How to budget your vacation
Posted on 04/04/2016
 

You find your mind wandering away from your desk to a tropical destination, imagining that white sandy beach and the clear blue sea as you are relaxing in the sun.  A vacation might seem out of reach but with the right planning and budgeting, booking your dream vacation might be easier than it seems.

We don’t want you counting every lira while you are away on vacation when you should be enjoying the moment and we know that there are quite a few things to consider before you hop on that plane, from the big costs such as airfares and accommodation to ensuring you have access to your money while you are away.


When it comes to setting your vacation budget, the following are the main items you need to consider:

Flight
Airfares are most likely to be your biggest expense. If you are travelling on a budget, keep an eye out for discounted fares or book as early as possible to try and secure cheaper seats.

Accommodation
Costs can vary widely depending on when you are going, the popularity of your destination, and of course the hotel’s ratings.  Keep an eye out on offers on travel websites or packages offered by your travel agent.

Tours
If you are planning to go on tours at your destination, set aside funds for any tours you’d like to take.  You usually can find the tour rates online which could help you set a budget. Also, you may be able to get discounts if you pre-book

Food 
Eating out for every meal can be expensive even if it’s fast food. Plan carefully to get an idea of how much you’ll be spending on food.  Do your research and find out from previous travelers to your destination, how much the average amount they used to spend on food per day.

Incidentals 
Set a budget you would want to spend on shopping, gifts, souvenirs, taxi fares (or means of transportation), and any other extras such as concerts or shows you would be interested to attend. Also have a buffer for contingencies.

Whether you are planning a short getaway or a long vacation, budgeting for your vacation is essential to ensure that your vacation is not only unforgettable but also affordable!

To find out more on how to finance your dream vacation, click here.

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