There’s nothing more satisfying than taking a well-deserved vacation. Whether you’re traveling to beaches and sunshine or jet setting to skyscrapers and fine dining, getting away from it all is on the top of most of our ‘to do’ lists in the summertime.
However, just because you’ve got a week of carefree days on your mind doesn’t mean you’ve got a ton of money in your pocket. Even though going on holiday is all about escaping the stressors of everyday life for a few days, let’s face it: we all have to face the music when we get back. Nothing will tarnish the amazing memories you made on your vacation like a stack of bills you can’t pay, so it makes sense to be as money smart as possible while you’re enjoying your time off.
While being careful with your cash on holiday is an idea most people can get behind, many struggle with coming up with actual strategies to do so. If this sounds like you, take a look at the five tips below for keeping your spending in line while you’re enjoying your R&R:
Do Some Research Before You Go
Planning your activities ahead of time is a great way to keep your vacation spending in check; about a week or so before you head out, do a few Internet searches on the city you’re visiting to see what budget-friendly options are out there. Keep an eye out for free museum nights, outdoor concerts, and arts fests – these are all inexpensive and common events in most towns during the summer months. This is also a good opportunity to sketch out a simple itinerary so that you don’t miss out on anything you really want to do.
Set a Daily Budget for Incidentals … and Track Your Spending as You Go
One of the fastest ways to blow your vacation budget is to let all the incidentals that go along with traveling add up and get out of hand. A drink here, a magazine there, and pretty soon you’ve spent way more money than you intended to. The easiest way to avoid this is to set a daily limit for your spending on incidentals and keep track of your receipts to be sure you’re not overdoing it. This may sound like kind of a drag, but just adding up your spending at the end of each day can make a big difference in keeping your expenditures in line.
Prepare Your Own Meals and Snacks When Possible
When you’re away from home, one of the biggest budget-busters most people encounter is food and drinks. This is why it’s a good idea to prepare your own simple meals and snacks while you’re on vacation whenever you can. Of course, one of the pleasures of going on a trip is experiencing new cuisine and getting out of your normal routine, so eating in for every meal wouldn’t be much fun. But stopping at a local grocery store to pick up cereal to eat in your hotel room for breakfast will save you big bucks over the course of a week-long trip compared to eating out and won’t detract from your holiday experience. Making small changes like this really add up, so think about the little sacrifices you’re willing to concede to in order to keep your budget in line.
Use Public Transit Instead of Renting a Car
Whether at home or away, cars can be a serious money-suck. If the destination you’re traveling to has a public transit system, research it thoroughly and consider using it instead of renting a car. If you’re willing to brave a new city’s bus system, this strategy could save you hundreds of dollars.
Another bonus to using public transit over traveling by car is that it gives you a chance to more deeply explore the city you’re visiting and get insider tips from a few locals. Think about it before you balk at the idea of crowded subway cars and trolleys!
Look Into Daily Deal Sites
Most of us are pretty good about perusing daily deal sites for savings on spa treatments and restaurants in our hometowns, but have you ever thought about using these tools for cities you’re traveling to? If you scan daily deal sites for interesting discounts in the few weeks leading up to your trip, you could walk away with hundreds in savings. But be sure to think beyond restaurants and bars – look for discounted tickets to museums, plays, and other activities, too.
Saving money while on holiday doesn’t have to be a nuisance – use the tips above to enjoy a fun and frugal vacation!
John Gower is an analyst for NerdWallet, a personal finance website dedicated to helping you save money with financial tips on everything from travel to the best online broker.
