It is summer! So the time to plan next year’s vacation is now!
Yes – NEXT year’s vacation. To effectively plan and budget for vacations, you need to think ahead…at least 1 year. Here are some tips to get you going:
- Select your destination. Pick where you want to do. This will most likely determine your budget and the time of your travel.
- Check prices. Investigate the hotel, travel, activities etc. Do a mock reservation to get a general price guide.
- Set your budget. Once you have done the research on your vacation destination, set a realistic budget for your trip. This should be the number that you will not go over, including food, souvenirs, hotels, travel, etc. EVERYTHING!
- Set a savings plan. You know how much you will be spending and when you want to go. Figure out how much you need to put aside each paycheck between now and then to make it happen. Once you see this number you may want to adjust your travel dates to give you more time to save the money. Never go into debt for vacation! You don’t want to spend the next 20 years paying for a trip that is just a distant memory.
- Make your reservations at least 6 months out. You can often get discounts, upgrades, or the pick of the best rooms and amenities when you book in advance.
If you have done all this planning you will be able to sit back and enjoy your vacation…debt free!
TIP: When it is time to pack, check out the Master Packing List to help you get ready!