How Much Vacation Can You Afford in 2024?
Written by
Karen Doyle
Edited by
Cory Dudak
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It seems as though the cost of everything is going up, and vacations are no different. Knowing the cost up front — and planning ahead — can help you make the most of your vacation dollars.
Here’s what you need to know about affording that big vacation in 2024.
The Average Cost of a Vacation
According to GoGo Charters, the average cost for a one-week vacation for a solo traveler in the U.S. is $1,984. For a family of four, you can expect to spend $7,936.
What do you get for all that money? These costs include:
- Transportation
- Lodging
- Food
- Entertainment
Here’s a look at each of these costs to see how to keep expenses down.
How To Save on Vacation Transportation Costs
Transportation costs can vary widely depending on how fare away you’re going and the way you’ll get there. Long distance vacations are more expensive because they typically require a flight. If you live near a nice vacation spot, staying closer to home will save you some money by allowing you to drive. Another advantage to driving is that you can fit the whole family in the car, rather than buying four plane tickets.
Another solution is to make the journey the vacation. You could drive a few hours, stop at a historic site or other attraction, stay overnight, and do it all again the next day. Or, take a train and enjoy the sights in all the towns you pass through.
How To Save on Lodging Costs
There are a lot of variables when it comes to where to stay on vacation. You can shell out big bucks for a five-star hotel, or you can rent an AirBNB or VRBO property that accommodates the whole family. If you want really inexpensive accommodations, camping is an option too.
How To Save on Food Costs
Food costs on vacation can really put a dent in your budget, especially because it’s easy to forget to include it when you’re trying to determine how much vacation you can afford. Instead of eating out three meals a day, grab breakfast at a baker — or at the hotel if they offer it. For lunch, stop at a supermarket for sandwiches or fruit and bread. Dinner doesn’t have to be a Michelin-starred restaurant every night. Instead, look for the out-of-the-way places where the locals eat.
How to Save on Entertainment Costs
Entertainment on vacation doesn’t need to break the bank. You’re in a different place (usually) so there are likely to be different entertainment options than what you’re used to at home. Consider booking one memorable show or attraction and scale down the rest. You can often discover little hidden gems like local museums or parks that are inexpensive (or even free) and will give you a good taste of the local community.
Thinking outside the “expensive vacation” box will help you get the most from your vacation budget, and you’ll still make memories that will last a lifetime.
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