Whether you were planning a family reunion, a much-needed getaway, or a bucket-list destination trip, your 2020 travel plans might have been totally changed or even canceled. Having a long-awaited trip come to end before it even begins can be disappointing and frustrating, but how can you re-purpose the planning, excitement, and finances toward something else?
Here are some useful ways to re-purpose the 2020 travel budget you had planned for:
Restock Your Emergency Fund
Although it might not be as glamorous as a week-long vacation to somewhere you love, putting the budget you had already planned to spend into your emergency fund can help build a financial cushion for the future. Even if you have a good financial cushion built up, it can never hurt to save a little more and be prepared for a really rainy day.
Save Now, Spend Incrementally
It can be hard to put all the money you’ve saved up back into savings, but you can make a new plan to purchase some things you’ve been needing/wanting! Take a look around the house and see what needs to be updated or replaced. Maybe your dishwasher has been giving you fits for the past couple of months, or you’ve been wanting to upgrade your old mattress, perhaps your family has been wanting a fun purchase such as an outdoor movie projector for movie nights. See what ways you can purchase a couple of new things throughout the rest of 2020 that can enhance your life at home while spending what you had already budgeted for your travels.
Plan for an Even Bigger Trip!
Canceling any type of plan can be a frustrating and annoying process, but think about what the next trip can be like if you include this budget and more! Do you have a destination that you’ve always wanted to go to, but has always been just a little too much outside of your price range? By putting 2020’s travel budget toward 2021’s and continuing to save, you could potentially get the opportunity to travel to a bucket-list destination.
Overall: Whether or not you’re able to travel in 2020, you can still build memories and plan for exciting times in the future!