If you’re adventurous and wanting to see the world without having to go bankrupt, here’s a guide on how to do it!
Scroll to the bottom and download my travel budget template for free!
How to Budget for a Big Trip
Whether you’re looking at how to budget for an international trip or a destination wedding trip or just how to budget for a trip in general, how to curate a vacation expenses list, and how to make a travel budget spreadsheet, you’ve come to the right place!
How to Budget for a Trip: Start Planning Early
This is obvious, but two of the most important expenses you’ll incur during your trip is accommodations and your flights.
Let’s talk about accommodations
When I went on a solo trip to Paris a few years back, I stayed in a shared hostel room for $25/night and had a solo room to myself for $40/night. I found these deals off of Hostelworld.
Another great way to save money is to use Airbnb! Hotels are always nice though, and it’s great to book hotels early on in advance for the best deals.
Let’s talk about booking flights
When it comes to flights, I highly recommend using Wayaway. I ditched Skyscanner and Google Flights as soon as I learned about Wayaway.
WayAway is a travel platform that offers a multitude of destination options to travelers looking to travel wherever their heart desires. Whether you’re planning to soak up the sun in Costa Rica, explore Portugal, go dancing in Barcelona, or go island hopping in the Philippines, WayAway connects you to these exciting spots with cheap flights + cashback, hotel deals, apartment deals, and experiences. It’s quite literally a one stop shop.
Try it for yourself here!
How to Budget for a Vacation: Use Budgeting Tools
Use apps and spreadsheets to set a daily spending limit. Factor in accommodation, food, transportation, attractions, and a buffer for unexpected expenses.
You can become a walking vacation budget calculator once you have your spreadsheet memorized and finalized.
If you’re wondering how to make a travel budget spreadsheet, I recommend using Google Sheets, Excel, Airtable, and Notion.
As far as what to account for in the spreadsheet, here’s a vacation expenses list for your reference:
- Flights
- Ground transportation
- Travel insurance
- Hotels/Resorts/Airbnbs aka Accommodations
- Extra Charges (parking, resort fees, etc.)
- Dining Out
- Groceries
- Experiences (tour tickets, shows, concerts, etc.)
- Rentals
- Gifts
- Personal Shopping
- Phone Plan
- Tips & Gratuities
- Emergency Fund
FREE Download: My Travel Budget Spreadsheet
How to Budget for a Trip & Save on Accommodation
When booking your accommodations, I’ve found a few tips and tricks along the way:
If staying in a city, stay out of the “downtown” or “city center” area. Stay in a neighborhood outside the city. For instance, when we visited Oslo, we stayed at an Airbnb in a trendy neighborhood called Grünerløkka, which saved us a lot of money! We did the same in Stockholm, and stayed at a neighborhood called Nacka. This goes for all major cities.
Another tip is to stay outside of major tourist areas, as the prices here are always higher. You don’t want to stay in these areas anyway because of crowds. Unless that’s your thing.
If you’re open to it, consider Airbnb and VRBO, or a hostel, rather than a hotel! I liked staying at an Airbnb in between hotels so that we could do laundry! Fun little travel hack right there for ya.
Add This to your Travel Budget Template: Dining Out Expenses
Tourist traps, again, are definitely ones you should avoid. The restaurants tend to have way higher prices than they would at another area of the city. I always like to dine where the locals like to dine in, because not only is it cheaper, but you’ll also get to experience authentic cuisine.
I recommend Eatwith for amazing eating experiences! Their experiences don’t break the bank and offer cooking classes, dinners, food tours, and more. It’s a premier worldwide community for people who have a love for food and travel.
Opt for Public Transportation and Walking
I love traveling somewhere where you can use public transportation. Because I was born and raised in LA, where you absolutely need a car to get from one place to another, this is something I’ve always appreciated.
Utilizing public transportation over taxis or rental cars can save you so much, not to mention have you get to know your destination a whole lot better. Invest in day or multi-day passes for additional savings! Explore on foot as much as possible. It’s free and offers the chance for unexpected discoveries.
Look for Free and Discounted Attractions
Research free attractions and plan visits around them. Many museums have free entry days, and cities often have free walking tours.
Also consider city tourist cards that offer free or discounted entry to major sights plus public transport.
Travel Insurance is Imperative
Don’t skimp out on travel insurance! It seems like an extra expense until you need it. Medical bills or unexpected trip cancellations can cost far more than the price of insurance. Some credit cards already have travel insurance built in, but it’s better to be safe and try to protect yourself in case of any possible mishaps.
Be Currency Wise
Understand the exchange rate and check if your bank has high fees for withdrawals abroad. It might be worth getting a travel card or account that minimizes foreign transaction fees.
Avoid airport currency exchanges where rates are less favorable. Use ATMs or exchange services in the city.
However today in this day and age, more and more countries are becoming more cashless, so sometimes this isn’t too imperative. Research your destination before you go and see if it’s more card-friendly! Not once did we use cash in all of those 6 weeks.
Shop Smart
If you want to buy some souvenirs for yourself or your loved ones, avoid buying them in high-tourist areas. Markets a little off the beaten path usually offer better deals. Also, refrain from buying souvenirs at the airport.
However, take full advantage of duty-free shopping when it’s actually a saving.
Keep your receipts before you leave any European country so you can get your cash back.
Book on Off-Peak Times
One thing about me is that I do not like traveling during peak times. It’s so stressful, so annoying, and very tiring. I loved traveling through Paris and Venice during the dead of winter, and I loved traveling through Scandinavia during the summer (where most people are in Italy or Spain).
Traveling during the shoulder season (between peak and off-peak seasons) can offer the best of both worlds – fewer crowds and lower prices on flights and accommodations.
And that is how you budget for a trip you have coming up!
I hope these tips and tricks helped you. You can always reach out to me in case you have more questions on how to budget or if you have questions on how to use my travel budget planner!
