How To Budget For Spring or Summer Break
Students and families alike find spring or summer break the perfect time to take a trip. Here are some tips for budgeting for your ideal vacation.
Spring or summer break can be the perfect opportunity to interrupt the monotony of the season and seek sunnier shores or a new adventure for students and families alike. Any big trip takes planning and, of course, the financial backing to make it possible.
Whether you're currently searching for last-minute deals or are already planning ahead for next year, here are some ways you can budget for a spring or summer break that exceeds your expectations.
Before you go
In the months or weeks leading up to booking your getaway, take steps to save money and put it toward your ideal vacation.
Make a monthly budget: Budgeting for spring break doesn't mean living on the bare-minimum until your trip. Money Under 30 recommended creating a monthly spending plan that's realistic, yet cuts down on unnecessary purchases. You can still live with your normal routine, but being aware of how small things can add up over time will help you save money in the long run. While you save, work on creating a plan for how much you'll spend on your trip per day.
Cut down on unnecessary expenses: Having a budget will help make you aware of areas you may be spending too much, like buying lunch every day. Consider downloading a budgeting app or speaking with your financial advisor to craft a plan that will help you meet your savings goal.
Cutting out unnecessary expenses from your monthly spending can help you save for your ideal getaway.
As you book
With your finances in order, it's time to plan a trip that you can afford. To get the most out of your savings, be on the lookout for deals as you book.
Think outside the box: While you may be tempted to flock to a white sand beach with warm waters, you may want to consider an alternative spring or summer break destination to make your budget stretch further. You may find last-minute deals to Europe that are comparable in price to flying to Cancun, reported U.S. News and World Report.
Take advantage of student discounts: If you're in college, don't forget to look for vacation packages or areas where restaurants and attractions offer a student discount. Many museums in Europe offer free entry to students, so make sure to always bring your student ID on your spring break.
While you're away
It's never to late to save money on your trip. Even while you're on your getaway, you can find easy ways to save.
Cook meals yourself: If possible, book accommodations that have kitchen space or offer complimentary breakfast. Try to aim for only going out for one or two meals a day while on vacation to help extend your budget.
Use public transportation: Grabbing a cab may be convenient in the moment, but transportation costs can easily add up over time. Instead, CNBC recommended travelers utilize public transportation as often as possible. Buying a day or weekend pass can be a cost-effective way to explore your destination and get around.
For more information on creating a personal budget and help managing your savings, contact your local Vectra bank representative today.