Hey y’all! You know how near and dear teens are to my heart, right? One thing that I’ve noticed when we travel is that my teens don’t have a great sense of how much things cost. Travel opens so many opportunities for us to teach our teens the ways of the grown up world! Since our family has a big trip coming this summer, teaching our teens to budget for travel is a high priority. It's not just about saving money; it's about empowering our kids with financial wisdom and planning skills that will serve them for a lifetime. So, grab a cup of tea, and let's make financial planning as exciting as the adventures awaiting us! (Or as exciting as we can.)
Why Budgeting for Travel Matters
In a world where instant gratification is the norm, teaching our teens the value of planning and saving for their dreams is invaluable. Travel isn't just about the destination; it's about the journey, including the steps we take to get there. By involving our teens in budgeting for travel, we're equipping them with money management skills, teaching them to appreciate their experiences more, and showing them the power of goal-setting and patience, two skills that are lacking in our teens by design.
Start with a Dream
Begin by dreaming together. What destinations spark joy in your teen's eyes? Is it the blue waters of the Caribbean, the majestic mountains, or the bustling cities with their endless adventures? Let their imagination run wild, and then, gently guide them to translate these dreams into tangible goals. Social media is great for helping solidify teens’ dreams. I’ve been planning a graduation trip to Italy, and “I saw this place on TikTok,” is a common phrase. Have your teen start saving those videos to help them get a clear picture of where they want to go and what they want to do there. Another friend was telling me that she offered to take her nephew anywhere in the world for his graduation and he chose Tokyo, Japan. When she asked what he wanted to do there he said, “Tokyo drift.” A little research into a chosen location can definitely help fill out the picture!
The Role of a Travel Advisor
This is where the magic of working with a travel advisor comes into play. As your family's travel advocate, I'm here to turn those dreams into reality. Starting the process with a travel advisor not only ensures you find the best itinerary tailored to your family's interests but also secures the best pricing. Booking early is key, and as your advisor, I'll keep an eye out for deals and discounts that make your travel goals more attainable. Additionally, it is sometimes really nice to have an intermediary between you and your teen. When we went to Greece my girls wanted to see where Mamma Mia was filmed. Since most of our trip was in southern Greece, it didn’t make since to visit that location, which would have been another day’s travel. When the parents told them, we were wrong and ruining their lives! When the advisor told them, suddenly it made sense and they weren’t happy about it, but more accepting.
Budgeting 101: A Family Affair
Creating a travel budget is a fantastic opportunity for a family project. Break down the costs involved - flights, accommodations, activities, food, and souvenirs. Be transparent with how much you as the parent contribute, and how you will be budgeting for your part. Then, set up a savings plan. How much can your teen contribute from their allowance or part-time job? This exercise not only makes the trip planning more realistic but also more rewarding.
Then think about logistics. How will they save? Will you hold it or do they have an account? There are many options out there for families who want to give their kids the responsibility of having a debit card, but want to retain some control. This is also a great time to talk about exchange rates and what things can be purchased with your home currency (like hotels and tours) and which can be purchased with the local currency (like food and souvenirs). How far will their dollar go?
Visual Goals: Keeping the Dream Alive
Teens live in the moment, so keeping their travel goals top of mind is crucial. How about setting a dream destination photo as their phone wallpaper? Or creating a vision board in their room? Sharing their goals with friends can also add an element of excitement and accountability. If their goals are front and center, it will be much harder for them to say no when something comes up, like dinner with friends or the newest Starbies drink comes out. Since you budgeted together, you can mention your goalss when they want you to spend money, like dinner out instead of cooking, or a new pair of shoes that aren’t needed but everyone else is getting. Teens are driven to instant gratification, and keeping their goals front and center will help them learn to pause and make another choice. Don’t forget the power of social media! Send them videos and images from your destination to help keep the excitement for the trip, and budgeting, alive!
The Journey of Saving
Encourage your teens to think creatively about saving. Maybe they can offer their skills for odd jobs, sell crafts, or even start a small online business. Every penny saved is a step closer to their dream adventure. And remember, small sacrifices can lead to big rewards. Skipping that extra coffee or movie night can add up to more travel funds. When I was in middle school I asked my grandfather if I could rake his yard to earn money, and he said yes, but only if I passed the interview process! Talk about teaching your teen a great life lesson. P.S. I got the job!
Remember, the journey is as important as the destination. Celebrate milestones along the way – the first $100 saved, the booking of the flights, the final payment. Each step is a victory, teaching your teen the value of persistence and hard work. Never underestimate the power of a thermometer hanging on the wall!
Budgeting Isn’t Just About the Money
Empowering our teens to budget for travel is more than just teaching them to save money; it's about instilling values of planning, patience, and perseverance. As your family's travel guide, I'm here to help turn this educational journey into an exciting adventure, filled with learning and laughter along the way.
So, are you ready to embark on this adventure with your teen? Book a discovery call today. I’d love to chat with you and your teen about your travel dreams and how we can make them a reality.
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