Mohammad Shakil

· 24 Nov 2021

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Money for Traveling | How to Calculate a Budget |

Travel expenses, even if they are not the most important part of the trip, failing to plan them properly can leave us with some unpleasant surprises, such as running out of money or spending more money than we were able to predict. Let's take a look at how a budget can be made so that we know how much it costs to travel.

The first thing you need to consider is spending big money like flights and hotels. And there is something I want to say especially when I talk about hotels. Look, if you go to a hostel, don't worry, the cost of your stay will probably be those shown on the paper. But if you go to a better hotel, you will probably be able to use some of the services they offer, or there will be an extra obligatory payment. Is it okay? Not maybe, but here I am not trying to complain, but just try to let you know how you can plan your travel expenses if the real facts are given.

In any case, once you add up all of this, there is something else you should do that most people do wrong. Most people like to include food between travel expenses. While it is a good idea to include you in the amount of money you need to prepare for the trip, it is not good to think that food costs extra to take your vacation. You will be eating at home if you are not on your vacation, and in case your country is cheaper, you will be saving money by eating there. To calculate travel expenses for food, the best thing to do is to look at foreign websites.

Another cost to consider is that of work. Museums, nature works, guided tours, etc. Anything you will be doing when it costs. Write down the total amount in your travel budget, but when planning your travel expenses, consider what extra expenses you would not incur by being absent. Going to the cinema, disco, bowling alley ... Anything you usually do during the time you give us your vacation.

Lastly, there is one last thing you should keep in mind when planning your travel expenses. And this one will not add to your travel expenses, of course. When you are not there you will not be wasting energy at home, not calling, not wasting water, etc. All of these costs can be deducted if you plan to save on vacation.

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How To Save Money For Travel

Let's face it - who does not want to travel at least once a year? Learn new cultures, discover beautiful places and meet new people. As it sounds fun, your finance department may not be able to support your wanderlust. It is easier for you to travel if you have a good job and are able to spend money on luxurious things like travel. However, what if you are a student? Or someone having trouble managing your expenses?

Here are some simple tips on how to save money for travel :

1. Make a list of your monthly expenses

Once you know exactly how much you are spending on your fixed expenses each month, it is easy to find out how much you can set aside regularly.

2. Real value

Set the amount you want to save regularly and stick to it. Do not overreact to the fact that you will not know when you suddenly receive unexpected expenses. Just set aside the actual amount for you. If you can get your savings account linked to your bank account that would be great. Just set up a few savings accounts directly for each purpose; for example say it like walking, car, house or emergency. Set a fixed date every month where the money from your bank account will be automatically transferred to your savings account. If it is not possible for you to set up several savings accounts, have only one account where you can set a limit on how much you can withdraw. However, DO NOT use the money from your savings account unless it is EMERGENCY.

3. Limit going out or eating out

When you think about it, going out or eating out is very expensive especially if you do it once a week. You can easily spend about $ 50 on food or drinks every week, it may seem like a good idea to some people but why not spend that $ 50 on your flight ticket to the Philippines or Greece for example.

4. Additional income from elsewhere

If you can get a chance to earn extra money by accommodating your neighbor’s kids, just do it! Even if the income is low, at least you will still have more money. So, why not?

5. Use a savings pot

If you have extra coins or money, just put it in your pig bank. Make sure you buy it, where you will not be able to withdraw money easily. If you are creative, you can even make your own storage jar which may look very attractive and encourage you to invest in it. There are many DIY videos on YouTube on how to make them. You will be amazed at how much money you can save per year, not much, but hey an important effort.

Related Post: Save Money For The Future

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