Budgeting while travelling can be extremely difficult. Here are a few tips to help you enjoy the most of your next vacation while staying on budget.
Set a daily limit and stick by it!
It’s important to set daily spending limits and stick to those limits throughout the entire trip. You definitely do not want to go home with your bank account in the negatives!
For example, when I travelled to Europe for three months I was able to live on a $50 a day budget. I found that I was still able to live comfortably and afford most of the fun tourist attractions that were on my to-do list. You simply need to lower your accommodation costs by staying in hostels and be more conscious of your spending. Overall, it is definitely doable for a solo traveller!
Here is an example of what your daily spending could look like:
| Budgeted Items | Estimated Cost |
| Food | $15-$20 |
| Accommodations | $15-$20 |
| Activity | $10-$15 |
| Souvenirs | $0-$5 |
Shop at cheaper grocery stores or farmers markets.
Try to find discount grocery stores and shop at them while abroad. This is a great way to get fresh food without having to go to a restaurant and spend a fortune.
Luckily, tourists and locals can get some decent deals at farmer’s markets. But, please don’t be afraid to ask for a discount or do some bargaining while there.
Don’t eat out every day.
One of my main tips is to try to not eat out every day!
Ask yourself this important question: Should I spend hundreds of dollars eating out or should I spend my money doing fun tourist activities making amazing memories?
If you do end up eating at a restaurant, I would recommend travelling outside of the city centre to eat with the locals. When possible, stay away from high tourist areas as tourist areas are always marked up in price (sometimes doubled/tripled).
Figure out which activities are a must-see!
Try to pick a few activities that matter the most to you rather than spending money aimlessly on tourist attractions that you don’t necessarily care about.
Planning out your trip in advance is a great way to save on costs and be aware of future activities that might need extra funds. For example, if you know one day you will spend 60 dollars, the day before or after, try to spend only $40 so you can stay on your $50 a day budget.
Find out local discounts for museums, events and other activities.
Cities always have local discounts or deals for tourists! This is a great way to see more for less. A great tip is to check out the brochure stands at your hotel or hostel to find these discounts.
Also, be aware of potential free events or festivals occurring throughout the month. This will give you a chance to meet locals and other international tourists.
Check to see if there are free events, passes, or hours throughout the city.
Check to see if there are free day passes or free hours for museums or other events throughout the city.
For example, in Ottawa, Canada, the National Art Gallery is free every Thursday evening from 5-8 pm.
Student discounts. Remember to always ask!
Don’t be afraid to ask if there are student or youth discounts! Saving a few dollars here or there can really add up by the end of the trip.
When I was in Paris, I was able to save 100’s of dollars thanks to my student ID card and being under 26 years old.
Keep track of your bank account. Download your mobile banking app.
Download your mobile banking app and keep track of your account(s). I recommend checking your bank account at least twice a week This is also a safety precaution! You need to be aware of your account activity and make sure no one has hacked your account or stolen money from you.
Take out a certain amount of money each week to save on service charges.
Try to avoid service charges by taking out money once a week. If you’re using a prepaid credit card, you can usually take out money once or twice for free per month. After that, you will be charged a fee to take out your money (Often ranging from 2-5 dollars).
Set aside 20 dollars a week for gifts or souvenirs.
Stop yourself from spending too much money on random knickknacks every day. Try to not spend too much money on souvenirs or gifts by budgeting roughly $20 a week for these expenses.
It always feels amazing to get gifts and souvenirs from your trip, but remember that the true souvenir is the memories you made while there.
Buy a postcard in every city as your souvenir.
If you really feel adamant about getting souvenirs, a cheap and simplistic souvenir is a postcard. You can easily grab a postcard from each and every city you have visited for only a few dollars/euros. They’re a great way to remember your travels, while easy to store once home.
Look for travel deals.
When booking, look for travel deals for flights, trains, hostels, buses, and/or hotels. when you lower the cost of accommodations or transportation you’re leaving yourself with more money to have fun in the city or town you are visiting.
Potential Discount Sites:
Split the costs with a friend or travel buddy.
If you’re travelling with a friend you can split the costs or take turns purchasing items. It is a great way to maintain your daily budget and create amazing experiences while with a travel buddy.
I hope these travel budgeting tips help you on your next vacation!
Safe travels,
Carina
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Thanks for the great budgeting tips.