Budgeting for a foreign trip seems easy. You need to save money and divide it into 3 parts: food, transport, and accommodation. There are a lot of little incidentals that go into budgeting for your vacation and it can be incredibly overwhelming. Here is a guide about creating a budget for an abroad trip.
- When creating a budget, you need to know where your money is going. The transportation, accommodation, and food will be expensive. Try to figure out where is the rest of your money going? While creating your budget, you’re going to need to include items such as extra taxes, travel Insurance, activities, shopping, and gifts. All of these are mandatory.
- Compare various prices. In the beginning stages of budgeting, you’re going to have to guesstimate. The price of your flight is going to vary greatly 6 months away versus when you purchase it.
- You just need to get an idea as to what you’re going to spend. Transport, food and accommodation costs will give you a clue as to how much you’ll be spending and how much you will be saving.
- Start your budget with the biggest expenses first like flights and accommodation. Research the average costs of your destination which can be an invaluable reference point when estimating expenses.
- With a rough idea of the duration of your trip, you can work out a daily cost. Also, add the cost of activities, entry fees, and souvenirs. Pay attention to the cost of living/traveling through the countries.
- Allow for an occasional splurge. The worst budget is a chain at your leg pulling you away from the best travel experiences.
- Add in pre-trip costs including visas, travel insurance, and immunizations. Some travelers skimp on travel insurance, but if you can’t afford travel insurance, you can’t afford to travel. Try an insurance carrier that’s low cost or covers a little less. It will make you feel secured when something does go wrong.
- Gear is another sizable pre-departure purchase. A strong, comfortable backpack is worth shelling out for a good quality model. An equally important investment is a pair of decent shoes. Other gear to think about includes clothing, power adapters, and a Swiss army knife.
- Work out how much money you would need and get a figure you can save towards. If you find saving tough, try budgeting software which includes countdown functions for your savings and can suggest ways to cut your expenses. If you don’t hit your saving goal, then it might be time to go back and re-visit the budget. If you’re struggling to reach your financial goals, being flexible with your trip itinerary can help get you on that flight a lot faster.