Travelling is expensive. Now that we’ve gotten that out of the way, we can help you save money on travelling with careful planning and budgeting.
There’s no worse feeling when you’re on holiday than constantly checking your bank balance to see what you can afford for dinner or for the next day’s outing. A budget that takes into consideration all your expenses will help you keep track of your money and help you better spend it on the things you really want to do when travelling.
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What are your most expensive items?
Start your budget by listing all the major expenses up front. Your most expensive items will be your airfare and accommodation deposit. But don’t forget about Visa, Passport, Travel Insurance costs, and buying luggage if needed. List all the costs you’d incur before leaving on your holiday.
What are your holiday expenses?
Calculate the cost of accommodation fees remaining (after you’ve paid their deposit). Work out the costs of their services you’d be making use of, such as laundry or shuttle transfer fees to and from the airport.
Have a look around at restaurants you’d likely visit to work out a daily food and drink budget. Does your accommodation offer breakfast? Would you require buying or cooking three meals a day? What would the average cost be for those ingredients and restaurant meals? You might not arrive at the exact prices, but these would provide a budget for you to know how much money you’d need to save up to cover those costs. As we mentioned, you don’t want to be fretting over the price of a meal when you’re on holiday; it is supposed to be a time of fun, enjoyment, and relaxation.
If you’ll be partaking in activities and tours, you can find out their prices and fees ahead of time. Listing those costs into your budget will give you more control over what you can and can’t do – before you even land at your destination.
Hiring a car for transport, or relying on taxis or Uber, will still work out a fair chunk of your budget. Make sure you’re aware of the average costs of those, so you’re not frightened when you find out the cost of a taxi from your hotel to a popular tourist attraction.
Don’t forget to include a little extra money in your budget for souvenirs and trinkets. Buying those small mementos always adds to the pleasure and memory of a holiday.
The perks of a travel budget:
Knowing how much you can spend each day will be massively helpful when you’re on your holiday. Saving up money to cover the costs will be a challenge, but it will be worth it when you can cross off those costs on your budget and enjoy those activities when you’re on holiday.