Traveling is a great way to clear your mind and find memorable experiences. However, travel can be expensive and may require you to save up and budget your costs ahead of time. By taking time to consider your costs thoroughly, both for necessities and for leisure, you will have a working budget ready for your trip.
Budgeting for the Basics
Determine your method of transportation. Travel to the location of your choosing may be expensive. Determine the costs of taking a plane, train, coach bus, rental car, or cruise ship to your selected location. Air travel is the quickest option but may be costlier than train, bus, or car rental if the distance isn’t too great. You should also keep in mind the environmental impacts of each method of transportation. A cruise ship affords the greatest luxury and will often include a number of stops but is also the costliest option.
- You can compare plane ticket costs with Google Flights, SkyScanner.com, Expedia, FareCompare.com, or Kayak. Always research price comparisons before making your purchase.
Consider local transportation. Once you reach your destination, you’ll need further transportation to get around locally. Many people take taxi cabs, ride-sharing cars, local transit buses, or the subway to get around locally. If you have some extra money, you can travel more easily by renting a car at your location.
- Use your preferred search engine to research public transit at your destination. Not all cities will have all of the options mentioned above.
- You can compare rental car prices SkyScanner.com, Expedia, or Kayak as well. Always research price comparisons before making your reservation.
- If you are renting a car, you should also consider what rental agencies are close to your airport or hotel.
Consider lodging expenses. One of the more significant items you’ll need to budget for is your lodging cost. Lodgings vary greatly in cost and quality so be sure to consider your exact needs and what’s available at your destination. If your destination hosts many tourists, there will likely be a wide variety of hotels, motels, resorts, and bed-and-breakfasts.
- Pick a hotel that is located near the attractions you’re seeking. This will prove convenient and save you in local travel costs.
- Consider amenities like televisions in the rooms, internet access, and access to a swimming pool. You should also consider the quality and size of available beds and bathrooms, the availability of air conditioning, and whether or not they serve a complimentary breakfast. If you have any questions that aren’t answered by their website, call the front desk.
- Check customer reviews on Google and Yelp. Keep in mind that nearly every hotel has some excellent reviews and some that are terrible. Read as many as possible to get a comprehensive idea of the quality.
- Some locales will have hostels where you can stay at little or no charge in exchange for doing some chores.
- You can compare hotel prices and features on Expedia and Kayak as well. You can also use Hotwire, Hotels.com, Priceline, Travelocity, and Agoda. Always research price comparisons before making your reservation because different sites may have different prices at the same hotel.
Include food costs. Of course, you’ll need to eat during your trip so you need to budget for meals. Keep in mind that you’ll likely be eating out and that food costs can vary greatly between different places. Use your preferred search engine to determine local food costs.
- If you need to save some money on food, consider getting a hotel room with a kitchenette or at least a microwave and then purchasing some easy-to-make meals at a local grocery store.
Keep an incidentals fund. Always create your travel budget so that there is a little money left over. You’re likely to find some sort of cost that you hadn’t considered beforehand. It could be as simple as needing sunscreen for the beach or pharmaceuticals for an unforeseen illness.
Consider travel insurance. Travel insurance is commonly used to insure against a variety of significant unforeseen costs such as medical care that won’t be covered by your insurer because you’re out of network, lost luggage, falling victim to theft, or a transportation accident. Travel insurance can often be purchased from vending machines at airports or online.
- Allianz, World Nomads, Travel Guard, and InsureMyTrip.com are some websites that offer standalone travel insurance.
- You can also get travel insurance from general insurance providers like Geico and State Farm. You may be able to get a discount if you purchase auto, life, or home insurance from these providers already.
Budgeting for the Extras
Determine sight-seeing costs. Sight-seeing is a common practice for travelers. Think about the transportation, admittance and other costs related specifically to these trips. Most monuments, parks, and museums are free of charge but some may cost a small amount money. Research these sights beforehand so you can factor them into your budget.
- Look up pre-packaged sight-seeing tours in your destination. They may be the most cost-efficient and thorough way to see a locale’s major sights.
Determine your entertainment costs. If you’re planning on attending amusement parks, enjoying the local nightlife, or taking in a show, factor these costs into your budget. You may want to create a rough schedule of your daily entertainment plans so you can research them ahead of time.
- Use sites like Yelp and TripAdvisor to research local entertainment and get an idea of the costs ahead of time.
- Consider getting a AAA membership. They offer travel discounts at restaurants and entertainment venues.
Consider gifts and souvenirs. Many travelers purchase gifts for others other souvenirs for themselves. It will be difficult to determine the costs ahead of time so make a budget you can stick to.
- Make a list of the people you intend to purchase gifts for ahead of time and try to assign a rough dollar amount.
