Trips To Expensive Destinations Can Bust Your Budget

Posted on August 22, 2008

Throughout my life, I have enjoyed watching people and learned a great deal by observing their actions. Last week I had a great learning opportunity. I spent most of the week attending the National Speakers Association’s annual convention in New York City and believe me, there are plenty of people to watch. The convention was held at the Marriott Marquis on Times Square. I was a presenter at the convention and had the privilege of delivering a program titled “Speak for a Living, Invest for a Life.”As you might expect, with a title like that, I’m interested in the way people spend their money. In my speech I defined the differences between a Lifestyle of Success, a Lifestyle of Failure and a Lifestyle of Average and how spending habits determine which lifestyle you live. I gave several examples of simple lifestyle changes that could lead to the creation of wealth and eventual financial independence. I explained why earning a living and building wealth are not the same things; that it’s not how much you make, but what you do with it that determines your future.

Busy Times Square provided a wonderful place to watch and observe people’s behavior. They were buzzing around so thick it reminded me of a hornet’s nest that has just been hit with a rock. It’s easy to see why New York is called the city that never sleeps. The first thing I noticed was that everyone was focused on money; either earning it or spending it. There were sharply dressed businessmen and women hustling to and from jobs to earn money. There were shoppers spending money; several of whom I overheard trying to justify buying things they didn’t need, with money they didn’t have, to impress someone who didn’t care. There was even a naked cowgirl, an Elvis impersonator and a saxophone player all looking for handouts. It was quite a sight.

As a member who has attended the NSA conventions for nearly 20 years, I couldn’t miss this opportunity to see if being in an extremely expensive hotel would change the way my colleagues spent their money. The first thing I noticed was the lack of people in the lobby lounge, which at other conventions was a gathering place where it was difficult to find a seat. A few paid the hotel’s $11 to $19 price for drinks, but it seemed that most, including me, chose the short walk to nearby lounges where prices were often half that amount.

I saw more people sharing rooms at this convention than I’d ever seen before. Saving money seemed to be on everyone’s mind. I even decided to ride the subway back from the World Trade Center site rather than try to get a taxi at rush hour. That $2 ride compared to $20 in a taxi was quite an experience. I now know how sardines must feel. The subway was so packed the doors had problems closing, but I saved $18.

Everyone who attends New York should take in at least one Broadway play. I got to enjoy two and learned a bit more about saving a buck in the process. I wanted good seats, but in the process of shopping for tickets I learned that seats 10-15 rows back from the stage could be purchased for about half the cost on ones in the front row. I couldn’t imagine that I would enjoy the play twice as much by sitting a few feet closer so I got the less expensive tickets.

Not only did I save money, but I got a pleasant surprise when I went to my seat. The expensive front row seats were below the stage level, meaning that you would have to look up at the performers and were so close that you would have to turn your head from side to side to see all of the stage. My seat was at eye level and just far enough back that I had a full view of the stage. I had great seats, saw two marvelous shows and saved money in the process.

Visiting New York . . . I can’t imagine living there . . . is an adventure everyone should experience. There is so much to see and do, but it is also a place where you can spend a lot of money in a hurry. It’s a place where you can easily get in financial trouble. I overheard several of the attendees talking about how it was going to take months to pay off their credit card bills after the convention.

Here’s a tip! There are many destinations like New York that are fun, exciting and expensive; however, a little planning before your visit can help you enjoy the trips without the remorse that comes when your credit card bill arrives after you get home. The first advice is to set a reasonable budget for what you will spend and then double it. Don’t go until you can afford this additional amount. If you get back and find you didn’t spend it all, you will be pleasantly surprised and the trip will be an enjoyable memory rather than a regretful one.

When you plan to spend double the amount you think a trip will cost, it gives you discretionary funds to cover unexpected expenses and buy some of those mementos you just can’t live without. It will let you enjoy your trip and not come back broke and in debt.

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Trips To Expensive Destinations Can Bust Your Budget

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