How to Successfully Budget On Vacation

Your bags are packed. Your hotels are booked. Your rental car is reserved. But is your budget set? Keeping an eye on your money while you’re traveling and on vacation is key to making sure you’re able to enjoy yourself and keep your finances under control.

Put it to Paper

While you’re in the planning stages of your vacation, make it a point to jot down what you think your expenses are going to be. Are you going to need to put gas in a rental car? How much are you looking to spend at restaurants? Are you bringing back any souvenirs? All of these expenses seem small when they’re on their own, but when you let them add up, you’re on a fast track to overspending.

By putting together a written budget, you are able to know exactly where you’ll be spending your money and how much you’ll be spending in these places. This doesn’t necessarily mean you need to know which restaurants you’ll be dining at ahead of time, but knowing that you won’t be spending over $400 on food while you’re in the Florida Keys or keeping your Hawaiian trinket collection to under $100 is a great way to stay on top of your finances.

Create Confidence with Cash

You’ve got a budget planned out. Great job! The planning part is complete. The only thing that’s left is to spend your heart out! (Responsibly.) Cash is the easiest way to do just that. A cash envelope system will make sure you’re keeping track of your money, and only spending set amounts in certain categories.

Another benefit of the cash envelope system is even with your finances split into different categories, the maximum amount you can spend is still set in stone. A word to the wise—put more money than you think you’ll need in the food section. While you’re traveling, you’re sure to find plenty of exciting restaurants and enticing local cuisines that will catch your fancy.

Now that you’ve got a grip on your green and know how to keep your cheddar in check, you’re set to have a memorable vacation and come back to a stable financial situation. For more ways to make the most of your money, be sure to like Lennar on Facebook.

Anna Young