Travelling & budgeting rules seems to evaporate

The sentence typically describes a situation when our budget rules don't get applied while spending and our finances and money seems to evaporate while travelling. When we travel budgeting tends to vanish.

Courtesy: Youtube Channel @morningmoneybuzz

5 points to explore

Spending Spree

1. Generally vacation means free from all your financial stress , from your everyday money stress. It's more like treating yourself like spending on fancy meals, souvenirs or on things that you normally don't consider spending.

Payment method shifts

2. We always prefer to carry cash along with cards. Specifically while travelling abroad we generally go for currency exchange then spend it at the local market or for our spending spree along with card usage.

Spending for memories

3. When we travel we build memories. We spend on experiences like paragliding , trekking , zip lining, camping , quad biking and many more . In other words it's all about emotional spending. We spend on activities for happiness. We feel a lot richer when we spend on experiences other than things.

Hidden costs

4. The extra cost that we don't consider while travelling are like giving a tip at the restaurant or buying some snacks at every nook and corner. These are the extra cost even the careful budget planners also bear.

Financial reality check

5. It's not always true. Those who love to travel they generally don't consider vacation spending guilt. But yes we do get a financial reality check post vacation after considering all the spending spree jotted down together and then adding up everything and we get the total actual amount spent on our recently ended vacation.

Closing remarks

1. It's always better to set our daily budget. We can use some travel budget planners in digital format or printed version or a spending tracker app to stay aware about the daily expenses while travelling.

2. We can always choose on what to spend. There must always be some non negotiable experiences we would love to spend while saving our other expenditures.

3. We can prebook major vacation plans in advance. We can always get discount coupons from third party apps.

4. It's always better to use cash for all our small purchases like local shopping and daily meals while travelling abroad.

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