3 Tips For Budgeting Your Money When Traveling

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While traveling around the world can open you up to great experiences and help you create amazing memories that you’ll cherish for the rest of your life, it can also get to be pretty expensive if you allow it to be. Luckily, there are quite a few ways that you can reduce your travel costs without having to sacrifice your ability to travel to the destinations you want to see. The biggest way to do this is to create a budget for your trip. To help you in doing this, here are three tips for budgeting your money when traveling.

Pick The Best Destination For Your Budget

If money is particularly tight for your travel budget, you may want to pick your destination based on the amount of money you’re able to save before you plan to leave for your trip. According to Andrea Woroch, a contributor to U.S. News and World Report, there are quite a few countries around the world where the daily spend is very low, meaning that the money you’ve been able to save will go much further in these areas. Some of the areas of the world you might want to look into when you have only a small amount of money to spend on your travels include South and Central America and Southeast Asia.

Average Your Daily Spend

When planning how much money you should save up for your trip, it’s a good idea to know how much money you’ll likely be spending on a daily basis while at your destination. According to George Dunford, a contributor to Lonely Planet, you’ll want to average out how much you’ll be spending each day for your lodging, food, activities, transportation and more. Once you have these figures put together and have saved up the set amount of money, you should do your best to stick to these guidelines so as to stay within your budget when you’re traveling.

Be Strategic About Your Meals

If you’re not careful, you could very easily end up spending a lot more money on food than you may have initially intended. To help you stick to your budget and not run out of money at the end of your trip, Elizabeth Helen Spencer, a contributor to Money Under 30, recommends that you be strategic about your meals. If you’re traveling for an event or conference where food is provided, try to take advantage of this. Additionally, you could try to only eat two meals each day rather than three, which can help you save quite a bit of money as well.

If you need some help learning how to better budget for your upcoming travels, consider using the tips mentioned above to assist you in doing just that.

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