The world is a big place and there’s so much of it to see that it’s easy to become frustrated at how little of it you’ll likely be able to experience on your current budget. This frustration is perfectly understandable. Once you’ve been bitten by the travel bug it can be hard to think of anything else but lining up your next vacation and the one after that. But, as in most things, planning and preparation are a big part of the adventure. While you’ll likely be racking your brains to think of where you’ll be able to mark off your bucket list in 2018, it’s important to set yourself realistic travel goals and carry out the financial planning that will enable you to achieve them.

After all, it’s much more fun planning for your holidays when that planning isn’t tinged by the worry of how you will pay for them.

It all starts with your budget

All responsible households have a budget that enables them to allot necessary costs for accommodation, food, utilities and assorted living expenses while ensuring that they have enough set aside for retirement and general savings. If you haven’t allotted a travel savings in your household budget, now is the time to do so. If you’ve booked your next vacation already you likely already know how much you need to save and if you haven’t now’s the time to put in some research. Either way, make sure you’re cognizant of all the extra costs. How much does a passport cost? What will you need to set aside for car rental? What will the daily cost of living be when we get there? These are all questions that will have to be answered by a competent budget.

Box clever with credit cards

You may be tempted to lean on a credit card to facilitate your travel goals for the year and while there are certainly caveats to credit cards, this can be a workable solution if you box clever. Most credit card companies will try to lure you in with introductory low (or no) interest rates. Be sure to pay these off as quickly as possible by factoring the debt into your monthly budget. If you’re unable to pay off the debt before the term expires, simply transfer the debt to a new card. Fail to do so any you’ll likely spend years paying off the debt in ways that could curtail your future travel plans.

Find ways to travel for free

If you have a flexible approach to where you go and what you do while you’re there it’s actually possible to travel the world for free (or at a heavily discounted rate). Volunteering with wildlife organizations, or simply being strategic with air miles can save a small fortune in travel costs while providing you with memories that will last a lifetime.

Be flexible and save money

While goal setting is important, it’s also important to be flexible in your goals. Even a tiny bit of latitude in where you’re willing to go and when can allow you to make significant savings and ensure that your travel goals are more realistic. If you’re unwilling to compromise on travelling to a certain country, be prepared to compromise on the time of year when you travel. If you absolutely have to travel in summer, expect to be willing to compromise on the destination.

So with the keys to setting realistic and achievable travel goals we hope you will have more fun planning for your holidays than worrying of how you will pay for them. What key is the hardest for you to manage? Is there a realistic and achievable travel goal that you always follow to reduce the stress of travel? Let us know int he comments below!

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