7 Steps to Planning your Next Vacation - Kotak Bank
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A good vacation can create a multitude of memories that can remain with us for a lifetime. A good vacation however, requires a considerable amount of planning, which while exciting, can be a bit overwhelming due to the sheer range of options available. To help ease that problem, here's a list of things to take into consideration while planning for your next holiday:

Pick your destination

Think about the kind of place you want to visit and the kind of experiences you want to have. You can choose between the irresistible charm of a sea side getaway, the imposing beauty of the mountains, the enigmatic allure of the urban jungle and more such fascinating options. There is a humongous variety of experiences to enjoy and a quick online search can help you zero in on your place of choice.

Decide on the length of your vacation

Aside from your choice of destination, the duration of your getaway is also an important factor contributing to the overall cost of your vacation. A longer vacation gives you more time to explore the beauty and culture of the place you want to visit, so you will need to take a call depending on where your interests lie.

Work out the estimated costs

Once you have an idea of how long you intend on holidaying, you can go ahead and research the costs involved. This hinges on the kind of vacation you want to have; a luxurious getaway, an adventure filled escapade, or one where you can experience and appreciate the culture of a place, or a blend of it all. Here's a small round up of a few things you'll need to take into account to arrive at a fairly accurate budget estimate:

Travel essentials

You will require specialized gear and equipment based on your location of choice and the kinds of activities you want to engage in. You will also need basic travel equipment like a medical kit, toiletries, jackets, gloves, sunglasses, etc.

Travel and transport expense

This includes the cost of getting to your destination (airfare, railway fare etc.) as well local transport costs once you reach there.

Hotel rates

Your hotel expenses are largely influenced by the type of hotel you stay in; a luxury hotel will definitely cost more and might cause you to back-pedal on some of the other activities you have in mind. A guest house or an Airbnb might also be an interesting alternative to look at, as it may allow you to save more for other areas of your holiday.

Cost of various attractions and activities

This covers entry fees and ticket costs for the different sights and attractions. A good tour package can help you save in this area, but it is also a rich and rewarding experience to go ahead and visit these places without a tour group. Expenses which you might incur for recreational activities like spas, adventure sports etc., should also be considered.


While on vacation, the local markets always seem inviting with their colours and bustling crowds. It is advisable to make a small shopping budget for times like these.

Set yourself a goal and start saving

The next step is to establish a clear timeline by the end of which you will reach your desired budget amount. Take into consideration any additional costs which might crop up during this time period and decide on an amount which you can set aside on a regular basis to reach your goal. Now you can go ahead and start saving! A Recurring Deposit account might be of help as it brings you the benefit of being able to rake up more money by way of interest.

Keep yourself motivated

Your savings journey might span over a couple of months and it is important to keep yourself motivated so you don't lose sight of your goal and get stressed about saving.

Save whenever you can

An important trick that goes a long way in helping you reach your desired savings target is to identify any unnecessary expenses that you might be sustaining and cut back on them.

Finally, if you're approaching the end of your savings journey and you still find yourself falling short, you can bridge the gap by taking a Instant Personal Loan. The goal is to be able to unwind and really enjoy your holiday, and taking a personal loan can help you achieve that end.

Now that you have an idea of how to go about planning your vacation, you can get started with a fair amount of clarity. For more tips on travel budgeting and saving, check out our other articles.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.