Contrary to popular belief, the key to a successful vacation isn't to book in at the most fabulous resort or to take the most exclusive tour, it's to make a viable travel budget and stick to it so you're not assaulted with credit card bills you can't pay when you return. You probably can't afford advice from a famous expert like Dennis Gartman, but all you really need are a few hints and tips and the will to follow through on them. Here's our advice.

Don't Travel on Credit

The most important aspect of travel budgeting is to make sure you actually have the money to pay for your trip. Don't do all your traveling on a credit card and hope to pay it off later. You'll end up paying half again as much as your trip cost just in interest. That doesn't mean you can only go on vacation if you're rich. It just means you have to look for special deals on Toronto downtown bed and breakfasts to afford your trip, or that you have to start a special savings fund several months before you want to go.

Leave Room for Emergencies

Once you've calculated the cost of your hotel room, flight, insurance, food, tickets to attractions and shows, and whatever shopping you're planning to do, your budget is still not finished. In a perfect world you would arrive at your rented Mexico beachfront real estate and everything would go smoothly, but in reality there are always a few glitches. Maybe you don't like the hotel and need to upgrade. Maybe there are airport fees you didn't know about. Or maybe there's an emergency and you have to go home early. You should tuck a few hundred extra into the budget just to be safe.

Prioritize

When you're traveling on a budget, you need to make cuts somewhere, so decide what's most important to you and skimp on the rest. If you're a foodie, you might decide to put up with a cheap bed and breakfast so you can spend more on fancy meals. If you're looking to relax in luxury, book the best Puerto Vallarta vacation condo, but in the off season when flights are cheaper. If you want to go to an expensive attraction, pack your own lunches to save on meal costs.

Stick to It

Whatever you decide to do to make your vacation budget work, you need to actually stick to it while you're on vacation. If you sacrificed your shopping fund to rent Toronto Beach homes, don't bend the rules for every shiny object you come across. If you're cutting the restaurant budget, don't get lazy and go to restaurants anyway. It takes willpower to follow through, but you'll be glad you did.