Should I go on vacation or save money?

It really depends on what your goals are. If you want to save money, then it's probably best to stay put and focus on building up your savings. On the other hand, if you're looking for a new experience or adventure, traveling can be an amazing way to broaden your horizons and create lasting memories.



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Many people set aside 5-10% of their net yearly income for leisure travel, but this can vary greatly based on the type of vacations they're planning. Another popular budgeting option is the 50/30/20 rule: 50% of net income is spent on things you need. 30% of net income is spent on things you want.

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“In general, people should budget around $1,000 for a long road trip,” said Kyle Kroeger, the founder and CEO of the travel website ViaTravelers. “This will ensure that you have enough money to cover all your expenses and have some leftover in the budget for souvenirs.”

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The average vacation for one person in the U.S. costs about $1,919 per week. A vacation for two people will typically cost around $3,838 per week.

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On a $5,000 budget, you'll be able to spend a week at a nice all-inclusive resort while still having extra cash for airfare and day trips.

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That 20% is an average, and what it represents can vary dramatically by career, so make sure you ask your hiring manager to tell you exactly what the travel percentage means for the position you're applying for.

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