Travel Budget Template: Your Key to Smart Trip Planning

It’s no secret that taking a family vacation can be a stretch on the wallet.  The last thing we want is for our fun to be overshadowed by un-planned-for traveling expenses.

So let’s plan ahead!

With a bit of foresight and some savvy tips, you can jet off on your dream vacation without emptying your wallet.

As we begin our travel budget planning, we will first discover the categories to include on your travel budget template!

Vacation Expenses

Most of your travel expenses will fall into the following categories:

• Pre-travel expenses – There are a variety of expenses before you ever leave for your trip. These costs could include passports, visas, and travel insurance. Also consider what travel gear and accessories you may need.
• Transportation – How will you get to and from you destination and what transportation will you need once you get there? Transportation expenses could include airfare, gas, car rentals, ferries, taxis and public transportation.
• Accommodations– There are many lodging options at various price points including hotels, Airbnbs, hostels, and campsites. Your accommodations can greatly affect both your vacation budget as well as your overall experience.
• Food– Consider if you will be eating out or will pick up groceries to make meals yourself. Add in enough margin for coffee, snacks, and street vendors as well. Don’t forget to budget for food on traveling days to and from your destination!
• Activities– Your activity options will be based on the location you choose. This category can include things like excursions, tickets, entrance fees, rentals and spa treatments. We recommend that you book these in advance when possible. This ensures they don’t sell out, and also enables you to know the exact cost of each item.
• Shopping– This is typically an optional category. Some people love to shop local for souvenirs and others would rather put that money toward memory-making experiences. If you are unsure, go ahead and put some money in this section of your budget so that if you find something you love, it will already be covered.
• Unexpected expenses– Don’t spread your finances too thin, and make sure there is extra margin for the inenvitable unexpenced or emergency expenses.

Total up the cost for each of these categories, and you will have your total trip expense. It’s as easy as that!

Printable Travel Budget Template

We have created a free, printable travel budget template PDF to make budgeting for your next vacation a breeze! Simply enter your email address below to download the PDF. 

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Why You Should Use a Travel Budget

Using a travel budget to help you save can give you the peace of mind that your vacation expenses are already covered. We recommend creating your vacation budget several months before the planned trip so that you know your savings goal. Once you know your savings goal, we suggest using a sinking fund to fully fund your vacation in advance. 

A sinking fund is a strategy to stash cash each month until the savings goal is reached. For example, let’s say you use your travel budget template to plan and know your trip will cost $2400. If you want to reach that goal in 6 months, you take $2400 divided by 6 and learn that you will need to set aside $400 every month into your sinking fund.

How to Make Your Vacation Budget Stretch

If sticking to a particular budget is important to you, there are many ways to make your vacation budget stretch. Below we have listed a few of our favorite solutions to make our travel budget go further.

1. Travel in the off-season. Find out when the highest travel times are for your specific destination, and consider booking your trip before or after this window of time.
2. Choose a hotel or Airbnb outside of town. It’s pretty incredible what you can save by just renting a few miles away from the most popular areas.
3. Drive instead of fly. You will want to compare the cost for yourself, but it is almost always more cost-effective to drive rather than fly to your destination. This will also allow you to have your car during your stay, so you won’t have to rent a car or pay for public transportation.
4. Be flexible with your travel dates. When booking your flight, lodging, and even activities, check the prices for a variety of dates. Most airlines, hotels, and Airbnbs use a dynamic pricing software, which changes the prices daily depending on demand. Therefore, if you look around at various dates,  you may find less costly options.
5. Make your own meals. Take groceries or find a local grocery store to stock up on ingredients to make your own meals. We recommend planning out easy meals ahead of time so that you are not spending too much of your vacation time with meal prep.
6. Find free local activities. Most locations offer a good variety of free activities. Often times the no-cost options make the best memories!

Free Things to Do When Traveling

Look up your specific destination to see what free activities are available. The list below includes activities that are often free in most locations.

• Public parks
• Hiking
• Art festivals
• Window shopping
• Public beaches
• Free museum days
• Outdoor entertainment (check the local calendar)
• Picnics

What if I Can’t Afford to Take a Vacation?

There is always a less expensive way to make memories if a big trip isn’t financially feasible this year. Check out day or weekend trips within driving distance of your home.  Family trips are what you make them and quality time with your loved ones is what is important! 

Travel Budget Planning Summary

So, there you have it! Planning your travel budget doesn’t have to be daunting. Remember, it’s all about finding that sweet spot between saving money and enjoying every moment of your adventure. We hope this travel budget planning guide has helped you feel financially prepared for your next vacation!

For the next steps in trip planning, check out our complete step-by-step guide to how to plan a vacation.

 Bon Voyage!

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