Travel Budget – A trip starts from the moment you start planning it and in all planning, we must include the travel budget. We want everything to be perfect on that trip, in addition, we do not want to make expenses that escape our possibilities, so part of the planning must be to know the steps to calculate the travel budget and that it remains within our spending margin.
First of all, it is good to know some terms and reasons to create a travel budget from the first moment.
What is a Travel Budget?
A travel budget is a tool that helps you plan and calculate the costs and possible expenses that you will have on a trip, with the budget you can meet your spending plan and intelligently manage the money destined for the trip.
Reasons to Create a Travel Budget
- It will help you to know a little more about the travel destination before leaving.
- You will know the fixed expenses and variable expenses during the trip.
- A budget will help you save while you’re traveling.
- You will be able to control travel expenses.
- It keeps you attached to the travel plan.
How to Create a Travel Budget?
The travel budget must be created from the first day, it is a fundamental part of the planning of the holidays, with it we can establish the things we can do and know in the destination, if there is a cheaper version of an activity, what type of accommodation we can look for, the time we will take on a trip, among other things.
To create a travel budget the first thing we must do is investigate, know about the destination, and above all know very well the amount of money we have in our bank account and how much we can have.
Likewise, it is necessary to know the elements that will help us calculate the travel budget and we will see that in the next step by step.
Steps and elements to calculate the travel budget.
1. Take into account the days and season of your trip.
When you know the amount of money you can count on to go on a trip, we can start making the decision of the days we can have for it.
Another factor that you must take into account is the season in which you want to make the trip.
The seasons vary according to the destination and we must place them in the national holiday periods of each country, for example, in the northern hemisphere the high seasons are between July and September and also between December and January.
2. How many people travel.
Another vital element for the calculation of travel is to keep in mind the companions, it is not the same to travel alone than to go as a couple or as a family, the expenses vary and a lot, in addition to the types of trips.
For example, if you are a solo traveler you are probably interested in staying in a hostel sharing a room with other travelers because this way you save and meet new people.
On the other hand, a trip as a couple or with a family is likely to prefer a more private accommodation, that changes the costs on the trip.
3. Choose a travel destination.
The destination is another important factor for the calculation of the travel budget. Knowing the destination we can investigate the average cost of expenses.
Whether you decide to travel within your country or prefer to take a trip abroad, it is important to check the prices according to the season.
If your budget is tight, the recommendation is that you have three options of travel destinations to better study which one fits your budget and where you can enjoy to the fullest without spending all your savings.
Check out Numbeo which is a page that shows you the average cost of living of a country and its major cities.
4. Determine how much you can spend on the trip.
With the above ready and with a clear average amount of money earmarked for the trip, you can start creating a travel itinerary.
In this itinerary, you can calculate your expenses per day taking into account the fixed and flexible expenses of the trip, which you will know below in the following steps.
5. Take into account the fixed costs of the trip.
Fixed expenses refer to those that you will have to do yes or yes, that is, they are the necessary expenses to undertake the trip.
Do a search for accommodation in Booking.com applying their search filters, they will give you the option to search for the accommodation you want according to your budget.
With Numbeo you can know how the average food costs are in different cities around the world, but you can also know this by visiting forums such as TripAdvisor.
With the apps, you only have to choose the city and it will show you a range of places to eat, the opinions of the users, and most importantly the price.
It is an extremely important fixed expense, the times have changed and travelers need to have insurance that protects us from any eventuality during the holidays.
You can consult, if you have medical insurance in your country, if it covers events during the trip, if it does not, you can buy one that will last the time of the trip.
To do this we go to the next step.
6. Get the cheapest air ticket
To get the cheapest travel tickets to visit Skyscanner, with its search tools by cheaper month or by dates you can see when it may be time for the trip to make the plane ticket cheap.
Low budget lines are an excellent option to get cheap flights, with Skyscanner you will get this type of flight.
7. Take into account the Flexible Travel Expenses.
Flexible expenses are those that vary according to the day of the trip, they are expenses that are not essential. For example, one day you can decide to walk around the city and not take public transport or in one day you will only do activities that are free.
It is for this reason that you should do deep research of everything you can do and know about that destination, museums, tours, and unique activities write them down in your travel planning log and add the possible costs of those activities. Among those costs make an average of expenses for:
TOURS AND RECREATIONAL ACTIVITIES.
When you research all the things you can see and know in the travel destination, you will have an idea of the things you want to visit, for example, museums, recreational parks, popular party places. You can visit the official pages of each of these sites to know the cost at the box office.
Take into account the cost of visas if it applies to your destination.
The gifts that you want to take to family and friends, and any other expenses that are not fixed such as tips.
8. Research how to make the trip as cheap as possible
In that research work some tricks travelers to spend as little as possible if your trip is low-cost style. For example: choose accommodation in the city center, so you’ll save on transport.
Buy food in supermarkets or local markets, it is usually cheaper and you can also get ready food.
Research what are the activities offered by the city with free admission, for example, museums, festivals, or parks.
9. Bring extra money for emergencies.
Always carry extra money that will help you solve an emergency during the trip, include it in the travel budget so that it does not catch you off guard and does not misalign the exclusive expenses of the trip.
10. Create a daily expense log.
If you need a little more organization to not spend more than budgeted, keep your travel log to write down the expenses of each day.
It will be a sheet that will help you have control of how much you have spent and how much you can spend on what is left of the trip.
The Travel Journal is a digital tool that helps you with the planning of the trip and allows you to carry a log to record everything you want, you can print the sheets you need during the trip or take everything in digital format, it will also serve you for all the trips you make.
Happy holidays from me to you.