5 travel expenses that could be worth splurging on

At its best, wealth can be a tool that allows you to live a life that’s aligned with your values – and your interests. Having a pool of wealth can also allow you to unwind on a well-planned and well-deserved vacation.

Many times, the motivation behind taking a vacation is to take a break from your daily routine, get some R&R, ground yourself or simply make some new memories with loved ones. It’s important to sometimes treat yourself, and going big on a vacation so that you can have a true mental break from the rat race of normal life can be well worth the dollars. Fortunately, that’s where luxury travel comes in – luxury travel is a wide term, but it often includes experiences like booking larger, more intimate lodging or opting for end-to-end experiences that center the local culture.

Despite the common saying that money can’t buy you happiness, some studies show that in many ways it actually can. Yes, you read that right: Money can buy you happiness. But how?

The art of "Happy Money"

“Happy Money” by Ken Honda posits that money can be a tool for not only building toward the practical goals that we commonly think of – like retirement, education or emergency savings – but also toward happiness, assuming it’s spent in certain ways. The book offers some practical suggestions on how to use your funds to maximize your happiness, including buying experiences over things, making whatever you a buy a special treat, using money to buy time, paying upfront so that you can consume later and investing in others.

Fortunately, a great vacation can check almost if not all of these boxes – happy money indeed. But before you go for the jumbo margarita (despite its worthy splurge status), consider a few other ways you can frame certain kinds of vacation spending as an investment in your personal bliss.

Make it a treat – and an unforgettable experience

Since most of us don’t go on vacation all that often, it can feel particularly meaningful to turn a vacation into a splurge/treat when we do go on one. Spending in these rare moments can even sweeten the experience.

Particularly if you’ve got a long flight ahead to arrive at the destination where you’ll be vacationing, upgrading your airfare might be worth it. For example, you won’t be so squished during a long overnight flight, and you might even have a better selection of on-flight movies to flip through.

And whether you’re an adrenaline-chasing adventure traveler or a slower-paced traveler who prefers the beach, you might consider adding some bespoke travel experiences to your itinerary. That could involve:

Some of these add-ons may be more appealing than others. But it’s your vacation, which means you get to pick and choose the luxury experiences that add value to your trip.

Your time and peace of mind? Priceless.

Putting some of your vacation funds toward a mental break or to free up your time can be well worth it. You know what they say: Time is money. And whoever they may be, they’ve got a point. But what could this extra time and peace of mind look like on a vacation?

If you’re traveling with children or pets, it might be worthwhile to plan ahead for child care or pet care accommodations. This could free up your schedule to adventure with your partner or indulge in a spa day alone. But whether this is worthwhile will depend on the type of vacation you’re hoping to have. On some vacations, bringing along a travel nanny can give you the opportunity to enjoy some quality, kid-free time. The price range will vary based on the size of your family and how many hours of child and/or pet care you need each day. Having said that, you can expect to spend anywhere from $24 an hour to $400 or more per day.^,

And even with the most detailed travel itinerary, it’s impossible to plan for everything – an unexpected circumstance could come along and derail your plans. Some extra precautions that could provide much-needed peace of mind may include:

You may not love the idea of paying more upfront to prevent an unlikely hiccup during your trip. But if you’re planning a luxury Caribbean cruise during hurricane season, opting for refundable tickets might not be a bad idea.

Invest in others

Spending on others – like on gifts or through charity donations – can provide a sense of accomplishment and happiness. Taking your family or other loved ones on vacation can lead to a similar sense of psychological satisfaction. Splurging on a vacation isn’t just about you – it’s about the people around you, too.

This goes hand in hand with gift-giving, whether that’s treating friends and family in your travel group or buying luxury souvenirs for loved ones at home. That may be well worth it to you – since research suggests that spending money on others leads to greater happiness than spending money on ourselves.

The bottom line

Traveling involves more than simply arriving at your destination. More often than not, it’s about having an adventure, experiencing new things and making memories with people you care about. Money can go a long way, especially in the world of maximizing your vacation while you’re on it. Splurging on a few extra travel expenses could make the difference between a slightly stressful and truly relaxing and refreshing trip. Like anything else, you’ll want to lead your decisions with your unique goals and values in mind – and have fun while you’re at it!

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