One of the biggest questions I get as a Travel Professional is, “How can I take multiple trips in a single year while on a budget?” Often this question leads to a broad range of answers depending on the traveler.
Today I m going to share with you how you can clear your bucket list while on a budget and still travel frequently in one single year.
So, we’ve all heard of the credit card pyramid when it comes to paying off credit cards, right? In case you haven’t, the credit card pyramid gives you a more assuring way to pay off your credit cards by listing all of your credit card balances and placing the card with the lowest remaining balance on top and following in an order where the credit card having the highest remaining balance is at the bottom hence, pyramid.
That same strategy applies to your Travel Bucket list! Let’s say South Africa, Paris and Jamaica are all on your Travel Bucket List. Honestly, we know that Jamaica will most likely be the most affordable between the 3 and that South Africa will, in fact, be the most expensive. So, what you want to do is, place Jamaica on top then Paris and finally South Africa. Now, remember, this example is being used so that you can clear your bucket list and still take other trips within a single year.
Next, you want to list the prices of each vacation and how long you are staying. This effort becomes extremely helpful as it will also allow you to determine just how long you really “need” to stay in each destination. Finally, note the dates so that when mapping out your financial plan, you’ll have available the dates your working with.
Now that we’ve created our pyramid and we know that Jamaica will be our first destination, we now need to know how many payments are needed in order to pay off the trip so that 1-2 more trips can fit into our plan. So, what you want to do is, take the total of the trip and divide by 6( 6 months is the normal payoff time given by most travel agencies) to give you the monthly payment amount. So for instance, let’s say you decide to stay @ the Riu Ocho Rios for 6 days /5 Nights with a total package price of $1,300. If you divide $1,300/6 you should get a total monthly payment of $216.
Now that you know how much your trip to Jamaica will be in addition to the monthly payments and how long you have to pay the trip off, you can easily understand your financial status with regards to taking additional trips within the same year. This strategy will also help you not become over whelmed or quickly accept that you can’t afford to travel. This same strategy also helps me when I plan travel. I testify that it works!