How to Budget a Summer Vacation

In lean economic times, it's important to budget all your expenses. Summer vacations are no different. As you're planning a summer vacation, make sure to give some critical thought to how you plan to pay for it all. Create a budget and look for creative ways to save money on your travel, your lodgings and entertainment costs.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Budget
• Coupons
• Groceries

1. Save money throughout the year, keeping your summer vacation in mind. The more money you save, the more money you'll have to spend later. Set target savings goals so that you'll have a definite idea of the money you'll have on hand when it comes time to plan your vacation.

2. Create a budget for your summer vacation. Make categories for each of the different expenses you'll incur (such as travel, hotels, food and tourist attractions). Estimate the amount you'll spend on each.

3. Scrutinize each category in your budget for ways to trim money. Cut corners whenever possible by turning a critical eye to your expenses.

4. Find discount coupons to help you save money on your summer vacation. Look for coupons by visiting the websites of different tourist attractions, or through promotional tie-ins with different products.

5. Plan to prepare your own meals whenever possible. The costs of eating at restaurants can add a substantial amount to your summer vacation budget. Instead, make hotel reservations at a place that offers built-in kitchen facilities, and buy your own groceries.

6. Choose your method of travel well in advance. If you'll be traveling to and from your summer vacation destinations by airplane, you'll need to book your reservations early to qualify for discount fares.

7. Stay with friends or family instead of making hotel reservations. While staying in a hotel may be part of a vacation's charm, it can also be quite expensive. The costs of staying in a hotel can be one of the biggest consumers of your vacation money.

8. Look for tourist attractions that don't charge entry fees. Visit museums that have "suggested donations" rather than admission fares. Spend a day at a public beach or take a hike through any of our nation's splendid national parks.

Tips & Warnings

• Consider booking a summer vacation to a foreign country with a favorable exchange rate. While you will probably spend more money on airfare, you'll save money on every other expense, including food, accommodations and entertainment.
• Make sure that all your passports are up-to-date before you attempt to plan a summer vacation outside of the country. The costs of getting a replacement passport on short notice are quite high.

[oneloved]

on 7/21/2008 Very sound advice! Another way to save money is to plan a "staycation". See my article "How to Enjoy A Family Vacation At Home" for more details.

[SDKP]

on 7/21/2008 That doesn't sound like much of a vacation to me.