Ahsan Gardezi
Getting away is expensive. According to a recent economic survey of Pakistan’s tourism industry, the average tourist spends around 200,000 Rupees on summer travel. This figure includes everything from long weekends in affordable outdoor adventure destinations, to extended holidays in spendy international hotspots, to once-in-a-lifetime getaways to exclusive honeymoon resorts. Here’s how to save money for a vacation.
Also Read: How To Safely Buy Used Phone In Pakistan
Over the years, the ProPakistani team has taken long, relatively expensive trips with little to no adverse impact on finances. More than anything else, we’ve learnt that the secret to pre-vacation saving is time.
The earlier you start, the easier it’ll be to meet your savings goals!
Setting A Firm Budget | How To Save Money For A Vacation
First, set a firm budget for your planned vacation. This should be a hard upper-limit that you pledge not to exceed, barring an unforeseen emergency.
Precision isn’t the goal here.
Your vacation budget is an educated estimate based on the expected contours of your trip: round-trip travel, lodging, local transportation, meals, sightseeing, activities, shopping, incidental costs. Do some research to get a sense of what you can expect to pay for big-ticket items like airfare and lodging, then gut-check your expectations for your daily expenditures at your destination.
- Do you expect to eat at restaurants or prepare your own meals?
- Rent a car or get around on public transportation?
- Hunt for bargains at local markets or keep a tight fist?
Arrive at cost ranges for each category. Add them together to get a total expected cost range. Pad with a reasonable buffer – say, 10% to 15%, to account for unprecedented travel costs or currency fluctuations (for international travel). This final number is your upper budget limit.
Set Travel Dates and Pin Down Likely Costs
Before you make any reservations, set your travel dates, then drill down on your budget’s tentpole expenses:
- Round-trip travel
- Lodging
- Local Transportation
Since these items are expensive, you’ll want to have a good sense of what they’ll cost you, so that you know:
- What you need to do to save
- What sacrifices you need to make along the way
- Whether the trip you’ve planned is a wise choice given your present financial situation
We recommend blocking off a few hours on an evening or weekend for some detailed research. Use multiple online booking and price-comparison sites to narrow down what you’re likely to spend on each major item given your origin, destination, travel times, and expectations for quality and comfort.
Remember that the prices you see online don’t always include extra expenses like baggage fees, resort fees, and lodging taxes.
A Rs. 4500/- daily resort fee adds Rs. 20,000/- to the cost of a six-night stay, for instance – not an insignificant expense! Be sure to factor these extras into your cost ranges.
Identify Potential Splurges For A Spiritual Getaway
Traveling for pleasure is special by definition. Even frugal travellers can be forgiven for loosening their belts once in a while. Don’t moan; it’s not that surprising.
If you have some budgetary breathing room, do yourself a favor and look for an opportunity to treat yourself. Your ideal splurge might be:
- a spa/onsen day,
- a fancy restaurant meal,
- a chartered fishing trip somewhere around Hindukush,
- a guided tour in Gilgit
It all depends on your destination and personal preferences.
Identify and budget for any splurges well in advance, so that they don’t adversely impact your ability to save for the rest of your vacation.
Stop Raiding Your Little Savings Jar | How To Save Money For A Vacation
Your coin jar is your petty cash fund – literally, the loose change you use for small, frequent expenditures like parking and snacks on the road. Right?
Stop dipping into it. Keep adding to it like you normally do for a few months before your vacation. Then, before leaving for your trip, empty it out and put it in your wallet. If you’re a salary man, you’ll get what we’re trying to tell you here!
Cancel All Nonessential Subscriptions!
Typical or above-average households are suckers for subscriptions.
If your budget is hostage to nonessential subscriptions, cancel them. Sure, you’ll miss having the option to try all those personal care products or discover yet another mediocre show, but your life will go on much as before.
Here’s A Deal-Killer |Eating Out Less
Most people appreciate a nice dinner out. Likewise, on-the-go meals at quick-serve restaurants are godsends for busy students, parents, and professionals (who often occupy the same skin, LOL).
The problem is the cost. Whether it’s a Rs. 1000-a-head dinner at a fancy restaurant or a Rs. 150-sandwich at your local burger stand, eating out (or grabbing takeout) is almost always more expensive than prepping your own meals.
Cut cash from fast-food. It’s assured to make a noticeable difference. Deposit some or all of the resultant savings into your vacation fund and watch it grow that much faster.
We’re not saying you need to swear off restaurant meals altogether – you deserve to take a break from preparing your own dinner every once in a while. But a little restraint goes a long way!
Last Word | What Are You Doing To Save Up For Your Vacation?
It’s almost inevitable that you’ll need to make some sacrifices during your pre-vacation savings campaign.
Just try not to cut too deep. If you find yourself contemplating serious trade-offs, like forgoing a long-planned return to school for a career-critical degree, you might need to reassess your itinerary or timing.
Paradise can wait, alright? Take it easy and plan without pressure!
Well, there you have it guys! This was all about how to save money for a vacation. If you have any questions, leave a comment in the section provided below!
Good luck!
