How to set a budget for experiences and travel (2:27)

Video Summary: 

Does your budget account for experiences, trips and travel? Learn thoughtful ways to save and how to manage your spending while doing the things you enjoy.

[MUSIC PLAYING]
Narrator:
We brought this red chair around Connecticut and asked people, what do you like to do for fun?

Female:
I try not to be an old lady too early in life, so I definitely love to go out. I love to go to restaurants.

Female:
Concerts, games.

Male:
Really anything traveling.

Male:
I go to New York a lot.

Female:
I want to say two years ago I went on a cruise.

Male:
Just got back from a Europe tour. And planning to go back to Poland and Spain next month.

Narrator:
How do you plan for experiences and travel? Do you save? Do you create a budget?

Male:
So whenever I get money, I just try to throw that right in the savings account. And I just don't touch that.

Female:
Usually, 20 bucks a paycheck, something small, something not intimidating.

Female:
My entertainment account-- well, I call it my play money.

Female:
If I have anything in what I call my shenanigan funds, which is after you budget in your bills and other expenses, if you have anything leftover, then we could kind of dip into that and see any fun thing, whether it's a day trip or a nice little getaway.

Narrator:
When you're traveling, how do you stretch every single dollar to do all the stuff you enjoy?
Male:
We try to do three or four dinners in. And we try to eat all breakfast in.

Male:
You have like the hostel option, which isn't ideal, but it also allows you to get out and see places for relatively cheap.

Male:
I'm big into mountain biking. And it can get expensive. My mom was getting rid of her old minivan, so I bought it off her pretty cheap. My aunt was giving away one of our futon mattresses. I throw that right in the back. And I can slide my bike underneath the bed, and I'll go camping.

Narrator:
Do you get rewards with your credit card?

Male:
Yeah, I use a credit card with travel rewards, so when I go down there, especially if I'm flying, I can get points for that and get money back occasionally for some things that I'm purchasing as well.

Female:
I have two credit cards that I use for rewards-- one's a travel one, one's a cash back one.

Male:
Every dollar I spend, I get a point. And I racked up quite a bit of points. So I got cash back using that.

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Nice work!

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