We recently returned from an incredible vacation, spending a week aboard the stunning Wonder of the Seas by Royal Caribbean, along with a few days exploring Florida before and after the cruise. While in Florida, we were fortunate to enjoy some beautiful beaches, explore Universal Orlando’s Islands of Adventure and Volcano Bay, and even had an inspiring visit to the Kennedy Space Center Visitor Complex. Suffice it to say, we packed so much into about 11 days that would have previously been unimaginable to do in years. This brings me to a few valuable lessons we took away from this vacation—lessons that not only apply to life in general but also offer insights on wealth and money.
Vacations may cost a lot, but the experiences they create will last a lifetime. In fact, the more you do during a vacation, the more memories you create. As you may have heard from various studies by now, money spent on experiences brings a lot more joy and fulfillment than money spent on material things. For some, a vacation is meant to be relaxing and resetting for the soul, body, and mind. While lounging by the beach all day is a great way to relax, it may not create experiences that will enrich you and last a lifetime.
Enjoy them while also watching your pocket and budget. We noticed that there was so much to enjoy on the cruise ship, but a lot of it cost money that we had never budgeted for. Whether it’s those great photos they take of the family, specialty dining, the casino, island excursions, toys for the kids, and so on. Not setting a budget or a buffer for your spending may end up costing you a lot. Have you ever noticed that when you are on vacation or in a different place and environment from home, you are more likely to spend money on something you would otherwise be hesitant or think twice about spending? That was the case on the ship and on the various islands we visited. Had I set a clear budget for how much I wanted to spend, it would have helped keep things in check.
You don’t just enjoy and create memories that last a lifetime; you also get to learn a lot. While this is not something that started with this vacation, I have always been the type that extensively researches any place I visit, starting from the geography, history, and everything in between. For example, while in Florida’s Space Coast and the Port Canaveral area—and later Orlando—I started by looking at the map of the area, surrounding towns, cities, lakes, rivers, etc., and did extensive research on it. By the time I left these places, I knew a ton of new information about them, which will help me enjoy them even more on future visits.
Post-Vacation reflection is just as important as pre-vacation-preparation. In addition to unpacking, doing the laundry, and putting things back where they were, post-vacation reflection is just as important. This entails a financial review of how much was spent, whether any debt needs to be repaid, and what was wasted, etc. Additionally, assuming kids were part of the vacation, it’s valuable to gather everyone in the family and go over all their memories from the trip—what they liked most, what they would have done differently, and how to take this experience and use it for future vacations. Most importantly, discuss what you enjoyed and had a great time doing, and what you would like to do again.
Vacations may be costly and, ironically, drain your energy, but if planned with intention and careful consideration, they can provide you with a lifetime of memories, experiences, and knowledge.