Core vacation budget is 8% of take home. But we tend to decide to put extra monies not allocated to other savings towards travel too (discretionary non allocated monies). So what we actually spend on travel is typically more like 13% of our take home (monies after 401K and all that other fun stuff). // For me it's a dollar amount that I put aside every paycheck. And extra monies that go to that are specifically based on if there is something in mind that we would specifically like to do that is above that travel budget. (e.g. 2016 travel budget: We budgeted to visit my mother-in-law in New Jersey in January before DS goes back to college. That comes out of and is part of our core vacation budget). We're using extra monies not originally in that travel budget to extend the trip to do an overnight in Manhattan, see the new world trade center observation deck, and see a Broadway show. We didn't have the money in our regular travel budget for this - already allocated core vacation budget monies to a little spring break weekend get-a-way (March 2016) and a summer trip to Colorado (Aug. 2016). We do, though, have discretionary money / slack in our general budget and threw extra monies into the vacation fund for this trip to fund this little extension in January. That mini extension is actually costing us about 1K.
I love planning vacation trips and going on vacation to a certain extent -- so whimsical and fun. And our budget in my opinion is reasonably generous, and lets us do some really cool things and stay at pretty nice places. I really don't have any desire to do more than what we typically do annually -- a week long vacation, a mini trip, and two mini trips to visit relatives. // If travel is too expensive, though, above the percentages listed I just don't want to do it. It's not like I really have far away exotic places on my bucket list, and I just don't want to spend the money. I've told DH though that if there is something above what we normally do he'd like to do to let me know and I can put extra monies toward that vs. paying down our mortgage. If he has something on his bucket list, we should consider doing it. For the time being he told me though he's cool with what we are doing and said he'd keep that in mind and let me know. Emergency funds are funded and other savings goals are all on track. I looked at maybe doing an Alaskan cruise, but when I priced it out I really lost all interest. Europe is the same for me too. When I priced it out, I just wasn't interested. Do note, I've been to Europe a few times before too. // Future trips I'm looking at that work well with my budget are South Dakota -- Badlands, Mount Rushmore, and other sites around there -- a trip to Bar Harbor, Maine/Acadia -- Colorado again (a favorite) // I used to do Orlando quite a bit, but I'm for the time being not interested -- It's lots of fun, but I think I've just been too many times and am burned out on that -- other place at the moment have more appeal, and Orlando is not even on the list. I've been down there, though, about 38 times since 1971, more than anyone needs to do in a lifetime IMHO.
Oh and for kids to study abroad and travel a little in Europe or wherever when they are there, etc. is to me education and comes out of college monies. Monies are in the college fund to fund things like that, but monies aren't in my vacation budget for that. I'm mentioning that as my 19 year old just completed at four and a 1/2 week study abroad summer program in Florence and is spending five nights at a youth hostel in London -- just flew there today before coming home. // If you have the disposable income I think funding things like this for your kids are so cool and are something that they will look back on for their entire life. I was an exchange student in France when I was 16, and there I things that I draw back on from that experience even today, and I'm now in my 50s. Just saying this is the one place to me that a splurge on travel (if within reason and if it works with your budget) seems very worthwhile.
