If I can be honest, I’ve been dreading making this blog post. Not because I don’t enjoy this part of a trip (I mean it’s not my favorite, but I don’t hate it). But, I’ve dreaded it because I know that I don’t do this well. I may plan well, but I almost always make some sort of mistake that causes me to go over my travel budget. I plan to make another post about some of my biggest financial mistakes while traveling (cause there are quite a few), but for now I realized something. Nothing’s ever going to be perfect, especially if it’s your first time going somewhere or doing something.
You don’t and you won’t know everything. Regardless, there are always unexpected things that happen, and the best that you can do is plan and expect the unexpected. Some common ones are lost luggage, a broken suitcase, missed flight, and so much more. So before I get into my budgeting I want to express this so that you can go into each trip with a bit of wiggle room and to give yourself (and me) grace. Where you can expect the unexpected and to not let financial mishaps ruin your time on your trip!
Sooo let’s get into it!
I’m going to start with how I plan for regular international trips, such as my 10-day trip to Europe and a few day trips to Aruba or Puerto Rico.
*Stay tuned at the end for a travel budget of my month long trip!
Short-Term Trips
Before anything, I’m able to travel this way through saving. I’m still only a few years into being able to travel, and just learning about the benefits of credit card points and miles. So, for now, I save for all trips. My plan is to have a sinking fund in my high yield savings account for traveling. Banks such as ALLY have pretty high interest rates right now because of the state of the economy. So with every paycheck, I’m contributing a certain amount into that fund (this is in addition to other more important savings goals such as an emergency fund, 401k, etc).
Flights
Now, for the planning, I first visualize the price I’d be willing to pay for a flight. Now when I was planning for Europe, I looked at flights 6 months in advance with the intention of paying around $500-$600. I was immediately humbled the instant that I opened Google Flights. Just because I had paid that price around the same time last year, it’s not the same whatsoever. So keep in mind the economic state of the country when you’re thinking about this as well lol.
There are sites such as Google Flights, Skyscanner and others to track flight prices and find when the best prices would be. If you can go during an off peak season (holidays or summer), the prices for everything will reflect that.
So, since we knew that we wanted to go on this trip, we then had to plan around what flights were looking like. We were able to find flights for around $800 non-stop from New York. Now that wasn’t what we wanted to pay, but it was the best we could find given our various preferences. Also, remember that baggage is typically more expensive for international flights, unless you have a credit card that allows free checked baggage.
Accommodation
So for accommodation, it may be helpful to refer to my guide on how to plan a trip, but essentially you’ll want to get a general idea of what you’d like to do on the trip. If you want to do more adventurous activities, maybe you can stay further out from the city. If you’d want to explore more tourist attractions, or use only public transportation, staying closer to the city would be more beneficial. Then look at stays with everything that you’d need, and see what those prices are looking like. Once you have an idea of what those prices may be, add that to the flight price.
For my trip to Europe, those two things came up to around $1500 each person. I was traveling with 2 other people and this was Europe during the summer for 10 days.
Transportation & Excursions
Now comes the fun part. Where with what you’ve spent on travel and accommodation, you can determine how much more you have to spend and what are some non-negotiable activities that you want to do.
- Do you only want to spend $2000 in total but have to visit other countries in Europe? Okay, maybe get the Eurail pass, rely on public transportation while in each city, prioritize sightseeing/free activities and eat street food or cheaper options.
- Do you have to do some pre-planned excursions? Okay, book those excursions and evaluate your budget from there. If you have more, then you can include some shopping days or nicer restaurants. Or maybe take Uber instead of public transportation.
But regardless, evaluate how much you want to spend, and activities that you must do, and work back from there. Find out the average cost of eating wherever you’re visiting through websites like Budget your Trip which gives you options based on your travel style, budget, moderate, or luxury.
So, I make sure to write down every expense to the cent to know exactly what I’m spending and how much I have left that I’m willing to spend. Of course with mistakes or being in the moment, you may make some purchases to take you over which is okay. Leave room for overspending, you don’t want to pay all of this money for a trip and not enjoy it because you don’t want to spend money. Yes budget, create a travel budget, and leave enough so that you can fully be in the moment without worry.
Typical expenses for an international trip
- Flights: $300-$1000+
- Accommodation: $200/night + for a decent or nicer hotel. Hostels and more modest stays may be cheaper. Especially in locations in some “cheaper” countries
- Transportation: $5-$30+ depending on whether you only take public transportation or use rideshare. This is not an average price if you decide to rent a car.
- Excursions: ~$50 – $100 each excursion
- Food: $30 – $100 each day depending on where and how often you eat. This does not include luxury meals
Practical travel budget tips
- Plan Ahead: Before you leave, create a detailed travel budget. Account for accommodation, transportation, food, activities, and any other anticipated expenses. Having a clear plan will help you stay on track.
- Research Accommodations: Look for affordable accommodations like hostels, guesthouses, or budget hotels. Consider using platforms that offer deals and discounts, and read reviews to ensure they meet your standards.
- Travel Off-Peak: If possible, avoid peak travel seasons. Prices for flights, accommodation, and attractions tend to be lower during off-peak times.
- Use Public Transportation: Opt for public transportation whenever possible, as it’s usually cheaper than taxis or rental cars. It also gives you a chance to experience local life.
- Street Food and Local Markets: Embrace street food and visit local markets for delicious and affordable meals. This way, you can experience the local cuisine without splurging on expensive restaurants.
- Free and Low-Cost Activities: Look for free or low-cost activities and attractions in the area you’re visiting. Many cities have museums, parks, and events that don’t require an entrance fee.
- Travel Apps: Utilize travel apps that help you find the best deals on flights, accommodations, and activities. Some apps even offer exclusive discounts for travelers.
- Travel in Groups: If you’re comfortable traveling with others, consider joining a group tour or splitting expenses with friends. Group bookings often come with discounted rates.
- Stay Flexible: Remain flexible with your plans, as unexpected opportunities and discounts may arise. Being open to adjusting your itinerary can save you money in the long run.
- Track Your Expenses: Keep track of your spending to ensure you stick to your budget. Use a notebook, an app, or even a spreadsheet to record your expenses daily.
- Limit Souvenir Spending: Souvenirs can quickly add up and strain your budget. Be selective and consider choosing meaningful, inexpensive items or mementos like postcards.
- ATM Fees: Be mindful of ATM fees and take out cash beforehand. Cash may be even more helpful to budget if you take out just what you need or a bit more.
So there you have it, fellow wanderers and budget-conscious adventurers! Traveling on a budget doesn’t mean sacrificing the joy and excitement of exploring new places. In fact, it opens up a whole world of creative possibilities and unique experiences.
Remember, it’s not about how much money you spend; it’s about the memories you create and the connections you forge with the world. By budgeting wisely, you’ll gain a deeper appreciation for each destination and the beautiful diversity it holds.
So, dream big, plan carefully, and go forth with a backpack full of adventure and a wallet full of savvy spending strategies. Your journey awaits, and the world is yours to explore without breaking the bank!
Happy travels and see you on the road! 🌍✈️🚂🌴
For my month long solo trip, I’ll provide a screenshot of the excel sheet completed post trip. I filled in what I knew prior to the trip, then filled in expenses such as food and excursions after.
