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How to Budget for your Travels

How to Budget for Your Travels

It can be quite tricky to budget for your travels to places you’ve never been. But with some research on where you want to go, things start to get clearer. The key to budgeting is making sure that you don’t run out of money at any point during your trip.  

  1. Pick a destination, dates, types of lodging, and attractions.
  2. Estimate and list your biggest expenses
    • Transportation from point of original to destination – flights, trains, ships, busses, cars, etc.
    • Transportation once you reach your destination – private car rental, public busses, taxis, flights, trains, etc.
    • Lodging – how many nights?
    • Meals – how many?
    • Entry fees
    • Activities/Tours
    • Souvenirs
  3. Determine your trip length. When you know how long your trip will be, you can figure out a per day spending amount.
  4. Add pre-trip spending – passports, visas, travel insurance, prescription medications, and immunizations.
  5. Add a little fat to your budget to allow for a splurge here and there for the best travel experience. It will also allow you to be flexible in the unexpected nature of traveling.
  6. Include an emergency fund in case you get sick and need to visit a clinic or hospital or need to obtain medication.

Now that you have your list of expenses and when you will be traveling, you can figure out if you need to trim any costs and how much you need to save each month to make this great adventure happen!

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