Budgeting Travel in Tough Times
If your vacation travel is an important part of your family’s well-being then you’ll want to protect it from being sacrificed when your family budget is under stress. Use the suggestions below for preserving a vacation budget in tough economic times.
Don’t misunderstand trip insurance in terms of believing it will enable you to undo vacation plans you made simply because you changed your mind. Most trip insurance only provides coverage for unforeseen events such as illness or job loss rather than providing you with a prolonged opportunity to cancel vacation plans you made in advance.
If you believe you will have to cancel your vacation plans because of financial concerns, find out the policies of the airlines, hotels and even rental car companies regarding cancellations as soon as you begin considering cancellation. For your next vacation, carefully read cancellation policies before you schedule your travel since these policies can vary among different companies. If you are considering a trip to the UK then you would need to find suitable Gatwick hotels with parking to make sure that all of your plans run smoothly.
If you’re not comfortable with the reliability or sufficiency of your vacation budget, plan less expensive and more local vacations than you might otherwise in order to reduce your stress in having to pay for an expensive vacation. Travel expenses can be significantly reduced by exploring destinations close to home.
Consider different vacation destinations that are less expensive than the ones you originally chose for your vacation. It’s frequently easier to change destinations than it is to try to visit the same destination at an off-season time of year for both scheduling purposes and for enjoyment while you’re on vacation since your activities at a vacation spot are different in the off-season from the peak season.
If you know that you’re going to have less money, much like the recent payroll tax increase that will affect many Americans by reducing their paychecks by an additional two percent, try to save that amount of money in your spending during the course of the year in order to preserve your vacation budget.
Prioritize ongoing vacation budget saving and keep that money apart from your household accounts in order to determine the actual money you have to spend on vacation rather than using estimates. When it comes time to book your vacation, stay within your vacation budget.
If you have extra time during the day, consider getting part-time employment to supplement your budget and pay for your vacation. This employment can include taking on seasonal assignments during the holiday months when retailers hire more staff.
Beware of booking pre-paid accommodations unless the savings you’re getting by pre-booking are substantial and you’re very sure that you’ll likely be able to travel to the destination where you’ve reserved accommodations. Pre-paid discounts can range from significant to minor, and frequently include the provision that cancellation is not available versus usual reservations at hotels that frequently allow for no-penalty cancellation up to days before your scheduled arrival.
Budgeting for a family vacation in the face of budget strains can require you to make some adjustments in travel plans. Use the tips above to budget for vacation travel in challenging economic times.