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Planning Your Dream Vacation With A Financial Mindset


You've paid off all of your debt and now you are ready to enjoy life. It is time to plan that dream vacation, but preparation is your friend.

  1. Identify The Major Expenses: Usually, the major expenses are airfare, ground transportation, and lodging. Depending on where you are going as well as the expectation of service will factor into the cost. Knowing if you are staying at a hostile or 5-start resort or flying first class versus coach will be important dollars to note. A great way to get around this expensive cost particularly for lodging is traveling with friends or another couple. This way you can stay in a nicer hotel while having a room with a view.

  2. Sights & Excursion Research is A Must: When traveling, the first thing we look for are the top sights to see and experience. In Paris, it may be the Eiffel Tower while in the Philippines it may be island hopping. Understanding what these sights or even day-long excursion costs will be vital to being financially prepared to have a ball.

  3. Pocket Money For Eating, Drinking, & Shopping: Looking at what you are planning to spend per day on food, drinks, and shopping is another area that many do not think about. Going out to get food or drinks could cost you $5 to $50 per restaurant visit. Having a daily budget for these items will help structure expectations on what you are spending regularly while out of town.

  4. Travel Fund & Savings Plan: Start a travel fund! I cannot repeat this enough. My husband and I went to the Philippines and Singapore for about 3.5 weeks. It was a trip of a lifetime, but we planned for over a year financially to go. We watched flights, researched hotels, and even had a monthly savings plan for when we went. This helped a lot with our back home bills while we were gone and allowed us to have some extra spending money while we were island hopping. Having a travel fund gets rid of so much stress so you can have fun on your trip.

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