The vacation season has started. Kids have their summer breaks. The weather is unbearable and
you just want to give this heat a miss. A few tips on how to beat the heat but not burn a hole in your pocket.
Plan Ahead: Planning in advance is the key to having a pocket friendly yet magnificent vacation you always wanted. Booking your stay and your travel, if done in advance, will fetch you early bird discounts. Air tickets booked in advance are sometime dirt cheap. Also you can plan your own itinerary as you have time, instead of relying on the age old travel agent's sightseeing packages. Sites like tripadvisor, makemytrip, etc. are very helpful.
Tip: Check the conditions of ticket cancellation before you book it.
Have A Budget: Always have a budget allotted to vacations, so that this expense does not eat up your retirement fund or your regular investment. Budget gives you guide lines for your vacation spending, right from selecting of destination, accommodation and transport to buying souvenirs for your loved ones. Don't go overboard.
Tip: Have a little extra fund just in case of unforeseen expenses like medical requirements, natural calamities, etc.
Start Saving: If you have planned ahead and have a budget allotted, start working towards saving funds for it. It is easier than you think. It might be from the funds your investment adviser has set aside or the yearly bonus you received at year end or your regular saving set aside per month.
Tip: My friend saves 10k per month and his wife saves 7k per month, by year end they accumulate 2.04 lacs + Interest. This is solely used for their vacations. You wont feel the pinch saving monthly.
Indian Destinations: Well take a look at the Indian alternatives to your favorite international destinations. Lambasingi, Andra Pradesh, only place in south India where it snows. Valley of flowers in Uttarakhand can be compared to the Antelope valley in the US. Click here for more options and be enamored by the scenic beauty and wonders closer home
Tip: Visit Mawlynnong Village, Meghalaya. Did you know it is Asia's Cleanest Village.
International Destinations: For those of you who still wish an international vacation and have budgeted for the same, there are plenty options. However, certain months are peak business season and cost you more. There are various networking sites for international travelers and hitchhikers. You can rent an apartment or just a bed in a hostel (forget the horror movies) which are cheaper than hotels.
Tip: There are international destinations which will cost you less than an iPhone, Click here.
Maintain A Diary: Maintain a diary or a log of not only your journey and experiences but also your expenses. This will help you in asserting how well had you planned and where you need to focus while planning your next vacation. It also helps maintain your budget while on vacation.
Tip: This diary can give lot of insights about the stay, travel and expenses involved when you are planning vacations for your family and friends.
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