How to set a realistic vacation spend and stick to it.
You’ve saved long and hard for an awesome holiday. You’ve dreamed about this for months and now the time is about to arrive. You can’t wait to get started on your trip and have the time of your life. You’re counting the days… hours… minutes… Your head’s about to explode with excitement!!!
Hang on. Something’s missing.
You’ve planned everything except the budget!
Most people have a rough idea of how much they can spend on their holiday, but when you actually arrive, it’s so easy to relax and let your ‘rough budget’ blow out by a lot more than you expected — leaving you paying off your holiday for a lot longer than you thought.
So, here are some smart Gimmie Tips to help you plan the budget for your next getaway, and get away with it.
Tip 1: Create buckets for different categories of expenses.
Make a list of everything you think you’ll spend money on before you go. This includes souvenirs, eating out (and gratuities – that’s tipping — if you’re headed to some overseas destinations), travel insurance, entry fees for attractions and entertainment, and transfer costs to and from airports and hotels.
Drop each expense into its corresponding bucket. This is a great way to really get the big picture on your expected spending habits while you’re away. Make sure you account for unexpected extras and allow yourself a bit of a buffer!
Tip 2: Book experiences ahead of time.
Booking ahead, wherever possible, can mean saving big cabbage (or whatever the local currency is).
Tip 3: Research getting around.
It’s well worth doing some research before you go about the best way to get around once you’ve reached your destination. Sometimes, it can be more cost-effective to rent a car than it is to catch public transport, taxis or rideshares. And knowing the cost of airport and hotel transfers will help you avoid little ‘pocket shocks’ along the way.
Tip 4: Plan where you’ll be eating.
Food can be one of the biggest expenses on a holiday away. Looking up the menu ahead of time can help you budget better for meals. Look for experiences where food and drinks are all-inclusive — that way you don’t end up spending extra while you’re out and about!
Tip 5: Enjoy yourself more, because you’re not worrying about money!
It might sound like a drag to do all this work after you’ve slogged so hard to save for your holiday — but you’ll appreciate it so much more when you get there. With your budget plan taken care of, you’re free to really relax and enjoy yourself.
Budgeting for your holidays is a lot like budgeting for other big buys’ in life.
Gimmie is committed to helping our customers spend responsibly, and plan their budgets to achieve their goals. With Gimmie, you can get what you want or need now, while accessing convenient and affordable payment plans to pay those big buys off over time.
To plan your next big buy, check out our “How much can you spend with Gimmie?” calculator.
Bon voyage!
