How to Budget for Your Next Family Vacation

Posted October 27, 2019 by in Lifestyle

    

Many families go on vacation to relax, unwind, and escape the hustle and bustle of daily life. Jetting off with the kids should be something to look forward to rather than dread, so having your finances in order before you set off is important. Whether it’s by creating a budget or having an emergency fund in place, here are a few ways to budget for your next family vacation:

Create a Budget

While you may think that you should plan your budget based on where you’re heading to, it’s quite the opposite. Some destinations are more expensive to travel to and stay in over others, so it’s important that you set a budget that you can stick to.

Unlike in the past where you may have only had to think about yourself, this time around you have your kids in tow, so factoring in day-to-day expenses is important.

Booking a Flight

There are various travel comparison websites that you may want to use such as Skyscanner, which can help you find the best deals on flights. There are also apps like Hopper which can advise you when the best time is to book your flight. There are some airlines who provide discounts to children under 12, but this tends to be only if you’re flying internationally.

To take advantage of discounts, you should directly contact your airline, who can provide you with more information.

Choosing Your Accommodation

No matter where you go for your family vacation, you will want to find accommodation that’s comfortable and affordable. Whether you pick a hotel or stick with a family resort, there are so many options. To help make things easier, you can research the prices of hotels in your chosen destination, as well as check out guest ratings and reviews.

We all want to save as much money as we can, so the earlier you book, the more chance you have of securing a discount or promotional offer. 

If you didn’t plan ahead and your vacation is only a few weeks or months away, you may want to book an Airbnb for your accommodation instead. If you book an Airbnb, there will most likely be a kitchen, meaning you can cook your own meals. Cooking while on vacation with your kids will save you so much money; even if it’s only one meal a day.

Plan Your Activities

When planning your family vacation, you should create an itinerary that can outline all the activities and excursions you plan to do while away. Getting an understanding of ticket prices and admission fees for attractions can help give you a better idea of how much money you will end up spending throughout your trip.

While it’s always good to plan ahead, the last thing you want to do is obsessively schedule every little detail by the hour.

Have an Emergency Fund

Vacations are full of surprises (good and bad!), so while you may feel you have enough money to cover the trip, problems can occur. A credit card is useful, but if you have bad credit, it’s hard to find a lender willing to give you one. One alternative is to take out a small loan. To give you extra peace of mind, you may be interested in taking out a payday loan with bad credit from LoanPigUSA which you can use as an emergency fund.

Planning your vacation well in advance is important. Whether you’re off for a few days with the kids or a couple of weeks in the sun, creating a budget that you can work with, finding suitable flights and accommodation, as well as having an emergency fund as a backup are just a few ways on how to budget for your next family vacation.

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