation

And please do me a little favor and share this article with others, for there’s a good chance that it will help them with their travels!