Budgeting is something that most adults should be doing all the time, and while many of us fail to write out and adhere to strict budgets, we still have a basic mental budget to ensure that we don't spend so much on groceries and entertainment that there isn't enough left over to pay the bills each month. But if you're not familiar with the many benefits that come with planning a precise budget, then you may not realize that you can use it to help you save money for major expenses down the road, such as a down payment on a home or car, or even a luxurious vacation. So if you're tired of waiting for the recession to end so that you can start planning the 4-star trip of a lifetime to the sun-drenched beaches of Maui, the twinkling avenues of Paris, or the ancient and awe-inspiring pyramids of Giza, then here are a few budgeting tips that will help you to start saving now for your dream vacation.

The place to begin is with a household budget, if you don't already have one. This requires you to sit down with a pen, a notepad, and a stack of paystubs, monthly bills, and receipts to see what you're earning and spending in an average month (or you could try an app like Home Budget to do it digitally). You probably won't be too shocked by the income and the household expenses, but you may be truly surprised to see just how much money is going to frivolous spending on your credit card. Until you are aware of what you're actually spending you can't hope to start saving, so this is a necessary first step.

Now that you have a clear picture of where money is coming and going you can start to plan a budget that will help you to save for your vacation. In truth, you'll need to plan two budgets. You should first address your vacation options, including destinations and dates, along with airline tickets, lodgings, transportation, food, and other expenses. This will help you to lay out a basic budget for your trip. Once you have a lump sum in mind, add 20% to the total so that you'll have extra cash on hand
for unexpected costs. If you don't end up needing it you can always use it for souvenirs or extras like a massage or other entertainments.

When you have determined approximately how much your luxury trip will set you back you can work your household budget to start saving. This could mean curbing unnecessary spending or even cutting back in some areas (dining out, entertainment, etc.), depending on how quickly you want to save the money for your trip. If you're not sure how to cut back, you can easily find more than one blog post on the topic, with tons of tips and tricks to cut waste, conserve, and try alternatives that will save you money. And whether you're looking to go in six months or two years, all you have to do is create the budget that will allow you to save the money within your time frame.