Do you wish to travel this summer, but don’t know if you can afford to? Or are you planning on traveling this summer and are worried about how this will impact your budget? Many have wondered about this very statement. You are not alone, I have wondered the same. Here are a few helpful budget tips to help.
1. Shop early- although the official kick-off to the summer is around the corner, this doesn’t limit your chances to relax. Search fun travel destinations and look for off peak travel dates, this may include traveling on weekdays. For many fun in the sun destinations, early booking to save is 57 days before departure for domestic travel.
2. When it comes to airfare- Don’t buy tickets on Friday. When you book your ticket can have a big impact on your fare. Typically the best day to book your ticket is Sunday followed by Saturday. It’s also important to shop around. Use search engine websites like Expedia, GOOGLE ITA Flight Matrix, AirfareWatchDOG or Hopper. But don’t also forget to shop the airline website directly.
3. Consider a Stay-cation (stay local). Wisconsin and surrounding states within a short drive have wonderful vacation options. I agree you may have to look hard for the sandy beaches, but don’t lose hope they are here. Visit the Travel Wisconsin website to learn more about places to stay and things to do at https://www.travelwisconsin.com/
4. Budget, Budget, Budget- I admit this should have been number 1 on the list. Now that you know what you want to do, let’s check the budget. If you’ve seen some of my earlier post you have started your monthly and annual budget. You know how much money you have coming in and what’s going out. Now that we have an idea of our ideal vacation, now let’s figure out how to fit this within our budget. This is key, so many spend and take a trip without budgeting and deal with the aftermath when they’ve returned. Quickly losing that vacation relaxation glow. Let’s minimize our stress by following a few steps:
1. Know how much you will spend on this trip, and add 15% or more for incidentals (adjustments).
2. Calculate your savings time by dividing the trip budget amount by the months (or days) till travel.
3. Can you save this amount within this time? Is it reasonable?
4. What can be paid now and what can be paid in the future. Limit the amount you will place on credit. Try not to use credit to cover the entire vacation. This will minimize your after vacation stress.
5. What other discounts can you find? What can you go without? STAY ON BUDGET
6. Limit the last minute shopping. Make sure you have all the essentials before you travel. Last minute shopping can be very expensive.
7. Know your budgetary impact and plan accordingly. With a monthly budget you can easily track and save for this trip, but don’t just limit this budget to before the trip. Make sure you have a realistic projected amount for travel expenses not paid or spent added to your annual budget. If this will set you back, then consider a lower cost trip or delaying your travel to a slower month.
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Jéneen R. Perkins is a freelance accountant and consultant serving entrepreneurs, families and small businesses. She prides herself in being a Freelance Accountant, Fluent in plain English”.