Let your travels surprise you, not your budget. Do you recognize the feeling after checking your bank account: “How much did I spend in the past week!?”. Here’s how you manage travel costs.
So how do you keep track of your costs during your travels? Here is a simple trick that can help you to manage travel costs during your travels and be more aware of your expenses.
Manage travel costs in only 4 steps
- Set the amount that you want to have left on your bank account after your travels.
- Check your balance on your bank account. Your balance minus the amount that you want to have left after your travels is your remaining budget.
- What is the remaining number of days you want to spend?
- Your remaining budget divided by remaining number of days is…
Now you know your average daily budget you can try not to spend more than that.
Be aware of your expenses every day and try not to spend more than your average daily budget.
Repeat step 2 to 4 every once in a while. Start doing this every week so you have a feeling of how your average daily budget changes over time. When you’re spending more than your calculated average daily budget, this daily budget will get lower.
This means you have less money you can spend for the future days. But when you’re spending less than your calculated average daily budget, this daily budget will get higher.
This means you have more money to spend for future days — that’s great!
Interested in how to prepare a budget? Read our post Preparing A Budget For Your Travels.
Good luck on managing travel costs but don’t spend too much time on this subject and most of all, enjoy your travels.