Most people who have never traveled have a good reason – they say they just can’t afford it.
It’s true that for some folks, covering their basic expenses leaves them with too little to travel. However, the reality is that most people CAN travel. They just need to plan for it.
Even if you can’t jet off six times a year, you might be able to plan a late winter getaway to someplace sunny without breaking the bank. But how can you do it? A week’s stay at a Caribbean all-inclusive can cost upwards of $2,500 per person! Most people just don’t have that kind of cash lying around.
What if I told you it’s possible to plan such a trip, even if you don’t have a lot of disposable income? What’s the secret?
Breaking down the cost and setting up a plan to save.
It’s what people used to do before credit cards came onto the scene.
Families would save up all year for a camping trip or a road trip down good ‘ol Route 66. Times were tough then, too. It was near impossible to shell out the cash upfront.
The best action plan is to make a decision about the details:
- where you’re going
- when you want to travel, and for how long
- who’s coming with you
- …and what you will be doing
Once you have your master plan on paper, crunch numbers and find out how much your trip will cost you.
If you’ve never been on vacation, an all-inclusive trip is a great choice.
The total cost includes your lodging, flight, airport transfers, food and drink – and even some of the activities you’d like to do!
Some resorts have the option of allowing children under 12 to book with you for free, so that’s a great way to save money.
Here’s just one scenario:
7 nights at a 4-star Mexican all-inclusive, at $1,400 per person with taxes included for two adults and two children. Spending money & tips of $500 for the week (it’s all-inclusive, remember?).
That’s $3,300 for the family for the week. Assuming you want to travel just over a year out, you need to save $275.00 per month. That’s not unreasonable. And that’s for a 4-star all-inclusive!
A 3-star is even cheaper. If you’re really on a budget, you can plan a camping trip or a small road trip for a few days. The key is planning in advance and breaking down the cost into reasonable amounts you can save for.
Still worried about setting aside cash for an annual vacation? Stress less about future vacation budgeting by having a skilled financial planner on your side. Call 513-563-PLAN (7526) or go online to book a chat with us today!
Regards,
Nikki Earley, CFP®
