How to Budget for a Vacation in Five Easy Steps ǀ Guardian (2024)

1,212thAnnual Workplace Benefits Study, Guardian 2023

12th Annual Workplace Benefits Study Research Methodology

The 12th Annual Workplace Benefits Study was fielded in February and March of 2023 and consisted of two online surveys: one among benefits decision-makers (employers) and another among working Americans (employees), allowing us to explore benefits issues from both perspectives. Survey data collection and tabulation were managed for Guardian by Zeldis Research, an independent market research firm located in Ewing, NJ.

Employer survey

Employer results are based on a national online survey of 2,000 employee benefits decision-makers. Respondents include business executives, business owners, human resources professionals, and financial management professionals. The survey covers all industries and is nationally representative of US businesses with at least five full-time employees. Data shown in this report have been weighted to reflect the actual proportion of US businesses by company size based on data from the US Census Bureau. The margin of error at the 95% confidence level is +/- 2.2%.

Employee survey

Employee results are based on a survey conducted among 2,000 employees age 22 or older, who work full-time for a company with at least five employees. The survey sample is nationally representative of US workers at companies of at least five full-time employees. Data shown in this report have been collected in a way to reflect the actual proportion of US workers by gender, region, race, ethnicity, education level, household income, age, and employer-size, based on data from the Bureau of Labor Statistics and the Census Bureau. The margin of error is +/- 2.1% at the 95% confidence level.

How to Budget for a Vacation in Five Easy Steps ǀ Guardian (2024)

FAQs

How to Budget for a Vacation in Five Easy Steps ǀ Guardian? ›

Deciding where to go and what to pack is stressful enough, let alone trying to determine how much money you need to bring. The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing.

How much money should you have for a 5 day trip? ›

Deciding where to go and what to pack is stressful enough, let alone trying to determine how much money you need to bring. The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing.

How do I plan a vacation with little money? ›

How to Plan A Budget-Friendly Vacation
  1. Tip #1: Set Your Total Vacation Budget. ...
  2. Tip #2: Plan in Advance. ...
  3. Tip #3: Meal Plan To Avoid Dining Out For Every Meal. ...
  4. Tip #4: Embrace Flexibility. ...
  5. Tip #5: Look for Hidden Fees. ...
  6. Tip #6: Be Careful but Wise. ...
  7. Tip #7: Research Your Destinations. ...
  8. Tip #8: Pre-Plan Your Activities.

How do you budget for a vacation? ›

8 Tips to vacation on a budget
  1. Start with a vacation budget. Inexpensive vacation ideas start with a clear vacation budget. ...
  2. Plan ahead of time. ...
  3. Choose budget-friendly vacation destinations. ...
  4. Choose budget-friendly accommodations. ...
  5. Meet people. ...
  6. Do your own driving. ...
  7. Consider inexpensive activities. ...
  8. Save for vacations over time.

How to plan a budget trip? ›

Here are our 7 best tips on how to plan a dream trip on a budget:
  1. Choose a more budget-friendly travel style. Forget hotels and tours. ...
  2. Take advantage of low-cost flights. ...
  3. Travel to non-expensive destinations. ...
  4. Plan a longer trip. ...
  5. Cook your own food. ...
  6. Become a digital nomad. ...
  7. Get a casual job.

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

Is $100 a day enough for vacation? ›

You should have roughly $50 to $100 per person every day of your trip.

What is a good budget for a week vacation? ›

$129/night
Number of peopleAverage daily costAverage weekly cost
1$283$1,984
2$566$3,969
4$1,132$7,936
6$1,698$11,904

How much cash should I bring on vacation? ›

A good rule of thumb is to carry $50-$100 a day in the local currency while travelling. Remember, though, that cash may not be the best option to pay for travel expenses. Credit cards offer great rewards, lower transaction fees, and can help you get a better exchange rate.

How do you plan how much a trip will cost? ›

6 Factors to consider when calculating your travel costs
  • Transportation costs. Transportation expenses can quickly add up; thus, budgeting for all modes of travel is crucial. ...
  • Accommodation expenses. ...
  • Food costs. ...
  • Activities and attractions. ...
  • Miscellaneous expenses. ...
  • Additional costs.
May 30, 2024

How do I book a vacation on a budget? ›

Five Tips To Plan Your Dream Vacation, While Sticking to a Budget
  1. Tip 1: Research costs in advance. ...
  2. Tip 2: Explore transportation and lodging alternatives. ...
  3. Tip 3: Consider all-inclusive options. ...
  4. Tip 4: Be flexible with dates. ...
  5. Tip 5: Set a daily spending limit.

How to plan the perfect vacation? ›

  1. List your dream locations and choose your adventure. The first step in vacation planning? ...
  2. Plan your budget. ...
  3. Check your calendar and research dates. ...
  4. Book flights and hotels. ...
  5. Search for deals on activities. ...
  6. Build your ideal itinerary. ...
  7. Pack your bags. ...
  8. Research local customs.

How much should you pack for a 5 day trip? ›

For a 5 day vacation, you will want to bring 2-3 pairs of shorts or pants, 3-4 tops, a light jacket (or a heavy jacket, depending on where you are traveling), and 1 formal outfit if you are planning on attending a nice restaurant or event. If you are going to the beach, pack 2-3 swimsuits/trunks.

Can you go on a trip with $500? ›

Key takeaways. Despite high prices for airfare, hotels, and car rentals, it's possible to get away for under $500 a person. You don't need to sacrifice fun or good food. You just need to be more creative about where you find it.

How much cash should I bring on a trip? ›

A good rule of thumb, though, is that, on average, you should plan to carry between $50 and $100 per day in the currency of the country in which you're travelling.

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