How to calculate the budget of a trip

If you have reached this post you are probably planning a trip and you are interested in calculating a detailed budget. Not only you want to estimate how much you will spend on what is essential in the trip, such as accommodation, food or transportation; but you are interested in knowing a real and approximate total budget. For this you must take into account the following issues:

Find out about the destination
As we have already mentioned in many posts, the most important thing before starting a trip is to find out more about the destination. In other occasions we have recommended you to inform before traveling to the country to browse about their customs and local legislation or to know the type of insurance that suits you. On this occasion it is good to look online and ask acquaintances who have been in the place you are going to visit to get an idea of how much you can spend. Compare prices and keep in mind all the tips that can be given, such as well located accommodations, bars at a good price or with which type of transport to move.

Be realistic with the budget
The second step is to be realistic with the budget. How much we can or want to spend? Based on this question we will condition our trip, since it will depend on whether or not to do some activities. For example, hire a trip to another city or a guided tour of the destination.

Calculate the number of people
How many people will you travel? The more you are on the trip the more budget you will need. It is also important to know how many of them are adults, since children and people over 65 sometimes enjoy discounts that can come in handy to save or to allocate that money to other whims.

Choose the means of transport
Transportation is a key issue when calculating a budget, because depending on the destination we choose we can choose one or several ways to reach the destination. For example, in Spain we can go by car, bus, train or plane, while if we travel to Germany it will be more usual to opt for the plane. Each means of transport will have prices that will condition our passport. In these cases the most appropriate is to assess our options and, within the possibilities, choose the one that interests us the most.

In order to calculate our budget we can consult the price that usually costs to travel to the place of destination to take it into account. If you do not want to pay more for the trip, you can check the price at different times to study how prices vary and assess when is the best time to buy or wait for an offer.

On the other hand, if you travel by car you can calculate the gas budget. On the internet there are many web pages that allow you to do it in a fairly approximate way, indicating the car model and the place of origin and destination.

The essentials
This section includes all essential expenses (apart from transport). This is: the food, the transportation by the destination, the accommodation and the activities you do. Once you have decided the accommodation you can estimate how many times you will need to take the metro or the bus to explore the city. If you plan to rent a car, you must include these expenses in this section.

Calculate how much money you want to spend on each meal. Here it is important that you have informed yourself and calculate an average. The price of eating in bars and restaurants changes a lot from one country to another, so you should not rule out the option of eating in street stalls. Also, you have to bear in mind that there are countries where you should leave a tip. All these issues are important to take into account.

Finally, you must decide what activities you would like to take on the trip and calculate how much it will cost you. Visiting a museum, taking a guided tour or moving to nearby places are just a few options. You may have to choose between several activities here, either because they raise the cost of the trip or because of the time, since we do not always have enough days to see everything we would like.

Extra expenses
Before and during the trip we are likely to have extra expenses. For example, if you are one of those people who like to buy souvenirs of the destination you should estimate an expense. For this you can think about how much you usually spend on other trips and apply it to this budget. Also, depending on the destination you choose, before the trip you may have to include the costs of applying for a visa, taking out insurance or obtaining an international driver’s license.

Keep in mind the unforeseen
Our last advice is that your budget shoots up, because it must include the endless number of unforeseen events that arise in travel, such as problems with transportation, currency exchanges, possible accidents and extras that we never consider.

As you can see, calculating a detailed budget allows you to know how much money you should allocate to your trip and how much you will need for each day.

Do not forget to assess the prices of transportation to the airport or parking. At We Park we offer you the best services at very competitive prices.

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