10 Great Ways to Make Sure You Aren’t Worrying About Finances on Your Vacation

It’s the era of revenge travel and finally going on that trip you’ve longed for all these years. A recent consumer survey found that 49% of people plan to travel more in 2023.

Just because inflation makes things pricier doesn’t mean you are entirely barred from travelling. As long as you prep your finances with the proper steps, you should still be able to go on vacation without worrying about affording it.

 

 

 

 

1. Start Saving in Advance

Give yourself enough time to save enough money to afford the trip you want. It may mean waiting a while compared to jumping the gun, but you’ll be comfortable knowing you’ll have enough for everything you need. It’s even more satisfying because you don’t have to make as many concessions to make your trip work.

 

 

2. Consider Getting a Travel Credit Card

You may want to get a travel credit card for the benefits if you have good credit. This can help you earn rewards as you travel, get priority boarding, and potentially get discounts from their partners. Remember the difference between hard Vs soft credit checks before you apply.

Credit card companies will do a hard credit check, which stays on your report for up to two years and temporarily lowers your score. If you want to check your credit report, this will be a soft pull that doesn’t affect your score or show up on future statements.

 

 

3. Pay Off High-Interest Debts First

You don’t want to travel if you are carrying too much debt. This will make it harder to keep up with payments and bog down your enjoyment on vacation. The average household in America has obligations, so don’t panic if you can’t completely wipe off 100% of your payables before your trip.

A good principle is to start with whatever debt has the highest interest. If you follow the snowball method, you may also want to get rid of the smaller debts first to allocate more money to the bigger ones.

 

 

4. Look for Vacation Deals

You can get plenty of discounts and packages if you look online. If you’re going on an extended trip, you can even find furnished apartments that are cheaper to get for more extended stays. You might also want to look at all-inclusive packages to get the most.

 

 

5. Book Flights Early

Flights are more expensive now, with ticket prices up 25%. However, you can still save by booking ahead of your planned trip. If you’re going domestic, try to book a few months ahead. If your travel is international, you may go as early as half a year ahead.

 

 

6. Try to Get Travel Insurance

You never know what might happen out there. You could lose luggage, get sick, or have an emergency. Either way, travel insurance protects you from paying more than you have to in the event of unexpected hurdles.

 

 

7. Map Out Your Budget

The best way to prevent a financial dilemma on vacation is to map out your budget before you get there. This should cover your flights, accommodations, and daily expenses like food, transport, and entertainment.

 

 

8. Look for Free Activities

There are many amazing things to see when vacationing in beautiful places like Kuala Lumpur, Nepal, Italy, and more. It’s just about taking the time to seek them out and learn about the local culture. It’s worth the effort to save and still get a fulfilling experience.

 

 

9. Cook Your Own Food

Dining out can be very expensive. Learn a few satisfying home-cooked meals and save hundreds of dollars on food daily. You’ll even have a little extra for some fun snacks now and then.

 

 

10. Take Public Transport

It’s always cheaper to take public transport regardless of what country you’re in. Just make sure you do your research and ask around so you don’t end up getting lost. It may seem overwhelming initially, but many helpful guides can help you.

 

 

A Recap on 10 Great Ways to Make Sure You Aren’t Worrying About Finances on Your Vacation

Having the right financial plan for your vacation will remove any stress and worry and give you the peace of mind to enjoy and make the most out of your holiday.

You need to budget appropriately, make use of ATMs when possible, travel wisely, keep a record of transactions, prepare for currency conversion fees, ensure you are sufficiently insured, be aware of local restrictions regarding money transfers, know where to find customer service help if needed, understand how to protect yourself from credit card fraud and identity theft, as well as avoid exchange rate markups on both the buying and selling side wherever possible.

So get ready to plan and relish recreationally! With these financial strategies under your belt, you can do just that. Start planning now so that when it’s time for YOUR break from reality, you’ll be able to relax without worrying about money daily.