How to save money for your next vacation
When people are on vacation, they tend to let loose. They become a more relaxed version of themselves and so many of the rules that are strictly observed at home are thrown out the window from the moment we board the airplane. Suddenly we are the type of people that sip pina coladas at nine in the morning, and we let the kids wear their swim clothes to bed.
The same goes for vacation spending. Budgets break down, and all of a sudden you are spiralling out of control and the damage is only really assessed when you get back home. This can be prevented with a little planning.
1. Save before you get there. Be sure to get a great deal on your vacation package. Comparison shopping on the internet can reveal some good bargains on vacations that can include everything from the accommodation and tours to simply finding the cheapest flight. If you are not internet savvy, enlist the services of a good travel agent that can help you find what you are looking for.
2. Travel in the low season. Different destinations have different peak seasons. Travelling in the less popular period can get you big savings on everything from accommodation to tours and all inclusive options.
3. Get what interests you. There is no point in paying for an expensive all inclusive package if you don't drink alcohol, or prefer to explore the destination yourself and pick things up along the way. For a vacation of this nature your money is best spent on a small hotel offering maybe a simple breakfast included option, so you can start your day exploring your new locale on a full stomach. Paying for more than you need or more than you will use is an easy way to throw money down the drain.
4. Research typical expenses. Finding out the cost of renting a car or hiring a taxi and the typical cost of a meal in the areas surrounding your hotel before you get there is a good way to plan your budget for the trip. www.frommers.com is a good resource for getting an idea of these kinds of expenses, and they cover a wide range of locations.
5. Don't convert too much cash. When planning your budget, find out what is best paid for in local currency and when it is best to reserve your dollars. For instance, if you are taking a trip to the local market you may want to have local currency as you may end up paying too much for items that need to be converted. Converting too much cash though is also a problem, because chances are you will lose on the conversion back to your local currency and the exotic coin will be practically worthless in your home country.
6. Find the non-tourist areas. Tourist destinations are designed and marketed to keep tourists entertained in one main area, which is typically the most expensive region of the country. Venturing beyond the borders can reveal lots of bargains with the added benefit of getting a true taste of the local culture. Of course, you should ensure that it is safe to do this before charging out into the unknown, but generally you can meet some nice people and get some incredible deals by walking a few miles out.
7. Learn to haggle. In most places street vendors like to negotiate with the tourists. It may even be expected. Don't miss out on maximizing your vacation budget by shying away from trying to get a better price on your souvenir.
8. Factor in entertainment costs. You are on vacation and it's time to kick back. By doing all the research and number crunching at home you can be sure there will be minimal financial surprises and you can simply go out and enjoy.
9. Stay with friends or family. If you have friends or family at the location stay one or two nights with them to save on your hotel bill. This can really make a difference in your budget overall.
10. Finally you need to start a vacation fund. Now that you know the type of vacation you would like and how much it would cost, you need to start stashing the cash. Set a realistic deadline to take the trip and set aside some money from each pay check. To boost your vacation fund, you can also take on some extra work or private jobs if you would like to make the trip sooner than your ordinary finances would allow.
Nobody likes a holiday drill sergeant. Vacations are an opportunity to leave your worries behind, but they should not be allowed to create bigger problems for you when you get back home. Avoid the unpleasantness of maxed out credit cards and overdrawn accounts and come home with only great memories of your trip.