You don’t need a lot of money to travel but it can be hard to stick to a budget. That is why we are sharing how to budget travel SUCCESSFULLY!
If you’re smart and thrifty, you can often manage to travel wherever you want to go without breaking the bank. So how can you do it? Check out these suggestions for traveling on a budget.
1. Create a plan
In order to be as cost-efficient as possible when traveling, you need to first come up with a plan. A plan will help to organize your trip and ensure that you know where you’re going and when, while at the same time minimizing the chances of unexpected costs popping up.
If you’re trying to travel for less, it’s best if you plan far in advance of your trip. Are you traveling somewhere where you’ll need to book a flight or a hotel room? Schedule your transportation and accommodations months prior to the actual trip, if possible.
It’s much more expensive to purchase plane tickets last minute than it is to do it in advance. And if you’ve been eyeing a little boutique hotel that’s within your price range, book it as soon as you can so that it doesn’t sell out or raise rates.
You should also have a general idea of your itinerary for the trip, which means you should know how much time you’ll be spending in a given place and what kinds of activities you’ll be doing while you’re there. Nobody wants to plan out every second of their trip—after all, who doesn’t love surprises and spontaneity from time to time? But just keep in mind that the more structure you provide yourself beforehand, the better an idea you’ll have about where your money is going, meaning you’ll likely save more throughout the course of your travels.
2. Limit food and drink spending
Going to restaurants and getting a taste of the local cuisine is one of the most important parts of any trip. So go ahead and splurge at restaurants, cafes, and bars in order to get the most out of your experience.
However, you don’t need to be going out every single night. Instead, shop at local markets and grocery stores for ingredients that allow you to make your own cost-effective meals. While a lot of hotel rooms only have a microwave, many hostels have the advantage of offering a communal kitchen where you can prepare meals for yourself.
Another thing that can end up costing a significant amount of money throughout your trip is alcohol. Yes, it can be fun to go out to the bars and nightclubs to have a good time and socialize with the local residents. Just be careful not to go overboard. Too much drinking can hurt both your energy levels and your wallet.
Find other ways to relax and spend your nights. For example, some nights you might relax in your room by watching a movie and puffing on safe, natural CBD vape pens rather than hitting the bars.
Stick to a budget
Creating a budget for yourself allows you to know how every one of your dollars is being spent. This is invaluable information for the traveler on a budget. When you know where your money is going, you can make every dollar count and effectively cut down on wasteful spending.
While it’s true that planning out a budget will take some time and effort up front, the financial security it brings will likely be worth it. Start off by making a budget for the whole trip. Add up all of your projected expenses, including the costs for plane tickets, accommodations, transportation, food, tours, souvenirs, and so on. Be as detailed as you possibly can in your accounting in order to arrive at the most accurate total cost. Using a handy budgeting app can also help you manage your finances.
After you’ve come up with the total cost of the trip, try to sort out a daily budget for yourself. Having a daily budget will enable you to more tightly control your spending on a day-to-day basis and make your money last.
Pro tip: Lean more on the liberal side when planning out a budget—that is, assume everything will be on the more expensive side. It’s a lot better to come in under budget than it is to find yourself over budget while abroad, as this can land you in a really stressful financial situation on what’s supposed to be a fun, relaxing trip.
Traveling with a small budget can still be really fun and exciting if you just use these tips. It may not be the luxurious vacation you read about in glossy magazines, but it will likely be just as rewarding in its own way.