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How to Financially Plan for your Summer Vacation


As enjoyable as a nice summer getaway can be for you and your family, there is no doubt that planning for a big summer vacation can be exhausting and costly. Trying to provide the best possible experience and avoid breaking the bank can be difficult at times. But don’t worry! Planning is the best way to alleviate stress that can come with a summer vacation. Below we have outlined a few tips that can help you avoid some stress and anxiety when preparing for that dream summer vacation!

Budget FIRST

As with anything you do financially, you need to start with a budget! Analyze your finances and figure out a reasonable cost that you will be comfortable with during the planning process. If you begin budgeting early enough, you can begin to allocate money from your paychecks to a savings account that will help you establish a vacation fund and make your planning a lot less stressful.

Prioritize expenses

Once you have established a budget, begin prioritizing the expenses for your trip. For illustration purposes:

1. Lodging Costs
2. Traveling costs
3. Food
4. Activities

Get as specific as you possibly can here. List out the activities that you think you and your family might be interested in partaking in and prioritize them individually on your list. It is important to consult others when making this list as well and gain a consensus on the most important aspects of the trip.

Research costs

Now you need to begin doing your research. If you plan a vacation far enough ahead, you can often times find discounts on some of the activities that might be on your list. Often times you will find early bird discounts or maybe even some Groupons for hot spots like amusement parks or museums.

Also, keep a detailed spreadsheet of all of your expenses, because you might find that in some areas where you have saved money you now have more money to spend on other activities or on better lodging. Saving a little bit of money here and there can go a long way towards you utilizing the maximum potential of your budget!

Book early

There is very little more satisfying than feeling like you are ahead of the game when it comes to booking your summer vacation. Booking early can help you access better prices and ensure that you aren’t scrambling at the last second and potentially having to spend more out of desperation. Preparation is vital to your own peace-of-mind!

If you haven’t started already, start planning NOW for your summer vacation. Begin your research on lodging prices and traveling costs. And determine which activities are most important to you and your family. While the planning process can be stressful, it all pays off in the end with a beautiful vacation. Happy traveling!

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