What is a vacation budget template?
Vacations are fun and care-free, so the last thing we want to worry about is how much you’re spending. That’s why it’s crucial to have a vacation budget template!
This post is about a vacation budget template.
1. Set a Clear Budget
Remember, a vacation is supposed to be fun and care-free. The last thing you want to stress over is how much you’re over spending by. That’s why determining how much you can afford to spend on the vacation is incredibly important. This exercise will also help you determine whether you can comfortably afford the vacation.
2. Flights
Are you flying? Depending on what airlines you choose, amount of luggage you’ll travel with, whether it’s a direct or connecting flight, what time of the year you’re traveling, these could impact the price of your total flights. Keep these factors in mind when you’re booking your flights.
3. Transportation
Car rentals, gas, train tickets, buses, Ubers/Lyfts/ride share expenses can add up. While it can be insignificant in relation to the flight expenses, transportation is another important factor to keep in mind when planning for a vacation.
4. Hotel Accommodations
Now that you’ve determined how to get to your destination(s), the next expense to plan for are the accommodations. Are you planning on staying in a hotel or Airbnb? Maybe you have a friend/relative you can stay with and lower the cost that way? Either way, take into consideration the duration of your stay, and figure out how much you’ll have to put away for hotel accommodations, resort fees, and maybe include any tips you’d like to provide to the hotel staff during your stay.
5. Meals or Food
We’ve flown to our destination, figured out our hotel accommodations, so the next focus is food. Are you a foodie and have a few key places/restaurants you want to try? Put it in the budget! Make sure to estimate daily meal costs (breakfast, lunch, dinner, any snacks or additional drinks). Or, if you’re staying in a hotel suite or Airbnb with a kitchen, and have the capabilities to cook any meals, you can include a budget for groceries.
6. Activities, Attractions, and Entertainment
This is the expense that can vary depending on where you’re going. Are you planning on going to Disney World or going scuba diving? Make sure to include the costs of tickets, equipment/gear rentals/training courses in your budget. Research the costs of the activities and attractions you plan to partake in. Again, be sure to include entrance fees, guided tours, etc.
7. Legal Documents/Necessary Visa Documents
Easily the most forgotten expense are getting your legal documents and necessary visa documents in order. Yes, they cost money. Especially, if you’re planning on expediting some of these documents. Check your passport to make sure it’s valid during your time of travel, research any potential visas you’ll have to apply for, and include those fees into your budget.
8. Child Care or Pet Care at Home
Have a child or pet that you’re not traveling with? Another expense people forget about are the necessary child care or pet care expenses while you’re away. Figure out the duration of your stay, including a buffer (traveling may not always go as smoothly as planned), and extent of care you’re expecting.
9. Miscellaneous Expenses or Contingency Buffers
Always, always, always include a contingency buffer for miscellaneous expenses. Surprise expenses will always pop up, and it’s best to be prepared to weather those storms. Flights may get canceled and you’ll have to find accommodations for the evening. While it’s common for airlines to offer vouchers, you never know when you’ll have to put the money upfront, then request a reimbursement. So for the time being, you’ll have to provide the money first.
To reiterate, the top 9 vacation budget templates are:
- Set a Clear Budget
- Flights
- Transportation
- Hotel Accommodations
- Meals or Food
- Activities, Attractions, and Entertainment
- Legal Documents / Necessary Visa Documents
- Child Care or Pet Care At Home
- Miscellaneous Expenses or Contingency Buffers
There you have it! Interested in learning more vacation budget templates? Check this post out for all things sinking funds related!
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