Preparing Your Budget To Cover Holiday Travel Expenses

Seeing friends and relatives over the Christmas holiday can be expensive, so you may need to take a serious look at budgeting for your travel expenses. Travel expenses by plane or car can be quite costly. You must budget the price to travel to and from, as well as any activities before confirming your plans.

After all, you want to be able to pay for your travel but also any entertainment you might want to take part in if the family decides to go out to dinner, ice skating, or even a movie. In this article, you will find four ways to prepare your budget to cover holiday travel expenses. Take a look.

How To Prepare Your Budget For Holiday Travel

1. Plan Your Trip

Many people don't do a lot of planning. They fill up the tank, grab a credit or debit card, and a suitcase and head out. That is the most costly thing you can do. Failing to plan means you could run into higher fuel prices and hotel fees than you expected. You may not even be able to get a hotel room.

You are going to save money by planning your trip, including your rest stops, dining, and gas-ups. Booking things like airlines and hotel rooms as early as you can will save money. Understanding how prices, especially with gas, change along the route will also help you budget. 

2. Look For Ways To Save

Traveling is expensive but there are cost-cutting measures you can use. Taking a red-eye flight may be cheaper than one at 9 a.m. Using AAA planning guides and discounts will save some money. Many apps can help save on gas, rooms, and more. 

3. Estimate The Cost

Now that your trip is fully planned, you can look at a realistic cost. This is important because most evaluate trip costs with too much optimism. They then are faced with expenses they never planned.

Taking a realistic look helps you set enough money aside. Whatever that amount is, set aside 10 percent more just to be sure. You never know when an unexpected event will occur. 

4. Compare Costs With Income

Knowing how much a trip will cost gives you a good idea of how much you need to stash away weekly to pay for it. Count the weeks down to the trip and divide the estimated cost by the number of weeks. That is what you need. 

Looking at the cost, you probably need to change some things like get a cheaper flight or decide to travel by car instead. Preparing your budget for travel allows you to make these changes effortlessly. 

What If I Need Extra Money?

Anything can happen on a trip from a car breaking down to getting stuck in a snowstorm where you need extra days of lodging. It’s important to have some extra cash available especially if you're planning to travel across several states. Idaho Title Loans, Inc. has options to access money quickly and easily if you need a little help. 

We have title loans, payday loans, and signature installment loans. With title loans, there is a maximum borrowing amount of up to $15,000. Payday loans, on the other hand, have a borrowing range of $100 to $500, while signature installment loans have a borrowing limit of up to $1,250. 

Each option has its advantages so it is good to look at all three before deciding which one may fit your needs. We require you to have a driver's license or state-issued ID to qualify for any of our loans. Payday and signature loans also require you to have an open checking account with your name listed on it and your most recent pay stub. 

Payday loans require you to submit a blank check from your account while signature installment loans require you to submit a bank statement. Title loans require you to have a clear title and the matching vehicle available for an inspection. 

Accessing Alternative Loans

To start the loan request process for any of these loans, fill out an online inquiry form. This doesn't obligate you to commit to the loan but allows Idaho Title Loans, Inc. representatives to know you are interested in their options.

A loan representative will call you to explain more about the loan option you are interested in and help schedule an appointment to complete the loan process. Those seeking a title loan have the choice of meeting at a location more convenient to them rather than at a store.

At that meeting, a loan representative from the store will document your required items, do a vehicle inspection for those seeking title loans, and guide you through some easy paperwork. A decision will come while you wait. The process for any of the loan options can be completed in as little as 30 minutes and you can have the money you need the same day or the next business day. 

Get Started Now

While you may have the travel expenses you need in your budget, the extra cash for a financial emergency may not be as easy to save. When this happens, remember the loan options that are available with Idaho Title Loans, Inc. to help you out.

To find out even more about the details of these options, fill out the online inquiry form to speak with a loan representative. They will help you find the option that fits your needs perfectly so your holiday travel plans go off without a hitch!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.