Going on vacation is always an exciting experience. Whether you’re travelling alone or with friends and family, it’s important to plan your finances correctly.
One of the most common questions that people ask when planning their vacation is, “how much money should I take on vacation per day?” In this article, we will examine this question in detail and provide you with some tips on how to plan your expenses.
Factors That Affect Daily Expenses
The answer to this question depends on several factors, including your destination, the duration of your stay, and your travel style. Some destinations are more expensive than others, and the cost of living can vary greatly from country to country.
The duration of your stay is also an important factor because longer trips typically require more money. Additionally, your travel style can impact how much you spend each day. For example, backpackers tend to spend less money than luxury travelers.
Budgeting for Accommodation
One of the biggest expenses during any vacation is accommodation. You should research the cost of hotels or Airbnb rentals in advance and budget accordingly. If you’re travelling with friends or family, you might want to consider renting a larger apartment or house instead of separate hotel rooms.
Tips:
- Consider staying outside major tourist areas for cheaper rates
- Look for discounted rates on booking websites such as Expedia or Booking.com
- Consider hostels if you’re traveling solo or need a cheaper option
Budgeting for Food & Drink
Another significant expense during a vacation is food and drink. This cost can vary depending on where you are traveling but it’s important to budget for it in advance.
Tips:
- Research local restaurants before traveling to save money
- Consider cooking your meals if you’re staying in an apartment with a kitchen
- Look for happy hour deals on drinks or discounts on food during certain times of the day
Additional Expenses to Consider
While accommodation and food are the two most significant expenses during a vacation, there are other expenses to consider. These could include transportation, sightseeing, shopping, and other activities.
Tips:
- Research public transportation options before traveling to save money on taxis or rental cars
- Plan your sightseeing in advance and look for discounts on tickets or group tours
- Set aside some extra money for shopping or additional activities you might want to do while on vacation
The Bottom Line: How Much Money Should You Take on Vacation Per Day?
The amount of money you should take on vacation per day depends on several factors. However, as a general rule of thumb, budgeting $50-$100 per day for food, accommodation, and activities is a good starting point. If you’re traveling to an expensive destination or plan to do more luxurious activities such as spa treatments or fine dining, you may need to increase this budget.
Tips:
- Create a daily budget and stick to it throughout your trip.
- Keep track of your expenses using apps such as Mint or TravelSpend.
- If possible, bring along credit cards with no foreign transaction fees.
In Conclusion..
Planning a vacation can be stressful, but by budgeting correctly and using these tips above, you can ensure that you have an enjoyable experience without breaking the bank. Remember, the key is to plan ahead, be realistic about your expenses, and stick to your budget. Happy travels!