Budgeting For A Family Vacation

Find great tips on budgeting for a family vacation of a lifetime!

If you’re like us, you’re ready for a family vacation. Summer is always a good time to get away, and we know vacations with the family can get expensive, but at the same time, they are very needed. So, if you’re ready to take the family on vacation but can’t quite see how it’s possible, with some planning and following these tips to budget for a family vacation – it’s pretty doable. Let’s get you to stretch your funds to maximize your travel experience!

Tips On Budgeting For A Family Vacation

Step 1: Figure out your overall travel plan.

Ask yourself these questions.

1. Where do you want to travel? Abroad, Disneyland, or anywhere in the Lone Star State!
2. What time of year do you plan to travel? Summer, spring, fall, or winter.
3. What do you plan to do when you get there? Any activities, new experiences, or attractions?
4. What type of lodging will you need? Do you want a place that has free meals? Do you prefer a hotel or a short-term rental?

Answering these questions will give you a great head start toward the next step.

Make A Rough Estimate For Your Trip

Step 2: Calculate the total cost of your trip.

You’ll need to research the costs of the transportation, lodging, food, and activities to estimate the total amount you would need to spend if you paid cash (hint) and included everything on your wishlist (another hint). Now, you can plan backward from here to reverse engineer your trip.

Using cash is much better in the long run. Sometimes, that’s doable, but if not, ensure you can reasonably pay off the credit cards.

Start Saving For Your Family Vacation

Step 3: Determine how much you can save monthly for your trip.

Divide the total cost by the months until the trip to determine how much you need to save monthly. You can allocate this amount to your travel fund if you have room in your monthly budget.

If you’re like most people, you either don’t have extra money to spend on travel or don’t like paying “retail” when you can get a discount or make small sacrifices on your trip.

This brings us to the other side of the family vacation budget, where you lower the trip’s price from your original estimate.

Ways To Reduce The Cost Of Your Family Vacation

Step 4: Use points instead of or in combination with cash.

If you already have credit cards with points and rewards, figure out if you have enough to cover your entire trip or at least a portion of it. There are reward cards for hotels, airlines, gas, and lounges that may lower your food costs during travel. Some rewards programs don’t involve credit cards (train, car rental, rideshare, etc.).

Scope Out Travel Discounts And Promotions

Step 5: Look for promotions to reduce costs. 

Promotions can include discounts on hotels, food, bus tours, and attractions. A simple web search can often reveal many travel discounts.

Cruise lines may occasionally offer promotions or discounts based on state of residence. Cruises are sometimes cheaper than traditional vacations since most food and travel are included. However, if you travel without a plan and daily budget, you may be tempted to overspend on shopping, food, alcohol, or excursions.

Be Flexible As Possible

Step 6: Figure out where you can compromise. 

You can sometimes save money by having flexible travel dates or staying in a lower-tier hotel room or hotel. Sometimes, staying at a hotel closer to the airport is cheaper than staying close to the attraction of choice. Also, many airport hotels have free transportation between the hotel and the airport. You can reduce costs by choosing a more economical travel destination or time of year.

Rather than eat out for every meal, you can save money by bringing food or staying at a hotel with a complimentary breakfast. Some hotel chains have lounges with breakfast and dinner to reward higher-level members. If you can access the lounge, ensure it is open, as it sometimes closes for the weekend.

Also, if you know what kind of trip you want to plan, consider finding a cheaper location that offers the experiences you’re looking for. For example, if you want to go to the beach in Florida, consider Corpus Christi or South Padre Island in Texas. Or, if you want to visit theme parks in California or Florida, consider visiting theme parks in San Antonio or Arlington in Texas—or anywhere else closer to home.

More Ways To Save On A Family Vacation

Step 7: Consider using public transportation. 

Light rail or bus travel is often cheaper than renting a car or using rideshare services. We tend to travel to destinations that have light rail options. It’s a great way to see the city from a local perspective. It also allows you to allocate the cost savings to other parts of your trip. You can also combine this step with the previous steps. For example, when we visit Atlanta, we typically stay at a hotel near the airport. The hotel can be accessed from the airport via a tram. We then ride the tram back to the airport and hop on the MARTA (Metropolitan Atlanta Rapid Transit Authority). My family can get to many Atlanta attractions this way for $9 or less per day if buying a single-day or multiple-day pass.

Take the Atlanta Streetcar for a $3 one-day pass for bonus points.

Using these strategies, anyone should be able to make travel plans on a budget they can afford.

Now that you’re ready to take that planned family vacation, it’s time to check out Texas Vacations On A Budget and these family summer getaways in Texas!

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