Who does not love traveling? Sparing a week off from the hustle and bustle of life to enjoy a peaceful vacation can be a refreshing dose every individual should seek. But any vacation comes with a set of expenses, ranging from food & accommodation to travel & activity. Moreover, vacations can be overwhelming and can influence you tox
x spend more, which can affect your overall vacation experience.
Here is a small guide to planning a holiday on a tight budget without compromising on fun and activities.
Picking the right location as per your interest is the single most important consideration while planning a budget vacation. Try and avoid locations frequented by tourists and visit a place that is unexplored and not mainstream. If visiting one of the popular tourist places is a must-do on your agenda, choose an off-season period when prices are low.
Accommodation usually takes up a significant chunk of any travel budget and hence it’s extremely important to evaluate options while balancing costs and comfort. Cut down on expensive hotels and look at budget 3-star hotels or economical Airbnb options if traveling with family. If you are traveling alone or with friends, check out hostels or homestays. These options are economical and offer an entirely different and exciting travel experience. You can also join the couch surfing community and explore free stays at other members’ homes. In return, you can host other travelers when they are visiting your home city.
If you aren’t short of time, minimize air travel and look for train and bus options if traveling within your country. If traveling abroad, look for cheaper connecting flights which can save you money as compared to non-stop options. For local travel, prefer walking to short distances or choose public transportation over expensive local taxis. Walking the streets allows you to explore more, pay attention to details, vlog, take pictures, and make memories.
Whatever travel and accommodation options you eventually decide, ensure you get the best deal available. Do thorough research and compare prices by visiting online travel aggregators like Expedia, Booking, Makemytrip, etc. Cost comparison websites like Trivago compare hotel prices for you across various sources and can be a handy travel tool. Planning your travel in advance and looking for bundled and package deals can also save a significant amount of money. Lastly, keep an eye on various offers from your bank or credit card programs. You will be surprised by the amount of savings some of these offers can deliver. Always remember, any amount saved on travel and accommodation can be utilized for other more rewarding activities.
Many people don’t consider the cost of food as a significant expense, but it can have an adverse effect on your overall holiday budget. It’s wise to avoid expensive restaurants at typical tourist spots. Spend some time researching, talking to locals, and discover local food options like food trucks, street-side stalls, diners, etc., which are not only cheaper but offer an authentic local taste. If you are staying at an Airbnb or a Hostel, try cooking a few meals yourself.
When planning a budget vacation, you need to prioritize what you want to do. Shopping and outdoor activities cost a lot at tourist destinations, and hence it is wise to avoid these unless absolutely necessary. For e.g., If a place offers paragliding, it’s better to opt-out if you’ve already experienced it before. The same goes for shopping; if you like something that can be found at a lower price at your local place, don’t entertain the unnecessary splurge.
Financial discipline is essential irrespective of the type of vacation you plan. Plan your daily expenses carefully and make sure you limit the cash you carry, as the more money you have in-hand, the more likely it is going to be spent. Always reserve an amount for emergencies and keep a note of all your expenses to limit unnecessary spending.
In a nutshell, travel smart and have the required financial discipline. Start saving up in advance for your planned vacation to avoid taking on a large amount of debt. If after all your budget planning you still fall a little short on budget, you can consider a Mini Loan. Mini Loans are excellent short-term financing options that give you the option of borrowing a small amount without the need to provide any collateral. Mini Loans come with affordable interest rates and can be paid off in easy installments without becoming a burden on your monthly cashflows.