In: Accounting
Q.4. What do you mean by Budget? Suppose you are going to enjoy your summer holidays in France. Make an expected budget keeping in mind all of your requirements.
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a group of people, a business, a government, or just about anything else that makes and spends money.
An example of budget is how much a person plans on spending on a summer holiday in France
Depending on the feasibility of these estimates, Budgets are of three types -- balanced budget, surplus budget and deficit budget.
The very first thing while planning a trip is to select the countries you want to visit.
AVOID THE FOLLOWING TO SAVE MONEY
• OFF SEASON SAVINGS: If at all possible, save big by visiting France during the off-season (late October – March, except holidays) or during the shoulder season (late September-October and late March-early May), when the savings are still significant and the weather usually quite comfortable.
• AVOID SLEEPING NEAR THE BEACH: Traveling during the high season (June-August)? If possible, limit your exposure to the most expensive destinations (all beaches and coasts). Paris is also at its pricey peak from late May through the end of July. Consider smaller cities and villages. During June and July, for example, a week traveling through Provence or the Gard region will still be cheaper than hitting Nice, the Cote d’Azur, or sticking only to Paris. Still want to hit the beach? Sleep inland in a small village or B&B, and take day trips to the beach.
• PARIS CAN BE CHEAPER IN AUGUST: Paris empties out in August when locals go on vacation. This can be an interesting time to visit: Many smaller stores and some restaurants close, but hotel rooms tend to be easier to book and a bit cheaper than during June and July. (Here are some thoughts about visiting Paris in August.)
• AVOID FASHION WEEK IN PARIS. Are your Paris hotel searches turning up absurdly high rates? You might be planning to visit during one of the city’s fashion weeks. Although it sounds glamorous, the sky-high rates and crowds are soooooo last season. Upcoming dates: September 23 – October 1, 2019; February 24 – March 3, 2020.
• PARIS ISN’T THE ONLY AIRPORT: Flying from North America? Paris is not your only airport option (although you can find cheap flights). If much of your trip consists of travel in the south, for example, check prices on flights to Marseilles and Montpelier (which may include a transfer in Paris or a connection in another country). Even if it’s a bit more expensive, you can end up saving time and money on train tickets and rental cars by flying into an airport closer to your destination.
• OPEN JAW TICKETS SAVE TIME AND MONEY: Consider flying into one city and home through another. (For example, into Paris and back home from Marseilles.) These “open jaw” tickets can help you save money and time, as you won’t have to circle all the way back to your point of arrival in order to fly home. Best of all, the flight tickets are often about the same price as simple round-trip tickets.
• TRY A LOW-COST AIRLINE: Consider low-cost airline options from the US to France, including Norwegian Airlines which flies to Paris from several US cities.
• CONSIDER XL AIRWAYS: With all the excitement over the low-cost carriers serving the US-France market, we feel that XL Airways sometimes gets overlooked. The carrier offers some of the cheapest fares to France from the US, and, unlike the low-cost airlines, includes a piece of checked luggage in its fare. (We just found a $353 Newark-Paris round-trip flight in September. Good deal!)
• “HUB IT” FOR SAVINGS: Not finding cheap airfare to France? Try “hubbing it”, by flying first to any cheap European destination (for example, finding a cheap flight to Dublin on Aer Lingus) and then catching a budget flight from there to France (for example, on Ryanair). If your schedule is a bit flexible, you could find some savings.
• AVOID TAXIS INTO PARIS: Flying into Charles De Gaulle? We’d recommend avoiding taxis into the city, unless you’ve got a big family or lots of luggage. Some of us prefer the RER, while others always take the bus into town.