Best In Wealth - Best Practices For Real People, Investments, Retirement Planning, Money Management, Wealth Building, Financi

I am often asked how much a family should spend on vacations. While that is entirely personal, most experts recommend that 5–10% of your net income can be spent on vacations. Many factors may change this number. Maybe you have a large family or your kids are into expensive sports. You might not have that income to spend on a lavish vacation. But to spend any amount on a vacation, you need to budget. You cannot go into debt. So how do I do it? I will share a great strategy in this episode of Best in Wealth. [bctt tweet="✈️ How much should you spend on vacations? How do you budget for them? Learn more in this episode of Best in Wealth! #PersonalFinance #VacationPlanning #WealthManagement" username=""] Outline of This Episode [1:04] We are heading on vacation to Europe! [2:38] How much you should spend on vacation [6:48] How we budget for vacations [8:20] Be aware of luxury creep [10:02] Be aware of entitlement creep [11:33] Do not be a vacation scrooge How to budget for a vacation You cannot go