Whether you are planning a vacation abroad, or even just weekend getaway at the beach or a nearby resort, having a budget of the amount of money you plan to spend is highly important. This is to make sure that you will be able to afford the trip, know how much to save and willing to spend and of course, to avoid running out of cash during your vacation.
If you’ve already decided where your destination is, it’s time to know how much the trip will really cost you. When creating a travel budget, you have to take into consideration both big and small expenses. Feeling lost? I’ll help you with that.
Budget for Transportation
This will take up the biggest part of your budget, depending on your vacation destination. Create a budget for all major and minor transportation expenses – airfare, car rentals, parking, gas, trains, bus fare, etc. Check with your travel agent or research online to know how much the different modes of public transportation cost because it’s more affordable. If you are planning to have more than one city on your itinerary, make sure to research the cheapest options for getting from one place to the other.
Budget for Accommodation
This will also take a big chunk of your expenses but something that you can actually save on since there are a lot of options. Hotels can be expensive but there are hostels, guesthouses, or rentals that can be less pricey. Once you choose your lodging, be sure to multiply the cost by the number of nights that you will be there. Most rooms have prices for a maximum of 2 persons only so make sure to check the extra costs if you are traveling as a group.
Budget fo Food
Although hard to estimate, you can search online for bloggers writing about their travel experiences where you can most probably read about how much they spent on their food expenses. If you want to save on your travel, research on local food joints that aren’t high end. Not will you able to enjoy authentic local food, you’ll also be able to save some cash. Restaurants in touristy places are undoubtedly expensive. Also consider cooking your own meals if your accommodation permits to save even more.
Budget for Activities and other Entertainment
Make your itinerary to know exactly what you will be doing and where you will be visiting. Most tourist attractions aren’t free so check the exact fees of parks, museums, shows, etc. If you are going to a resort or a beach, make sure to check the prices of certain activities that you might be doing there.
Budget for Shopping and Souvenirs
It’s quite impossible not to purchase something during your vacation so set aside a strict budget for shopping and make sure not to go overboard – both your budget and luggage weight.
Budget for Emergency
Set aside a little bit of money for emergencies. You’ll never know when you need money for an accident, important long distance phone calls (if traveling internationally), ticket replacement, etc.