4 Tips for Planning a Family Vacation Without Getting into Debt
Vacations provide ample time for families to unwind, strengthen bonds, and nurture parent-child relationships. Regrettably, vacations are unaffordable for many families. They come with expenses such as transport, accommodation, activities, and other expenses.
In fact, many people go into debt paying for vacations. Research conducted in 2017 revealed that 74 percent of people go into debt to fund vacations. An average vacation leaves you with a debt of $1,108. Fortunately, you can plan a budget-friendly vacation for your family. This article offers five tips for planning a family vacation without going into debt.
Set a Maximum Budget
Many people plan their budgets based on their destination. However, the opposite should be the case. You should plan your destination based on your budget. Hence, it is best practice to start planning your vacation by setting a maximum budget. Ask yourself, which is the highest amount I want to spend on the holiday? From there, narrow down to the list of destinations that fit the amount. You can determine the maximum budget for your vacation based on your monthly budget or annual income. Importantly, when planning to have more than one vacation in the year, break down the vacation budget to accommodate all the vacations.
Choose a Budget-Friendly Destination
There are numerous budget-friendly destinations around the world. You can use Google to search for good pocket-friendly destinations. Also, look for discounted vacation packages for some real-time savings. Ensure you account for travel fees to the destination. Remember that a destination is only affordable if it's close to where you live. For instance, if you live in California, an East Coast destination may be cheap to stay in but expensive to travel to.
You can have a great family vacation without traveling halfway across the globe. You don't have to visit the Maldives to have a memorable family vacation. Central and South America have numerous vacation options with the Maldives feel for budget-friendly vacations. The secret to getting an affordable destination is to do a little research. You can use the online resources, travel websites, and industry magazines to search for a luxurious destination for less.
Take Advantage of Off-Peak Pricing
Taking a vacation during off-peak seasons can be a great way to travel inexpensively. During off-peak seasons, you can get air tickets and accommodation at competitive prices. Also, some vacation destinations are more charming and relaxing during off-peak with few tourists around. Although the weather may not be picture perfect during the off-peak season in some locales, you still enjoy a destination for less. For example, you can book a cruise in October and enjoy good cruise promotions and lower prices.
Sometimes, taking advantage of off-peak vacation can be as simple as visiting a cold-weather location in winter rather than waiting for summer like everyone else. This way, you can enjoy great pricing and fewer crowds. It is important to note that peak and off-peak seasons vary around the globe. Do a little research to identify when your chosen destination has its off-peak season.
Plan for minor expenses
When planning for family vacations, many people account for big expenses like transportation, accommodation, and meals; as a result, they often forget minor expenses. When combined, minor costs like entertainment, public transportation, special gear, and gifts become a considerable cost. When drafting expenses, do not forget theses costs. Importantly, it is advisable to over-plan for costs as opposed to under-panning.
During family vacations, entertainment expenses can be high. Fortunately, there are ways to reduce entertainment costs. For example, games can be inexpensive ways to pass time and have fun. Do not forget to pack the cards and dices when traveling. In addition, consider using a portable streaming device during your journeys. While traveling keeps your kids busy during the day, the streaming device will keep them occupied at night, and you can stream their favorite music, movies, and TV shows on the go. Since there are many streaming devices in the market, research the best one that meets your needs and fits your budget.
A vacation in your dream destination is worth it, but going into debt is not. Although vacations are expensive, it does not mean you should never plan for one. You can have an awesome vacation without going into debt or breaking the bank. Use the tips outlined in this article when planning for your next vacation, and you will be surprised by how much you save!