25 Oct 2023 | Edukatips

Tips to Manage Year-End Family Holiday Budget

Family holidays are often on the year-end agenda. However, year-end holidays tend to require a lot of money. That is why you need to plan your year-end holiday budget.

To make planning easier, check out some tips on budgeting for a year-end holiday with your family.

Budget Required for Year-End Holiday

Before you start saving money, it’s good to know what you need for your holiday. Apart from tickets and accommodations, let’s take a look at the budget for your holiday.

1. Transport

This includes return tickets as well as transport costs incurred while on holiday. If you choose to go by car, it means that you need a budget for petrol, toll fees, parking/vehicle entry fees, and so on.

2. Accommodation

The budget for accommodation is also relatively significant, especially if you are staying for a long period. Particularly for families with children that require more than one room for accommodation, it is necessary to multiply the cost of accommodation based on the required number of rooms.

3. Daily meal expenses

This expense must be allocated for the duration of your vacation. It’s best to budget at least three meals a day for each family member.

4. Tickets for entertainment

Holiday plans are usually based on the attractions available in respective destinations. As such, it is necessary to allocate a budget for admission tickets to these places. This cost is usually calculated per person.

5. Unexpected expenses

You also need to set up unexpected expenses during your holiday with your family. This is done to ensure a better holiday experience because you have prepared yourself for any possibilities that may occur.

Tips to Organize Year-End Family Holiday

Now is the time to start budgeting and organizing your family’s year-end holiday plans. Here are some tips that you can do to make it happen.

1. Start early

Year-end holidays are coming around the same time, which is around mid to late December. Organize ahead of time to save up your holiday fund until that day comes. Planning makes you more prepared for the holiday with your family.

2. Start doing research

This research aims to find out the costs incurred for accommodation, daily meals, and tickets to go to your holiday destination. By doing this, you can cut down the cost of your holiday, for example by looking for cheaper accommodations located close to transport access.

3. Determine the holiday budget

It is also important to determine the amount of your holiday fund in advance. The amount should be based on all the expenses needed during the holiday, from departure to return. Once you have a ballpark figure, you can start planning how to raise the funds.

4. Make a shopping budget

It is very common that you end up overspending on your holiday budget because you buy a lot of things or food. To overcome this, it is necessary to make a shopping budget for your holiday. This will include your purchases of food, activities, and souvenirs.

5. Start booking in advance

You can start arranging your holiday plan ahead of time if you want to save money. For example, booking flights and accommodation in advance. This way you can get a cheaper price.

You can also enjoy the convenience of making payments using your BCA credit card. Not only can you pay in instalments with a low-interest rate for ticket or accommodation purchases, but BCA credit cards can also be used as a payment method during holidays both in Indonesia and abroad.

If you don’t have a credit card yet, you can apply for a BCA credit card here.