Being passionate travelers, it is always not easy to hop on a plane and go wherever we wish to. Traveling is a great way to clear your mind and find memorable experiences.
However, Travel can be expensive sometimes and require saving up and budget our costs ahead of time, so that it is not heavier on our pockets when we return home .
We make sure to take time to consider our costs thoroughly, both for necessities and for leisure, and we will have a working budget ready for your trip. Here , we are sharing some of our handy steps or tips that we always follow to plan for any trip by keeping a check on the budget.
Step 1: Define what we can afford
- To be very honest, like many others, we don’t prepare our “ bucket list of the year” at the beginning of the calendar year. We decide our travel plans and destinations considering how much we want to spend on a vacation and how much we have.
- We first assess how much money we have available to take the vacation(especially international) keeping in mind of our ongoing expenses that we need to take care of when we return like house rent, utilities, school fees, Home loans etc.
- We just follow a simple spread sheet which has how much we want to budget for XYZ destination and how much it would cost us in actual.
Step 2: Consider the cost of Visa
- If you are travelling international, then pls consider the cost of Visa fees. Visa fee will vary greatly, depending on where you live and where you are traveling. So , make sure to do some research and add this cost to your budget list.
Step 3: Consider a budget for major transportation
- Always consider transportation to the choice of destination is a huge money that you should consider in the planning stage. Control 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. We often take road trips if the distance from our start location to the destination is less than 6-7 hours. It can save a lot of money which you might spend on an air fare. After all, Road trips are always fun.
Step 4: Check on Accommodation Cost
- One of the more important items you’ll need to budget for is your housing cost in your travel. Accommodations vary greatly in cost and quality so be sure to consider your exact needs and what’s available at your destination.
- We usually prefer to stay in a 3 or 4* hotels or resort which includes bed and breakfasts. We always pick a hotel that is located near the attractions of that destinations. This is very convenient and save a lot in local travel costs.
- A great alternative to hotels these days is Airbnb , where you can book a rental apartment and experience living like a local. Even Homestays are great options these days. Plan out which location you will be staying in and how many days and determine the cost accordingly.
- Always research price comparisons before making your reservations. Our go to resources are booking.com, hotels.com and TripAdvisor.
Step 5: Make a budget for Food
- Of course, you’ll need to eat during your trip, so you need to budget for meals as well. 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.
- We always tend to save some here as we consider getting a hotel room with a kitchenette or at least a microwave and then purchase some easy-to-make meals at a local grocery store or carry some ready to make packets for us to fill our tummies.
- The reason we always prefer choosing a 3* or a 4* hotels with breakfast is that we can a full stomach food in the morning before we leave for the day and enjoy the local street food rest of the day. When you are traveling , avoid eating in fine dines and experience the local foods.
Step 6: Consider Price for sightseeing
- Sight-seeing is a common practice for all 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.
- We always try and book sight seeing tours or tickets before our travels so that we know where and how much we are spending, and it is quite hassle free. Pre-booked sightseeing tours are also cost-efficient and easy to pockets.
Step 7: Keep some handy for extras
- When we travel out, we only consider to budget gifts and souvenirs because we don’t really shop at every place we travel. If you are a shopping freak, then it is important to consider budgeting some extra funds for your shopping .It will be difficult to determine the costs ahead of time so make a budget you can stick to.
- Travel insurance is again an important cost factor that you should consider while planning the budget for your trip. The cost of this is going to depend on where you are travelling to, from and what level of cover you are comfortable with.
- Keep an incidentals fund is always helpful and you should 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 an umbrella if it rains or pharmaceuticals for an unforeseen illness.
You’ll have to really think about what is most important to you when you travel and tweak your budget accordingly. Hope these tips will help you in planning your next budget for travel.
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2 comments on “How to plan budget for your upcoming trip”
Thank you so much for sharing amazing article .
Thanks Pradeep. We are glad to know you liked it.