Travel Tips & Tricks TravelSIM

How to make a travel budget (and stick to it)

Although spending a weekend at the beach is less expensive than travelling around the world, planning and preparation are needed before embarking on any trip. Giving yourself the proper amount of time to save money, book accommodations, and plan day-to-day activities are the first steps in preparing for an excursion.

Create savings dedicated to travel

Whether you keep the money in the bank or under your bed is up to you, but creating a savings fund that is dedicated to your trip is crucial in executing a budget.

First, talk to other people who have visited where you plan on going. Also, look up rates for lodging, transportation and entertainment so you have an idea of what things cost. Don’t forget to consider the exchange rate.

Once you have a budget in mind and a goal date for completion, you are on your way to embarking on a well planned trip.

Separate funds based on category

Food – Eating out for every meal can be expensive, so if you plan on doing so, budget accordingly. If your accommodations and location allow for preparation of meals, consider purchasing food to cook at home, which may be cheaper.

Lodging – This includes hostels, hotels, resorts or anywhere else you might consider staying. Decide whether your lodging budget is per day or for the entire trip.

Transportation – research how you plan on getting around. Will you be flying, taking a train, bus or renting a car? Look into the cost and convenience of each as well as the price differences.

Entertainment – Will you be visiting museums or hiking in the wilderness? Different locations offer different forms of entertainment, some of which are free, but many of which are expensive. Look for coupons in travel guides to receive discounted admission to popular destinations. Also, many museums and historical sites offer free or discounted rates on certain dates and times.

Incidentals – You never know when you need to make a long distance phone call or purchase bug spray. Keep a separate allowance for emergencies and other incidentals that may arise suddenly.

Souvenirs – Although you can share memories of a trip with pictures and stories, many travellers are compelled to bring back souvenirs – either for themselves or loved ones. Consider who will receive gifts and set aside a specific amount.

Mobile Phones and Tech – For modern travellers, a mobile phone is nearly as important as a passport. Thankfully, with a little planning ahead, you can find affordable options for making calls and using data while abroad. TravelSIM have a prepaid option that works in over 190 countries overing voice, text and data.

Prepare for exchange rates

When travelling internationally, prepare for currency conversion. Once you prepare your budget, convert into the local currency to see how far it will get you.

Utilize budget planning sites

Many websites and apps, such as Budget Your Trip and Saving For Travel, give users tools that help financially plan trips. Once you create an account and enter trip details, the site will help you determine how much you need to save.

How to budget

Consider travelling off-season, or visit areas where friends live, to save money on transportation and lodging.

Proper planning and preparation are the keys to staying within a travel budget. By setting aside funds for specific purposes, travellers can anticipate emergencies and other incidentals.

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