More and more people are complaining about not having enough money for a vacation once a year. For them, the vacation is just a dream, just a crazy idea, because, for them, is very challenging to raise money for such an opportunity.
How to plan a holiday
In this article, we’ll show you top 7 quick steps to make a budget for the holidays without much effort.
This problem also arises for those who are trying to have a financially good life and, to have that, people understand that they have to stay home because it is not as expensive as going in vacation.
If you are on a budget, you don’t have to go in vacation four times a year. You should have one trip, but you should make it relaxing, fun, but at the same time, it shouldn’t affect you financial plans.
Holidays are that times of the year when everybody would love to go out of the city and disconnect from all the other problems, including work and financial issues. We will discuss how to plan the vacation financially so that you have no money problems during holidays and after.
Plan your vacation in time
Before you plan your vacation financially, you need to have a list of places you want to see. Many people have a list of places they would like to go in the coming years, and the holidays are based on that list.
At the same time, this to-do list can be a financial goal for you to integrate into your financial planning. Be flexible and realistic!
If you want to go to Dubai, but you can’t afford it, ditch that location. Be realistic about your income and possibilities when making a holidays to-do list and choose your vacation according to your financial possibilities.
Now, that you have in mind a few places you want to visit, let’s start talking about how you can make a budget for the holidays.
Plan your vacation according to your financial budget
The first thing to do is to plan your vacation within some months in advance to reduce some expenses. You can use those saved money having more fun during the holidays.
The amount you need to save monthly should be between 5 and 15% of your total income, depending on the cost of the vacation.
It can vary from 5 to 15% depending on how expensive your vacation is. We propose you to choose the least expensive places for the first time that will not affect you financially so much.
Saving a 15% percentage is quite difficult for a starter if you have a relatively low income and relatively large expenses. If you have debts it will be even harder for you. If you are in this situation, we recommend you to save about 5% of your budget for the holidays.
At the same time you can start making cost reductions by choosing other places. You can even start working extra for this holidays money, a few hours a week, at least.