Vacation is the rare a time a year when it’s completely cool to sit back and take it easy. Thus, it should be expected that spending be leisurely. With that said, it’s far too easy to get carried away with unexpected purchases when in vacation mode, even with the help of rewards credit cards with no annual fee, and care should be taken to ensure that a planned vacation budget doesn’t wind up doubling due to relaxing a little too much.
Here are four ways to rein in spending without sacrificing pleasure while on vacation:
Get an optimized credit card: Browse the best cash back rewards credit cards if you haven’t gotten one among your existing plastic. If you’re expecting to be making a lot of purchases over the course of two weeks and pay off the balance at the end of the month, then it’s in your best interest to get a card with some sort of bonus attached.
Put a cap on cash: Stick to a set amount of cash per day, and use a debit card or alternative payment options to make purchases. This helps you keep track of spending as well as control it.
Find friendly ATMs beforehand: If you abide by the aforementioned rule, then you shouldn’t have to worry about this too much, but ATMs in vacation hot spots tend to come with ridiculously high service fees for outside bank cards. If you plan on getting cash out frequently, call your bank or visit its website to find the closest cash machines that won’t add a charge to your withdrawal.
Shoot for a specific spending figure: The best way to avoid going overboard with purchases is to do your homework to come up with a realistic limit on your vacation spending, then abide by it. Use a cash cap and careful receipt tracking to constantly be aware of how much is being spent without having to dwell on the issue. If you did the right amount of research, know yourself as well as you should, and commit to your plan, it shouldn’t be a problem.
There’s nothing wrong with spontaneous spending on vacation, as long as you know it’s going to happen. Doubling the cost of your vacation due to careless concern for your spending can easily be avoided with careful planning and self-control, without removing the enjoyment of your time off.
