Oct 23 2008
Calculate your Travel Budget
To begin with, we can mention the essential consumer goods that are the object of expenses related to travel. This is the typical expenditure usually expected during stays out in Europe or other destinations, especially in the West. Therefore, you have to calculate your travel budget according to life standards of the country you are visiting.
In general, people spend a lot of money on accommodation; it is about 32% of the total budget. The low-budget travelers should consider youth hostels with bedrooms for more affordable prices. Actually, in these hostels, there are family rooms, but they are a little more expensive. If your budget is low, in order to save money, you can choose small hotels of one or two stars. There are small inns that can provide breakfast, social life, and accommodation regardless the budget.
For transport, you should consider about 28% of the total cost, which is the second largest expenditure. You should get enough information, in order to compare all the alternatives available to your budget. You can opt for train or bus weekly discount tickets. Then there are low cost flights, and some ferries as well. In urban centers, do not forget public transport, often less expensive than taxis. However, prefer walking whenever possible. It is beneficial for your budget and your health as well.
In order to be prepared on this topic, you can search the web for information or call travel agencies that can offer you useful advice that can help you manage your budget.
Food is the third major expenditure with 16% of the total budget. This percentage applies if the passenger wants to eat economically, i.e. minimizing meals in restaurants (in the West).
Use a maximum of kitchens in the hostels (when available); go for picnics with products from local markets or grocery stores. Generally, prices in grocery stores are similar to commodities. However, some local products are less expensive on the spot, such as cheese or wine in France, as a matter of import. Do not go to restaurants that are in tourist areas, because prices are high there. Remember that lunch menus are cheaper and if possible, ask people there to advise you.
Do not attempt to save by not eating much, it is important to eat well because the pace of travel may require more energy than home or work. Do not forget hydration!
We must not forget that there may be a multitude of daily expenses, which can represent about 24% of the budget.
For sightseeing or other paid activities, it is possible to have an idea of the cost by consulting travel guides. Add to that a series of small expenditures (bottled water, telephone, internet, postcards, etc.) We must not forget the pay toilets, and outings in bars and other social activities.
If you have a total amount for travel, estimate that amount for spending per day. You will see if it is feasible. If you are able, keep a list of expenses throughout the trip, especially if you have a very small budget. Therefore, you know where you are at your expenses and know if you can afford a meal at the restaurant, a trip, etc.