Budgeting for travel

Make a travel budget

If you remember just one thing from this few posts, then this should be it: make a budget.

Having a budget in place and, moreover, doing your best to stick to it can make or break a trip. It's well worth investing some time into planning your budget long before you even think about how many pairs of socks to take with you. This way, you will be free to enjoy your travels without having to constantly worry about how much money you have left and whether you can afford to do something.

To make your budget you will need to research the following costs: transportation, accommodation, food and activities. Sketch out a rough plan of where you will be going, what activities you hope to do in each place, where you will stay and how you will get there (and home again!). Then find out how much everything will cost (the internet is obviously great for this). Also, try to find out what the typical costs of meals are in the countries or areas that you will be visiting. Once you have an idea of what your total expenditure will be, compare this to what you are hoping to spend. You may have to adjust your plans a bit, for example by staying somewhere cheaper, or swapping an expensive activity for something less costly. On the other hand, you may be lucky and discover that you have a bit of money to spare!

When you have made your budget, don't just file it away and forget about it. Take a copy with you when you go away. Don't feel like you have to stick to it exactly; it's OK to be a bit flexible, as much of travelling is about spontaneity and just seeing where the road takes you. However, do keep an eye on your spending while you're travelling and if it's going over what you had planned, be prepared to miss out on something later on.