How To Create A Budget For Travel

How To Create A Budget For Travel

Traveling soon? Here is everything you should know for creating a budget for travel.

1. Research The Destination You’re Going To 

Research where you’re going. This is going to give you a ballpark figure about how much you are going to spend. Certain locations are going to be more expensive than others. 

2. See How Much Money You Will Need In Your Budget For Travel

When you determine the overall cost of your trip, you will have a ballpark figure of how much you need to budget each day.

Calculate the cost of airline tickets– Sometimes your plane ticket will be the most expensive part of your trip. To see how much airline tickets cost, use airline search engines to gauge the price. For more information, I wrote  10 Ways To Get A Cheap Flight.

3. Pick The Best Lodging

Today, there are a ton of options. These options include:

• Hotels are your most common type of accommodation. In some cases, they can be the most expensive. But, you just have to do your research. If you’re on a tight budget, comparing hotel prices may be the way to go.
• Hostels if you are on a backpacker budget, hostels might be an affordable option, if you’re okay with sleeping in the same room with people you don’t know. Personally, I’ve stayed in some nice hostels and some not so nice ones. However, I’ve never had a terrible experience where I didn’t want to try another hostel. Also, some hostels offer single rooms if you don’t want to sleep in the same room as a stranger. Be sure to book in advance because these options tend to go quickly. Click here if you want to read more on hostels. 
• Bed and Breakfasts could be for you if you would like a more “homey” experience. They are typically private family homes. The hosts may also live there.
• In all-inclusive resorts, all meals are usually included. Depending on the resort, drinks (alcoholic and non-alcoholic), and activities may also be included in the booking price.

With any accommodation, be sure to read the reviews. The reviews will give you an indication if you should stay there or not. Also, be careful about the location, especially if you’re traveling solo.

4. Food

Food can either be affordable or it can eat your budget. To save money on food, if you stay in a place with a kitchen, you can cook your own meals. If this is not possible, try to book accommodations with breakfast provided—that way you can save one meal out of your day. Also, if there is a local market nearby, you can get small things to eat or put in the refrigerator/microwave to save money.

Another tip is eating a big lunch and having a small dinner. I say this because restaurants usually offer specials for lunch. Lunch prices are sometimes cheaper than dinner prices.

Activities– In your travel budget you may decide to add a section for activities. Activities can include museums, cultural sites, or attractions. Sometimes tickets can be expensive, so be sure to plan ahead. In some cities, they offer daily or weekly passes that offer discounts. There are city passes where you can visit a number of attractions at a discounted price. 

If you are a student you may be able to get a discount. Keep your student ID available.

Remember, for some activities like excursions, it is actually cheaper to buy the tickets when you get there versus online. 

5. Don’t Forget To Include In Your Budget For Travel Overlooked Costs Such As: 

• Tips
• Parking fees
• Souvenirs

6. Write It All Down 

You can choose to use an app or write it down your expenses in an excel spreadsheet

In Case You’ve Missed It, Check Out

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