By Daniel Rodriguez | Dr. Budgets
Many of my clients make it a priority to have a travel budget in their spending plan. And for those of my clients who love to travel…I encourage it! Paying down debt or building up savings is rewarding, but it is not very much fun if it is the only thing you are doing. Achieving your financial goals has to be balanced with living your life, and spending money on the things and experiences that bring you the most joy. And there is a way to do both if you plan properly.
Since travel season is upon us I thought I would share a few tips on how to stretch your travel budget…
Stay close to home. If you live in a nice city like I do, in beautiful San Diego, sometimes a stay-cation can bring all of the same benefits (if not more!) of going to some far off land. Don’t get me wrong, I do enjoy visiting Europe (my wife and I go every two to three years) or Hawaii, but not every year. Staying close to home allows me to enjoy more of my vacation because I don’t lose a day each way traveling. It can also be less stressful and overwhelming because you don’t have to worry about packing everything (if I forget something I can drive home to get it) and I don’t have to deal with airline security and flight delays. Another option is to take a road trip to a nice place nearby that you enjoy. Staying close to home allows you to spend more of your travel budget on other things, or save that money for another vacation!
Eat out less. Food costs can quickly add up when on vacation. Especially if you are eating out for breakfast, lunch, dinner, and snacks! What my wife and I typically do when we travel is we have one big meal per day at a restaurant to make the meal more special for us. For the other meals, we buy food at a local grocery store and prepare the meals in our hotel room. Remember to bring plates, bowls, utensils, and napkins from home or buy them at a local store. We forgot to do this once and it made things very interesting! We also buy snacks that we can eat while we are out sightseeing.
Know airline carry-on rules. Read the airline carry-on rules before you leave on your trip. I learned this on a trip within Europe when we flew on a budget airline. I had a standard sized carry-on suitcase that is perfectly acceptable in the United States, but on this airline, it almost wasn’t! Before boarding the plane, every passenger was required to place their suitcase in a bin to show it wasn’t oversized. If it didn’t fit, you had to check the bag and pay 50 Euros per bag. There was a couple in front of us who each had a bag that didn’t fit. 100 Euros…poof! And the flight itself only cost about 40 Euros. I pushed my suitcase in, wiggled it, and was barely able to make it fit. 1/8 of an inch larger and I would have been out 50 Euros! Lesson learned.
Save on souvenirs. Skip the tchotchkes in favor of something you’ll actually use and enjoy. My wife and I collect a postcard from each location and keep them in a large glass vase. We love seeing them day-to-day and take them out to relive our adventures! I have nothing against snow globes and bobbleheads, but I prefer the postcards.
Remember why you travel. Everyone travels for different reasons – some to relax, some to reconnect with their families, and others to see the world. As you make your plans, and also while you’re on vacation, remember why you travel. Will the purchases you’re considering add to the experience? Let’s say you booked a vacation to relax and unwind – you probably shouldn’t fill your days with expensive excursions that could leave you exhausted. Stay poolside with a book instead! Or, if you want to connect with your family, then you may plan walks around the city to find the best ice cream instead of seeing a movie.
So these are my travel tips for you to get the most out of your travel budget. For more travel tips this month visit our Facebook page. And for more general savings tips download my free eBook. Happy and safe travels this summer!