When you’re in college it is common to look forward to the next big thing, like your vacation travel plans! Group chats are exploding with questions! “Where should we go? Should we take a road trip or look for cheap tickets on Expedia? Should we do hotels or Airbnb?” Everyone has so much fun answering these questions, but all smiles fade when someone asks this final question: “So how much is this going to cost?” Every college student loves the idea of an exotic vacation until they must consider paying for it. Finances are not a fun topic, but we have compiled five tips on budgeting so you don’t have to miss out on the memories!
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Start Saving Early
Consider picking up a side hustle or a part time job. Set aside a certain amount each week for your trip, and watch as your money adds up! The earlier you incorporate your budget planner into your plans, the easier it’s going to be to afford the trip. Don’t wait until the week before you book your trip to brainstorm where your money is coming from or you’ll be watching your friends' Snapchat stories on your couch! -
Book Ahead of Time
According to Expedia, the ideal time to book is on Sunday, while Friday usually will be the most expensive Expedia flight.The longer you wait, the more in demand the flights become, thus driving up the costs. In addition, the site also mentions that while this isn’t always the case, typically domestic flight prices begin rising 56 days prior to departure. While for international travel, prices usually start to increase 21 days before departure. Plan early for cheap tickets! -
Consider Inviting More People to Split the Costs
The more people who share a room and/or house, the cheaper it will be per person. Although comfort can be on your mind, it’s also important to note that most of the time spent on vacation will not be in your room. Get a big group together and make some memories! -
Consider any Additional Costs
Additional fees and unexpected payments can quickly drain your funds. Before getting on that flight take a moment to explore how much everything could cost, and allow some room in your budget for charges that come out of nowhere! A good place to start is to check your resort’s or Airbnb policies page, and see if your airline has any additional baggage fees. This way you’ll be ultra-prepared, and if you don’t end up paying extra you’ll have some cash to buy a souvenir so you’ll never forget your vacation! -
Cut Costs on Nonessentials
Although it would be a luxury experience to eat out for five days straight, Uber everywhere, and drink only the fanciest beverages, this is probably not within most people’s budget - and that’s okay! An easy way to save money on vacations in college is to cut costs on things that aren’t as important and only pay for what you really want to do. For example, it’s easy to go to a grocery store and buy a bag of bagels for a week instead of paying for breakfast at a restaurant. In addition, if multiple people do this it cuts the cost even more, and you can share different products from the grocery store for less. If your accommodation allows for it, have a fun night in and try a new recipe instead of spending money on a pricey meal at a restaurant.