5 Tips to Stop Yourself from Overspending on a Vacation

Are you looking forward to a vacation but worried you might overspend? Travel isn’t exactly easy right now, and costs can be unpredictable compared to vacations you’ve taken in the past. Canada isn’t the only country in the world struggling with high inflation, air travel isn’t getting any cheaper, and travel delays and COVID uncertainties are still ongoing.

Despite all the concerns, a vacation is exactly what many Canadians need right now. Luckily, it’s still possible to travel on a budget. These five tips should help you avoid overspending on your next vacation.

#1 Hunt for Sales on Vacation Gear

Do you need to update your wardrobe before you go travelling? A beach vacation needs beachwear, and adventure-oriented trips will also need appropriate clothing, equipment, and gear.

If you’ve been planning this vacation long in advance, you should have time to wait for sales and hunt for deals. A great way to start is to find luggage bags on sale or buy used luggage. You can’t travel without the right luggage, but it doesn’t have to be expensive.

#2 Get Travellers Insurance

You’ve saved enough for your next vacation, but you’re worried about overspending. Travellers insurance is the best way to protect yourself from surprise costs related to cancelling a trip you can’t get a refund on, medical emergencies, and lost bags. Don’t let a bad turn of events ruin your vacation and leave you with a nasty bill.

#3 Set a Daily Spending Limit

A daily spending limit will stop you from going overboard on your vacation and save you from a shocking credit card bill when you get back. If you’re the type to use cash, you can even divide your daily spending into separate envelopes. Things can be a bit trickier if you rely on plastic, but there are budgeting apps that can automatically show you your spending.

It doesn’t hurt to do some research into local costs for meals, transportation, and activities. You’ll have a better time if you have an accurate estimate of your daily costs, and you can save ahead of time.

#4 Skip Shopping to Focus on Experiences

Another way to keep your vacation on budget is to focus on the experience itself and skip the shopping spree. If part of your reason for travelling is all the exciting shops, it makes sense to budget for it, but if you’re going for the experience, stick to the costs that matter.

#5 Decide on Your Vacation Priorities

Not all vacations are the same, and everyone has their own goals when they vacation. For some, the point of a vacation might be exploring another culture or exploring a new city. For others, it might be relaxing, recharging, and enjoying a much-deserved break from the daily grind.

When you know what you really want out of your vacation, you can make sure your budget goes toward those priorities. If your goal is to relax and recharge, find the best deals on all-inclusive packages. If you want an authentic experience, you can probably save money by renting an apartment instead of a hotel and shopping like a local instead of eating at restaurants all the time.

You don’t have to skip travel just because things have gotten expensive. With the right preparations, you can make sure your vacation remains on budget.