Find out how much your vacation travel is likely to cost by using a worksheet; then you can budget for it. You need not be a math genius to know what your trip will set you back. Simply fill in the blanks to the best of your knowledge. If you don't know an exact amount, estimate (it's a good idea to guess on the high side). Then add up the columns on Worksheet #1 to project expenses. Leave a blank if you do not require a certain item.
On the second vacation budget worksheet, add up the amount that you can afford to spend. Deduct the total on Worksheet #1 from Worksheet #2 to see if you can take off for your next getaway with a clear conscience and some money left in the bank.
Worksheet #1: EXPENSES
|BEFORE YOU GO...||AMOUNT|
|AT THE DESTINATION|
| EXPENSE TOTAL:|
Worksheet #2: CAN YOU AFFORD THIS VACATION?
Now calculate what you can afford to spend using the small worksheet below. If you are willing to incur some credit card debt, add the amount under Miscellaneous.
Also, if the trip is your honeymoon and you are getting gifts through a honeymoon registry, add in the amount you anticipate receiving from friends and family.
In this instance, make your estimate on the lower side, and keep in mind that most registries take a percentage of gift amounts.
If your vacation-expense total turns out to be less than your income total, great! You're on your way to planning a fiscally responsible holiday.
How much money will you have to spend on your vacation... and where will the funds come from?
STAY OR GO?
Once you've estimated and added up the costs of your honeymoon or vacation, you're in good shape if the number in your Total Funds exceeds that of your Expenses.
If it doesn't, and you can't bear the thought of canceling or delaying a trip, there are several options to explore that can help you to bring travel in under budget:
- Travel for a shorter period of time. Instead of going away for a month or even a week, consider a four-day trip or a long weekend
- Travel closer to home. The nearer you stay, the less you will need to spend on transportation
- Choose an all-inclusive vacation. Whether you opt for an all-inclusive resort or a cruise, you'll know in advance the cost of the trip. Food, drinks, snacks and accommodations are included in the price, although extras such as spa services and excursions will add to the price.
- Defer your honeymoon. It's a hard choice to make, but when you just don't have the funds and you don't want to go into debt, it's the choice you're left with. Keep your spirits up by dreaming about where you will go when you have the money.
- Start sexy savings. Lots of couples put anywhere from $1-20 in a special place every time they make love. As newlyweds, your "tip jar" is bound to fill up quickly, and it can quickly fund your honeymoon that way.