Posted: November 3rd, 2015
Congratulations! Your essay won grand prize in the “Global Getaway” contest. You now have 5,000 U.S. dollars to spend on an international vacation. There’s only one catch—to claim your prize, you need to create and submit a budget that shows how you plan to spend the money. According to contest rules, you can spend the money only on the vacation—not for any other purpose. But whether you are managing money for a vacation, your job, or daily life, being able to create a budget is an essential skill to have.
In this Project, you will plan a vacation and create a budget.
Begin by spending some time daydreaming. Keep notes. Where would you like to go—Europe? South America? Africa? Asia? What would you like to do—see historical and cultural sights? Go hiking or mountain climbing? Relax on a beach in the Caribbean?
In your notes, list questions you will need to answer. For example: Where will you go? How long will you be away? How many people will accompany you? Are any of them seniors or children (who may qualify for discounts)? Will you take a guided tour or cruise? Stay in hotels or camp out?
Explore options and get numbers by surfing the web and using online websites. List links to the websites you use to obtain travel costs. You will submit these with your notes.
Make decisions about where you will go, when, for how long, etc.
Create a vacation budget using a spreadsheet. Be sure to include:
Number of people traveling
Methods of travel (airplane, car, train, etc.)
Accommodations (hotel, ship, camping, etc.)
Cost of activities (sightseeing, etc.)
Include at least one cost in a foreign currency and convert it to U.S. dollars. In other words, if food in France costs 40 euros a day per person, you will need to create and show a formula in your spreadsheet that converts the foreign currency (e.g., euros) to U.S. dollars using the appropriate exchange rate.
The total must be close to and not exceed 5,000 U.S. dollars.
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