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Part II: How Do You Create a Budget

in Travel Tips
picture Budget 2020

Now that I hopefully convinced you as to why you need to create a budget, what is the easiest, efficient, and effective way to do so.

I like to use a plan spreadsheet to create my budget. You can use something like Microsoft Excel or Google Sheets or our budgeting tool:

Always A Honeymoon Travel Budget

My budget has 10 categories. You may wish to add more or reduce some based on the type of trip you are taking. 

Here is a description of those categories.

Airline TIcket

Transportation to Destination – If you are taking a train or plane, these will probably be the largest percentage of your costs. If you can be flexible with your dates, We have made the mistake of booking a hotel and making plans then selecting the flight, This has caused us spend a lot more money than we wanted on airfare.

Hotel Room of San Francisco Pulse

Hotel (including taxes) – When getting hotel rates, always factor in taxes and in some cases resort fees.

Empty glasses set in restaurant

Dining – Includes meal, drink, and tip (I usually tip 20%) – This may big your most uncontrolled cost. It’s hard to know how much money you will spend on your appetizer, entree, drinks and DESSERT!!! Don’t forget to factor in tips.

woman shopping in outdoor market
Shopping – Are you the type that likes to bring a souvenir home from your trips? You should factor that into your budget. One quick tip.  Don’t buy your souveniers from the touristy locations. Go a few blocks off and buy something locally made. It is usually less expensive and you are giving back to the community.
Taxes and fees can hurt you. Know the sales taxes where you go. For example, my trip to Newport Beach California has a sales tax of 7.75%. 
Shopping basket with grocery products
Grocery – If you are staying in a location that has a kitchen, purchase groceries to save money. Make breakfast and lunch in your room/suite and splurge a little on dinner. Also, save on trips to the vending machine by purchasing snacks and drinks at the store.
 
Are you a snacker, if so bring your snacks from home. Vending machines are expensive. Plus you will have better healthier options when you can pick what you bring items from your pantry.
Baggage Claim and Ground Transportation Sign
Ground transporation (Rental Car, Taxi, Uber) – If you decide to rent a car, find out if parking is free at the hotel. As stated in budgeting for hotel rooms, include the tax for a rental car as well as the extra insurance. Check with the insurance company and your credit card provider to determine how much coverage you should purchase from the rental car agency. You can also go to the Uber price estimator.  or on the uber app. 
Football Game
Entertainment – Entertainment can include tours, sporting events, excursions, etc. Do some research ahead of time to not only see how much it costs but if there are any restrictions and availability.
Emergency Sign

In Case Of An Emergency –

Travel Insurance – Is it worth it? Possibly. But also check your credit card provider to see what they cover.
 
Emergency funds – Just like for home, you should have a little bit of cash in the case of an emergency.
Woman Taking Cash Out of Wallet
 
Cash  – There are still some places that don’t accept credit cards and may not accept Venmo or Cash App (I know….shocking!) Determine how much cash a day you will need. ATM fees can hurt so make sure you take some cash before you leave or if you have a pretty large bank, check to see if there is one in the area. 

YOU ARE OFF TO A GREAT START!

You know why having a budget is important.

You know how to create one.

Let’s be positive. Once you create it, you will stick to it!  However, you may be able to use some extra tips which we will show you in part 3 of this series.

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