According to a recent study conducted by Go City, the average annual spending on vacation among Americans is $2,743 per trip. Americans also said they need an average of three vacations a year.
I took more trips than that this summer, and spent more than that, too. My family went on 11 different camping trips, and while we kept costs reasonable by staying in our RV, we still blew a fortune out of our checking account going on all of these vacations.
I know I’m extremely lucky to be able to do this, as many people can’t go on as many trips, both for cost and for practical reasons such as being home for work. I can do my job anywhere, so my travels have come in handy. But while I realize I’m extremely privileged to travel so much, I don’t regret spending the money for a minute. Here’s why.
I didn’t borrow money to go on vacation
One of the biggest reasons why I don’t regret spending money on holidays is because I paid for the trips with the money I saved. I worked hard and cut back in other areas to fund my savings account and afford my summer travel.
If I were in debt and still had to pay the bills for my summer travels in the fall and beyond, I’d be left wishing I hadn’t taken so many trips. This is because I would now find myself with less money and would need to work and save to cover the costs of long-expired holidays.
If you want to enhance your travel in a way that brings you enjoyment and not financial stress, consider what else you can cut from your budget that may not be as important to you. Would you be willing to drive an old, used car or skip some restaurant meals or switch to thrift store shopping instead of buying designer clothes if it meant hitting the road on more dream trips?
I didn’t compromise on other financial goals
Another reason I don’t regret taking so many vacations is that I didn’t have to compromise on other financial goals to do it. If I had stopped contributing to retirement savings or dipping into my kids’ college funds just to travel in an RV, I certainly wish I had made different choices.
There’s absolutely nothing wrong with enjoying life, as long as you do it in a way that doesn’t jeopardize your future (or the future of your loved ones). Take care of the necessary expenses first, then travel or do whatever you want with the remaining money. This way, you can go through it without regret or guilt.
I created unforgettable memories with my children
Finally, the biggest and most important reason why I don’t regret spending money on vacation this summer is that I made wonderful memories with my children. You have 18 summers to spend with your kids, and making the most of them is one of the best things you can do with your money. If you’re a parent of young children, spending on experiences can be much more beneficial for both you and your kids than buying more toys.
Now you may have different things you’re passionate about outside of travel – but ultimately you can cover those expenses without If you make your financial plans around these, you will regret it. Calculate how much money you need to do what you want using your time, then use your budget to achieve that goal And Paying attention to your future. Cut out other things that aren’t as important to you so you can get the most value for your money and be happy with the way you spend it.
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