How to Budget for Your Staycation: 6 Best Things to Do
While many people do not take a vacation due to its luxury or the inability to travel abroad during Covid 19, a staycation may be the best alternative. So, how to budget for a staycation? Let’s jump in.
You deserve to take a vacation and chill out after busy working days, but it’s essential to adopt a financial mindset which helps you set a proper budget. Also, during the outbreak of Covid 19, many of us prefer the idea of a holiday closer to home. Hence, a staycation becomes an awesome way to take a break since it can deal with both issues. In this article, we will recommend a few staycation ideas you can stick to and make memories with your family.
The price tag is the biggest difference between a staycation and a vacation. A staycation is just like a vacation, and you can take a holiday in your home country with less travel. This means you can skip the expensive flights, avoid the stress of traveling and save money for other activities.
So, how can you turn a day or a weekend into a budget-friendly staycation? Learn how to budget for a staycation with a few following tips which you can apply for your Christmas saving plans:
1. Create a budget
Planning a budget staycation is the first step you need to make. Determine how much you are willing to set aside for staycation after you have covered your monthly expenses and stick to that number no matter what. Your monthly payments are necessary while your staycation budget is not. If you can’t predict your income and want to learn how to budget with irregular income, take time to dig into it.
When you plan a holiday abroad, you will often draft a budget including flights and hotels, or a package within that amount. A staycation is not a traditional vacation, however, plan it out and set a budget right now to avoid overspending and going to pay off debt.
Additionally, the secret to setting a great budget is knowing what it will cover. Determine which activities you and your family value most and the associated costs. This can help you pinpoint exactly where to spend money and where to cut back to stay within your overall budget.
For example, if you are planning to check out concerts and hire a hotel nearby, research those individual costs and make a list of what you’d like to do. Then, put them into your budget and you narrow it down to decide what makes the most sense.
As you seek how to secure your financial future and plan for a staycation, you might just find that the traditional approaches to budgeting and money management don’t serve you. So, the principles of beyond budgeting can be useful to add to your toolkit. Don’t miss it out.
2. Find staycation deals
Accommodations may be the biggest expense. Hotels usually have lower prices during the week than on weekends due to low occupancy. The difference between peak prices and off-peak can be considerable. When the school holidays are over, hotels and transport will likely be cheaper. Hence, you can consider mid-August or ideally September staycations to have more choices and save your money.
Besides, if you book for more than two nights, you can get a better rate and food and beverage deals. Also, you can find deals on local zoos, aquariums, museums, or other attractions there, and make sure you check available dates. So, search for deals on local attractions ahead of time to save the most money possible during your staycation.
In addition, enjoying new experiences and trying new restaurants are the main parts that you want to add to your list of activities. However, entertainment and dining make up a large proportion of your staycation spending, so looking out for deals online to curb costs is one of the greatest staycation ideas you should try.
Some of the most popular ways to find deals on local entertainment are Groupon or LivingSocial, or even your local paper that advertises deals for local entertainment options.
3. Cook some of your meals
When you are on vacation, you absolutely want to enjoy the iconic food, but eating out a lot can add up the cost quickly and take away from other experiences during your trip. So, if your vacation lasts more than a week, find accommodations with a kitchenette to cook some quick meals. Also, it’s so great if the hotel you rent offers complimentary breakfast.
4. Take advantage of a travel credit card
You might look for how to make a lot of money very quickly or how to turn $1,000 into $5,000 to set the best holidays ever, let’s take time to find out. Carrying a travel credit card is one of the great ways to get some of the best rewards and save more money. Travel credit cards usually come with perks like free travel insurance and discounted car rentals. All you need to do is look for a card that works best for your staycation.
In case you make payments with a credit card, remember to stick to your budget and make sure you can pay it off. Otherwise, you might lose track and go into debt with staycation ideas.
Tracking your spending every night of your trip can give you peace of mind and serve as a gut check if you are overspending. Then you can course-correct over the next few days and decide where to spend a little more or less. Also, most credit cards have online banking apps, so make use of them to track your spending or lock your card if you go past your limit. This is an efficient way to make sure you are staying within budget.
5. Spend on your experiences
Activities are the heart and soul of staycation holidays, so why don’t you spend your money on experiences, and take a lot of photos with your family? They are free and last a lot longer.
Here are some free or low-cost staycation ideas that you can get started with:
- Build a fire and roast marshmallows.
- Have a picnic in the park.
- Sign up for family archery class.
- Take a family art or cooking class.
- Try out a new restaurant nearby.
- Find new paths and go for a walk.
- Rent a bike or motorbike and tour the city.
- See local tourist attractions and knock off any to-see places on the local to-do list.
- Visit local museums. Look for special exhibits and for smaller niche museums or galleries that you have not visited before.
- Visit local farmer markets, clothes markets, antique sellers, and more.
- Spend half the day laying on the beach and the other half taking a surf lesson or renting a jet ski.
6. Use a debit card for your staycation
When it comes to how to budget for a staycation, people usually prefer a debit card or a prepaid Visa card rather than a credit card. You must have wondered, is it safe to use a debit card online? It might take time to dive in, but debit cards can help you be more aware of how much you can afford and only use a credit card in emergencies.
MyConstant Debit Card is an awesome option to spend and lend money online onto the card from your instant-access funds – up to $5,000 with no minimum. You will be offered to bypass the banks and have the freedom to start compound interest investments with your privacy and security.
With MyConstant’s Instant Access account, you can earn 4% APY right up until you are ready to make your purchase. Furthermore, your card will be accepted by over 40 million merchants worldwide, so you can take it anywhere on vacation. Besides, you can deposit money online and earn an automatic 4% APY interest, compounded and paid every second, or store it in an insured escrow.
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