What Should You Prioritise When Budgeting for a Vacation?

It’s common knowledge that travelling can be expensive. From the journey you’ll have to take to the food you’ll eat, you’ll have to account for several factors when planning the budget for your much-awaited break. While it’s advisable not to overspend on your trip, you wouldn’t make the most of your vacation if you were too strict with your spending, either.

The truth is that some trips require a more strategic approach to expenses. Otherwise, if you’re not careful about planning your budget, you could end up with depleted savings. That’s something to take into consideration when you’re choosing between a week-long break in a nearby area or a month of cross-country travel. Another thing to consider is where to get the best exchange rate when you buy Euros and other currencies online. You may also need to make compromises if you plan to travel internationally on a budget.

The key to proper budget planning is knowing your priorities. To be able to follow these priorities, you need to know which parts of your vacation you wouldn’t mind spending more money on and which parts you would rather scrimp on. To help you plan your next vacation with ease, here are some tips to consider when determining your budget priorities.

Accommodation

One of the most important things to consider when planning a budget is where you’ll be staying. Are you leaning towards luxury accommodation, or are you willing to go with the cheapest possible option? Do you prefer homestays over hotels? The type of property you choose for your accommodation will account for a large part of your travel funds.

Another factor to consider when choosing accommodation is distance. Some travellers prefer remote hideaways while others are partial to properties that offer convenient access. Some vacationers even prefer accommodation near airports so that it will be easy to rest and freshen up after a flight. In Singapore, for example, you can book a Singapore Airport hotel with ample amenities as well as flexible check-in and check-out times to suit your flight schedule. This will be beneficial to travellers who intend to rest comfortably during layovers.

Transport

How you’ll get to your destination should also factor into your budget planning. For instance, travelling by air is often more expensive than road travel and might take up a big portion of your funds. If you’re journeying to countries with specific visa regulations, you should also consider the cost of arranging travel requirements.

Cruise travel can also be costly and might be better suited to vacationers who would choose a leisurely experience over speedy travelling. Train travel is also common in some countries, and there are usually options for scenic trips, albeit at a higher cost and a slower pace.

To put it succinctly, you need to decide between luxurious options and economic alternatives when calculating your travel costs. For example, you may have decided that you’ve saved up enough to book a first-class flight or bus ride. If you’re on a tighter budget, you’ll need to consider cheaper (and often longer) travel options.

But aside from travelling to and from your destination, you’ll also need to plan how to get around the area. Make it a point to determine factors such as whether most places are reachable on foot or require a few minutes of road travel. Then, think about whether you prefer taxis and rideshare services or would rather drive on your own via a rental car.

Some countries have free mass transit which will allow you to save money on efficient transport. In addition, countries like South Korea offer special public transport cards designed specifically for tourists. If you think you can rely on the country’s public transportation system to take you around, and if you actively want to save money on transport, you can opt to go around by train, bus, or another form of public transport rather than via car or taxi.

Attractions to Visit

It goes without saying that the places you intend to visit play a major role in your budget planning. Attractions such as theme parks and resorts require an entrance fee, but sometimes, such places also offer discounts depending on the season and guest headcount. If the core purpose of your trip is to participate in an event such as a concert, you should put ticket prices among your priorities and balance out your budget accordingly.

If you want to visit must-see attractions within a neatly planned schedule, you may want to purchase an all-inclusive tour package. Aside from potential promos and discounts, you may benefit from having most aspects of your trip, including accommodation, already covered for a fixed fee. This could make planning easier as you’ll already have an idea of the projected cost for your whole trip.

Food and Additional Expenses

Of course, you can’t go on a vacation and not try out the local cuisine. If your trip revolves around food, you need to allocate a portion of your budget for trying out the menus of various eateries, restaurants, and food parks.

You should also consider the shopping you might do on your trip. For example, you may want to splurge on extra clothes or souvenir items for friends and family. If you’re travelling internationally and want to spend most of your time shopping, it would be wise to know the current exchange rate. You may have to spend a little more in countries with high exchange rates, but you can check out duty-free stores that allow you to save a bit more. However, if shopping isn’t really a priority, you can skip the pricier items and go bargain-hunting instead.

Lastly, when considering expenses, you should also think about emergency costs. Setting aside money for unforeseen circumstances should be a part of your budget, too, especially if you don’t have travel insurance.

Plan Your Way to a Memorable Vacation

Planning a vacation can be stressful. But once you know what you want to get out of your trip, the rest of the planning process should be easier on you.

To help you better calculate travel costs, it would be a good idea to make a comprehensive itinerary that includes the expenses you might make en route to your destination, during your vacation, and on the way home. Doing so will help you discern your non-negotiable travel experiences and build your budget around these activities.

Regardless of your vacation priorities, the most important thing is that you stay comfortable throughout your trip. Manage your budget wisely, and spend on the things that will make your trip fun and worthwhile.