How to Plan Your Best Summer Vacation

By Vanessa Martinez
Publish Date
August 4, 2023

Summer vacation is about exploring new places, experiencing all of the attractions and having spontaneous fun. But before you head out the door, you should have a budget plan in place.

There is an easy way to budget for your vacation. In addition to pre-purchasing certain expenses like accommodation and travel, consider budgeting 20% extra for gratuities, souvenirs, and unexpected fun. 

Here are some simple tips for planning a budget-friendly vacation this summer:

Jot down the vacation activities that have caused overspending in the past (i.e., booking a kayak rental or unplanned scenic tour). 

Research what is in your area and consider one or two extra items you turn down in your budget but want to do when you get there. 

Book refundable expenses in advance when you can. On this list should be things like theater shows, theme park tickets, and bus tours. By doing this, you will have a significant portion of your vacation paid for and don’t have to worry as much about out-of-control spending while you are there.You might lose your bags, get sick, or have your wallet stolen. Having some money set aside as an emergency fund can be incredibly useful. This is especially the case if you will be traveling outside of the United States. 

By planning ahead, booking in advance, and creating an emergency fund, you will have the most expensive parts of your trip covered before you even hit the road. 

Pull Cash Out or Set a Credit Card Limit So You Know How Much You’re Spending 

Have you ever returned from a vacation and wanted to throw your debit card away? 

Spending with your debit card while on vacation is convenient, but it can become unmanageable, and you may lose track of how much you’ve spent. Plus, you don’t get rewards — credit cards, on the other hand, usually offer rewards on certain purchases and you should take advantage of those whenever possible. 

Consider creating your budget, pulling some cash out ahead of time so you can see exactly what you are spending and set a limit for your credit card. You may find that in certain spaces cash is more convenient. If it is not, then have your credit card handy (and start accumulating your rewards). 

It is a very personal decision whether cash or credit card works best for you. Use what allows you to have more control and benefit from it in the long haul. You’ll be ecstatic when you find leftover cash after the trip! Your Future Self Will Thank You for Saving a Little Extra On Summer Travel. 

Summer can be incredibly busy (and expensive). Don’t forget to take a few deep breaths and enjoy yourself! By following some of these budgeting tips, you can enjoy your summer and not break the bank. The team at Expressive Wealth knows how important it is to have money when you need to most. If you’re investing with us, know that we’re always working hard to make sure your money is earning for you. If you need more ways to grow your savings or boost your income, we can help. Your financial legacy matters and our wealth management, retirement planning, and personal financial planning services can help you. Give us a call to find out more about maximizing your wealth and planning for the future.

Wishing Everyone a Safe and Fun 4th of July Weekend! Wishing you and your family a joyful 4th of July. Take time to celebrate and create treasured memories with your loved ones. Happy Independence Day Weekend!