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The Peoples Bank

How to Plan a Vacation on a Budget

The Road of Life has plenty of room for detours, especially if that means going on vacation! We all deserve a little rest and relaxation every now and then, but it can be hard to unwind when your mind’s stuck on money. Vacations can lead to overspending if you’re not careful, but believe us, you can still have fun on a budget! Here are some helpful tips to help you enjoy your time off without breaking the bank!

Do Your Research

As is often the case in life, knowledge is power! No matter where you go or what you plan to do, it always helps to know the costs in advance. If you’re going across the country, look into transportation costs to save on travel expenses! If you’re going across the globe, get a handle on exchange rates to see what places favor the U.S. dollar! No matter how near or far you plan to go, or what you plan to do, you can always find ways to cut costs by looking ahead of time!

Where to Stay

Now more than ever, you’re not pigeonholed into staying in either an expensive resort or a cheap motel when going on vacation. As more and more lodging options become available, it can save you money to opt for a local bed & breakfast. You can even plan your vacation around where you’ll end up staying, like renting an RV to go on a camping trip! If possible, be sure to be flexible with your dates as well, as lodging costs for any location can fluctuate in your favor from day to day!

Set a Daily Spend

Planning a trip means planning a budget alongside it to cover major expenses such as travel and lodging, but if you really want to save money on vacation, take it a step farther by setting a daily spending limit! Trust us, you won’t look stingy, especially considering of the most common financial slippery slopes that occurs on vacation is overspending, with an Experian survey finding that 68% of people overspend while on vacation. Just get a good grasp on where you’re going each day, plan for as many costs as you can and leave a little wiggle room for any surprises that entice you!

Going on vacation is supposed to be fun, so don’t let financial planning stress you out! On the Road of Life, The Peoples Bank is always here for you with sound financial wisdom and guidance for anything you need, including vacation planning! Give us a call at 228-435-5511 or visit our Contact Us page today!

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