Holiday budget tips
While a few splurges are worthwhile, too many luxuries could send your budget soaring and you’ll need to wait a lot longer for your dream vacation
To transform your dream vacation into reality, you need to create a smart and realistic budget. Here are a few recommendations to budget like a pro.
TRAVEL COSTS Begin by identifying your main expense, which is likely to be the airfare if you’re heading to a faraway land. Follow this up with transportation in the country itself – do you plan to fly, take the train or catch a bus from one city to another? If you’re working with limited finances, look at not so obvious options such as ride sharing in Europe or taking ferries in Southeast Asia.
ACCOMMODATION Next, decide next on the desired accommodation (luxury hotel, bed and breakfast, hostel and so on). Then consult online aggregators to check the average nightly rates. Remember to insert the time of year you plan to travel in order to get the most accurate estimate. Finally, add daily expenses for meals, public transport and sightseeing. Some travel websites and books offer highly specific information such as the price of a meal in a fast food restaurant or the average cost of a metro ticket in the main cities. These are good reference points for preparing a budget. SPLURGING CASH Yes, it’s possible to travel halfway around the world on a limited budget. However, do allocate some money for the occasional luxury. Imagine going all the way to Cappadocia and not taking in the view from a hot-air balloon or missing out on the wacky futuristic shows in Tokyo. So budget for one or two costly activities and create a buffer for smaller splurges. For example, you may have decided to cook in your hostel or apartment kitchen as you travel across Italy but it would be a real shame to deny yourself a pizza in Naples or an aperitivo in Milan.
FLEXIBLE BUDGET While a few splurges are worthwhile, too many luxuries could send your budget soaring and you’ll need to wait a lot longer for your dream vacation. It’s easy to get caught up in a particular fantasy – so do make it a point to consider alternatives. Do you have your heart set on that beachfront villa or would you enjoy a regular ocean view room almost as much? Are you genuinely looking forward to dinner at that award-winning restaurant or would you have more fun at a less pricey and more approachable place? The more flexible you are, the sooner you’ll meet your budget.