Planning how much money to spend each day while traveling can seem tricky. Don’t worry! I have a simple way to help you figure it out. Here’s how I do it. Hopefully, it will help you too!
First, you need to know how much money you have for the whole trip. Let’s say you saved $1,500 for a week-long vacation. Knowing this is a great start!
Next, check how many days your trip will be. For example, if you are going for 7 days, you can use your total budget to find out how much you can spend each day. Here’s the math:
Using our example:
So, you can spend about $214.29 each day.
Keep in mind that some expenses are set, meaning you can’t change them. This includes things like your hotel, transportation (like flights and rental cars), and any activities you've already booked.
If your hotel costs $700 for the week, you’ll need to take that out of your total budget first. Here’s how it looks:
Now, if you still want to travel for 7 days, your new daily spending limit would be:
Remember that the place you’re visiting matters a lot! Some cities, like New York and Paris, can be more expensive than places like Bangkok or Lisbon. Think about your travel style: Do you like to eat at fancy restaurants, or do you prefer street food? Change your budget to fit your style. Maybe you'll spend 100 in a more costly city.
Finally, it’s a good idea to save a little bit of money for surprises or fun experiences that might come up. A common tip is to keep about 10-15% of your budget as extra cash.
By breaking it down into these steps, figuring out your daily spending limit becomes much easier and even a fun part of planning. Happy travels!
Planning how much money to spend each day while traveling can seem tricky. Don’t worry! I have a simple way to help you figure it out. Here’s how I do it. Hopefully, it will help you too!
First, you need to know how much money you have for the whole trip. Let’s say you saved $1,500 for a week-long vacation. Knowing this is a great start!
Next, check how many days your trip will be. For example, if you are going for 7 days, you can use your total budget to find out how much you can spend each day. Here’s the math:
Using our example:
So, you can spend about $214.29 each day.
Keep in mind that some expenses are set, meaning you can’t change them. This includes things like your hotel, transportation (like flights and rental cars), and any activities you've already booked.
If your hotel costs $700 for the week, you’ll need to take that out of your total budget first. Here’s how it looks:
Now, if you still want to travel for 7 days, your new daily spending limit would be:
Remember that the place you’re visiting matters a lot! Some cities, like New York and Paris, can be more expensive than places like Bangkok or Lisbon. Think about your travel style: Do you like to eat at fancy restaurants, or do you prefer street food? Change your budget to fit your style. Maybe you'll spend 100 in a more costly city.
Finally, it’s a good idea to save a little bit of money for surprises or fun experiences that might come up. A common tip is to keep about 10-15% of your budget as extra cash.
By breaking it down into these steps, figuring out your daily spending limit becomes much easier and even a fun part of planning. Happy travels!