Let's look at a few tips which will help you manage your money better while taking a vacation:

Determine your budget

It is very important to determine what your budget for the vacation is before deciding on anything else, especially when you wish to travel to foreign locations.

Let us take an example. Let's say Satish didn't consider his budget when he took his family on a tour to Europe and made all payments by swiping his credit card. When he came back from the vacation, he faced an exorbitant amount as credit card dues - an amount he found impossible to repay. This resulted in lowering of his credit score and ultimately affected his credit rating.

An occasion as special as a family vacation should not cause nightmares for the rest of your life. Therefore, first determining how much you can spend is a good way to go. Only after this, you should decide on the location and other details.

Prepare in advance

When you go on a holiday with your family, you would want to have a memorable trip and bring back a few pleasant memories. This is possible only when you do good research on the place you are visiting and plan your itinerary well in advance. This doesn't mean you need to work on huge spreadsheets for your vacation, but you must definitely look at important details like the places you would like to visit, mode of travel, where you would like to stay and so on. Planning in advance not provides peace of mind, but also saves money. When you make your reservations in advance, you save on hotel bills and travel costs.

By planning, one doesn't end up wasting time or money. This is because as all your plans are already chalked out, making it a lot easier to enjoy.

Secondary destinations

Sometimes, offbeat destinations - which cost much lesser - are as good as popular destinations.

For example, if you want to go on a beach holiday near Mumbai, Alibaug is a popular but expensive destinations as all tourists pick this place. However, there are many resorts which are a little farther off and are not so popular but offer you accommodation at much lower rates and also let you experience the beauty of the beach.

Peak season travel

Every place has a set of peak season and off season depending on the weather, festivals and several other factors. If you're planning to visit a place during its peak season, you'll end up paying more. On the other hand, if you arrive at your destination just before or just after its peak season, you may get handsome discounts on accommodation, excursion and travel.

You must, however, consider the climate and other comfort-related factors before deciding on this.