July 1, 2009
Creating a Travel Budget
If you are planning on traveling this year, one of the most important factors to consider is your budget. Many people have an idea of what they want to spend, but usually find after the trip that they have spent 20 to 50% more sometimes causing a financial crisis or racking up more debt onto their credit card. If you are planning on traveling this year, put some thought and effort on planning your trip very well so you can create a travel budget.
One rule of thumb is to always add 20% onto your travel budget, this way you are pretty safe as to how much you will have spent when your trip is over. One of the keys to creating a travel budget is planning your trip. If you don't like to plan your trip out or can't determine where you will be for the entire length of your vacation, try to set a per day budget. For instance, you can decide not to spend more than $200 per night for accommodation or no more than $50 per day for food. While everyone's budget will be different, this is an ideal way to plan for vacations that are freestyle.
Many travel guides also give you tips on budgeting your travel. They can give you lots of information on how much food, lodging and other services cost in different countries. Usually large cities are more expensive than smaller towns and rural areas and travel to major centers is usually cheaper than to outlying areas. So, if you are interested in traveling this year, make sure you create a travel budget.
Recommended Reading
- Using a vacation club to keep your travel budget under control
- Keeping your food travel budget low
- Vacationing in Mexico While on a Budget
- Budget adventure travel
- Budget travel in an RV
