Introduction
When you’re planning a vacation, there are so many little things that can add up to make your trip cost more than expected. For example, if you pay for your flight with a debit or credit card and then try to rent a car at the airport using that same card (which is usually how people do it), you’ll likely find out that the rental car company charges an additional fee because they don’t accept non-U.S.-based cards! That’s why deciding on—and sticking with—a travel budget is important.
Review your travel budget.
Before you start planning, it’s important to review your travel budget. This will ensure that you have enough money to cover all of your expenses and provide some extra for emergencies.
- Make a list of all the things that need to be paid for during the trip (flights, accommodation, food).
- Add up how much each item costs and add in any additional fees (such as airport taxes).
- If there are any optional expenses that could be included in this total (such as tours), add them up as well.
Add up all your expenses.
Before you can choose the right budget for your travel, you need to know what all of your expenses are. The best way to do this is by making a list of everything that could possibly be spent on during the trip. This includes basic things like food, lodging and transportation; but also more obscure items like souvenirs or taxi rides in foreign countries.
If you’re traveling with others who might have different budgets than yours (or if they won’t be contributing as much money), make sure they know what their share will be so they can plan accordingly.
Set aside money for emergencies.
- When you’re planning for your trip, it’s important to set aside money for emergencies. What kind of emergency do you need to prepare for? Anything from an unexpected flight delay or lost luggage could cause problems during your travels, and these situations can quickly add up into serious costs if not handled properly.
- How much should I save? We recommend saving at least $1,000 in case something goes wrong–but ideally more than that! The more time and effort go into planning a trip like this one (and the more expensive it is), the higher chance there is that something will go awry along the way (especially with airlines nowadays). Our recommendation: Aim high by saving as much as possible–you’ll thank yourself later on down the road when things aren’t going according to plan…
Make sure you have enough for the unexpected.
You never know what could happen on a trip. It’s important to have enough money for the unexpected so you can enjoy yourself without worrying about your finances.
- You get sick or injured and need medical attention
- Your flight gets delayed or cancelled, which means spending more time in an airport than expected
- Your luggage gets lost by the airline (this happens A LOT)
Be aware of credit card fees.
Many credit cards charge a foreign transaction fee of 3% of the purchase amount, which can add up quickly. If you’re traveling abroad and don’t have enough cash on hand, these charges will come out of your pocket. Be sure to check with your bank before leaving so that they know when and where you’ll be traveling, so they can alert you if there are any issues with using their card abroad.
Don’t forget about transportation costs.
When planning a trip, it’s easy to get caught up in the excitement of traveling and forget about the cost of transportation. While there are many ways you can travel cheaply (like taking public transportation or staying with friends), sometimes these options aren’t available. If you’re going somewhere far away and don’t have access to cheap flights or buses, then be sure that your budget includes transportation costs as well.
You might also want to consider what kind of transportation will be necessary once you arrive at your destination: Will there be taxis? Rental cars? Do they have Uber? These questions will help determine whether or not these additional expenses are worth adding onto your overall budget before deciding whether or not this is an affordable trip for yourself!
Plan ahead for lodging and food expenses, too.
When you’re on the road, food is often one of the biggest expenses. It’s also something that can be easily controlled by travelers who are willing to do a little research before they leave home.
First, consider where you want to eat while traveling. If there’s an area that has lots of tourists but not much else (like Times Square in New York City), then prepare yourself for higher prices there–even if it’s just pizza slices or hot dogs! You’ll want to look for local restaurants instead: these tend to have more reasonable prices and better food quality than tourist traps do. In fact, if possible try cooking at your hotel or hostel (if they allow it). There are plenty of online resources like Couchsurfing that offer advice on how best utilize kitchen facilities at hostels so as not only save money but also gain insight into what locals eat on a regular basis too!
Consider a cash advance from your bank if you will be in an area where your debit or credit card is not accepted or won’t be accepted by U.S.-based banks. If you do this, make sure to pay it back ASAP! It’s much better to spend cash on vacation than to spend money on a loan that will give you less time to enjoy your trip and earn interest during that time!
A cash advance is different from a loan. When you take out a loan, the bank gives you money and then expects to get paid back with interest over time. In contrast, when you get a cash advance from your bank account (for example by taking out $100), that’s all they will give you: $100. The difference between these two types of transactions can make all the difference when deciding whether or not to use credit cards while traveling abroad!
If it’s possible for me not only to avoid any fees associated with using my debit card but also earn some rewards points along the way (such as 2% cashback), then I would definitely recommend doing so! However if there are no rewards programs available on my card or if using one will incur an additional fee that outweighs whatever I could earn back through those programs then this might not be worth doing either.”
Conclusion
In the end, it all comes down to what you can afford. If you’re planning a trip that requires an expensive plane ticket and hotel stay, then chances are your budget will also be higher than if you were just going on a weekend getaway with friends or family members who live nearby. But no matter what kind of travel experience you want, there are ways to make sure it is affordable!
