There are two simple approaches to preparing your solo travel budget: how much money you have and when, where, and how you want to travel
If you are committed to a destination you will want to use the tips below to determine the costs of your trip. Should expenses exceed your budget you may want to consider shifting dates to an off-peak season. If that does not work, you may have to wait to travel to allow more time for saving.
HOW TO PLAN OUT YOUR BUDGET
- Travel and Accommodations: Flights and accommodations will typically be your two biggest expenses.
- Transportation includes the cost of flights, trains, cruises, car rentals, etc. Also, make sure to to check on any baggage costs and if meals are included on the flight, etc.
- Accommodation includes hotels, hostels, vacation home rentals, etc. You will want to take your nightly rate and multiply it by the number of nights you are staying to get your total rate. Do not forget some hotels charge resort fees for use of their amenities and may not factor tax into the night rate.
- Food and Beverage: This expense can vary tremendously. Confirm if any meals are included with your accommodations, tours, etc. Pro tip: try and go light for breakfast and lunch by taking advantage of hotel breakfasts. You can also utilize your in-room fridge to store snacks and lunch items, and then venture out for dinners.
- Entertainment and Excursions: Unless included in your organized tour, you will most likely want to explore museums, local tourist attractions, take in a show, etc. All of these activities will have additional costs. Try to plan ahead and purchase in advance where you can.
- Travel Insurance: An added expense that will protect you and save you a ton of money should anything happen that during your trip. This should be a must-have.
- Souvenirs: Gifts to bring back home for yourself or loved ones. If you are into souvenirs, make sure to budget for them.
- Safety Stash: The last thing you should stress about while on your vacation is money. Plan your budget but also, have a safety stash just in case you go a bit over.