Roman philosopher Seneca wrote a long, long time ago that “travel and change of place impart a new vigor on the mind.”

Research has shown that taking a vacation is indeed good for your physical health. It relieves stress, helps prevent illness and makes you more productive at work.

While it may be good for the soul, vacation can put stress on your fiscal health if there’s no budget in place and the trip runs up your debt. Add to that trips to see family. Then maybe a wedding pops up out of town or you decide to partake in the bachelor/bachelorette parties before the wedding.

What does it cost to take a vacation?

Regardless of the reason for traveling, it all takes money. And how much money is required depends on how you will travel – airplane, car, train or even a ship – and where you plan to stay. 

With traveling, the method of travel and lodging could be your two biggest expenses. Figure out where you want to go on vacation. Then calculate those two big expenses. Of course, when you see family, your accommodations may be covered. But you still have to get there.

Once you have that number, set a budget for what you will spend while at your destination. Establishing a budget should give you the discipline that prevents you from overspending. Like other aspects of budgeting, creating a separate bank account for travel could be a good way of managing saving and managing your funds. 

Be sure to budget for all your travel cost details

When budgeting for a vacation, factor in souvenirs and eating while at your destination. If you plan to eat out for each meal, then establish a limit for each meal so you don’t blow your budget. Of course, you could set a big budget for that if you have saved the money. After all, for many people, the vacation is not having to cook at home and the meals are part of the adventure. 

A more frugal traveler, though, will stay in a hotel that offers complimentary breakfast. But let’s say that your vacation is a beach house or a mountain cabin that allows you to bring your own food to cook. Budgeting for that would be having for meals is similar to your meal planning at home. 

As you plan, don’t forget the cost of getting around while you are traveling. Depending on where you are going, you may have to rent a car. You can find plenty of deals on rentals if you look, and there are some hacks you can employ to get the best deal. 

If public transportation is available, that could be a cost-saving option. Taxis or ride-sharing is an option as well but more challenging to budget for given that the cost of each ride varies, and you likely won’t know how often you’ll use them.

Getting there is half the fun. And half the cost, too.

If you plan to fly for whatever trip, there are optimal times for buying airline tickets. For a trip in the spring, buy tickets 90 days in advance is best. Winter trips would be 62 days in advance, summer 47 days in advance and fall 69 days in advance. 

To get better pricing on airline tickets, avoid peak times and heavy travel periods during the year if possible. Traveling to visit family over a holiday, however, can be tricky in that regard. To save, you may have to avoid the popular times during the day to fly and opt for a super early morning or late evening flight.  

Going on a long trip may require a lot of luggage. In which case, you have to budget for baggage fees beyond the one carry-on. Some domestic and international airlines don’t charge for the first checked baggage. Others, however, do charge, ranging from roughly $17 to as much as $48.

Driving to your destination may be a less expensive option unless it’s outside of North America. Then you’re just budgeting for the gas you will need. And fortunately, the federal government has a handy tool for estimating the trip cost for your gas-powered car. 

Electric and hybrid vehicles will have a different cost, possibly lower. You can use this tool to estimate your expense for a trip using a hybrid car. Electric cars are trickier because they require charging stations, so you have to spend more time planning the road trip to hit the stations and wait for charging. The median range for an electric car is roughly 114 miles. Charging time varies depending on the car, its equipment and the available charger. 

You could rent a car instead of racking up miles on your personal car. In fact, renting could be a cheaper option than driving your own if you consider the wear and tear on your car. Every mile you drive is another mile of depreciation. It’s more miles toward replacing tires and brakes. And if you happen to lease your personal car, those extra miles for vacation count toward the allotted amount under your lease. 

No matter how you travel or why or where you want to ensure that while that it doesn’t have a big impact on your fiscal health. Having a budget in place will help you have a stress-free pleasant trip. And if it’s for vacation, then you can enjoy the benefits it is supposed to bring without the worry of how you’re paying for it when your back.