Ways To Stay On Your Travel Budget

November 14, 2023

So, your flights and accommodation are booked, your bags are packed and you're headed to the airport for your dream vacation! While most of the planning and expenses have been taken care of, it's important to remember that you'll still be spending some money once you're at your destination for food, beverages, local transportation, activities, and maybe even some souvenirs. While you want to make the most of your holiday, you also want to enjoy it knowing that you aren't going to rack up endless expenses along the way. Here are some effective tips to help you stay on your travel budget.

Setting your daily limit

During the days leading up to your trip, it's crucial that you assess your financial situation and determine how much money you can reasonably afford to spend while on vacation. Once you've reached a total amount, you can calculate how much money can be spent on a daily basis. Download a budget app such as XpenseTracker to keep track of your spending and ensure that you don't lose sight of how much money you've spent.

Keeping it local

One of the beauties of traveling to new places is that you get to immerse yourself in the local culture and cuisine — a worthwhile experience that you wouldn't get back home. As it turns out though, the benefits of eating at those hole-in-the-wall places or buying jewelry from the local marketplace go beyond novelty, chances are, you also spend less money than if you went to the typical big franchises that you see back home. In many places, you may even be able to haggle your way to a major discount!

Select your splurges

Setting a travel budget does not mean being tight-fisted — it simply means spending your money on the things that are truly valuable to you. If you're looking to go scuba diving, then make sure to put your money towards that as opposed to spending it on unnecessary purchases or activities that don't really excite you. That being said, don't give in to peer pressure: just because the rest of your travel group wants to participate in a certain activity does not mean that you have to join them.

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Do some window shopping

Remember that no matter where you are and what you want to buy, chances are that there are several stores offering the same thing or something equivalent. Before buying from the first store you see, look around and see if you can get a better deal from elsewhere. This principle also applies to booking accommodation and flights.

Perfect your cooking skills

Sure, eating local food is a crucial part of any trip. But for those in-between meals where you're just kicking back and unwinding in your hotel room, perhaps it would be a better idea to simply prepare a basic meal rather than ordering something expensive from room service. Another idea could be to look for accommodation where breakfast or lunch is included or can be added on as an optional extra. You could also shop at a local grocery store and pack a nice picnic basket to eat in the park.

Take it slow

While booking a shorter, action-packed trip may sound ideal, it could end up causing you to spend more money in less time. Many hotels and hostels offer long-term discounts, not to mention that transportation will be cheaper if you stay in one place rather than traveling around. Take this into consideration when budgeting and building out an itinerary for your next trip.