Vacations are meant to be a time of enjoyment and relaxation. Ironically, they can end up being very stressful if you don’t map out your budget and plans properly. It’s at a point where a report by the Boston Globe found that more than 90% of Americans find travel stressful.
When you look at the most common travel stressors, financial stress often gets brought up by travelers of different ages. Thankfully, you can minimize your money woes by identifying what triggers your bad spending habits.
Chief Seattle said it best: “Take only memories, leave only footprints.” With the right steps, you can have a more sustainable way to enjoy your vacation with less stress.
Main Triggers to Bad Spending Habits
The first step is figuring out what exactly might be triggering your bad spending habits in the first place. This helps you get to the root of it instead of just reacting after the fact. There are a few common factors that fit the bill (in more ways than one.)
Emotional Spending
Emotional spending is a real doozy in terms of spending above your means and buying more often than you should. A post on the psychology of spending money by Upgraded Points breaks down the signs that show you are an emotional spender, which includes spending money even when it’s stressful, shopping for instant gratification, returning a lot of what you buy, and feeling the need to compete with others. Emotional spending may commonly be caused by negative factors, but you also need to be careful of releasing these feelings when you’re on vacation. As you feel more at ease, you may be more likely to give in to shopping as a response to external issues.
The Social Behaviors of Vacation
It’s kind of in the nature of vacations to carry you away. So, it’s natural to want to immerse yourself, feel less inhibited, and just go for any experience, purchase, or souvenir that strikes your fancy. Although you shouldn’t stifle yourself on vacation, you should also be wary of just leaning into hard to that YOLO vibe when it comes to money.
This doesn’t mean you can’t buy yourself something nice or get gifts for people during your travels. You may want to get some Inspiration for Travel-Themed Gifts so that you can set aside a specific budget for buying your friends and family some goodies.
Social Media
Social media is notoriously one of the biggest triggers for spending money. Lots of people, friends and influencers alike, can encourage you to spend more. Brands have now mastered the art of targeted messaging specifically for your feed. And finally, in-platform links make it that much easier to shop on the go.
How to Stop Bad Spending on Vacation
Awareness is a good starting point, but you will also want to take some active steps to ensure that you are lessening your tendency to spend badly.
Prepare an Itinerary
Having an itinerary can be a real help in managing your time and budget. Because your schedule is already set, there’s less room for temptation. It also gives you a chance to plan your entire financial map for the trip ahead of time.
If you’re traveling to London or other popular spots for solo travelers, you’ll find that the best ways to save money and avoid unnecessary spending are to book your accommodations ahead, find small local gems to eat at and cook when you can, and prepare an itinerary with a good mix of activities. This can even make the trip feel safer for you in general.
Minimize Screen Time
A recent study by SEO Powersuite revealed that social media influences 71% of consumer buying decisions. So, the best course of action is to get off your phone and just focus on a tech-free vacation. You’ll find that it even enriches your experience as you can really bask in the moment. Less screen time should help you avoid getting some of that urge to scroll and buy, and it’s healthier in the long run.
Look for Fun Free Activities
Who says you need to spend to have fun? There are plenty of free activities that are genuinely a lot of fun. That’s pretty much the beauty of traveling, especially when you visit an unfamiliar place. Do your research early on about available and safe attractions and recreational sites so you can maximize your trip without feeling the need to splurge.
CNBC’s article on 2023 travel has shown that travel expenses have soared to new heights, with a roundtrip ticket to Europe now costing 32% more than it did last year. With these numbers, it’s best to cut costs where you can without sacrificing your vacation fun.