It’s time to establish next year’s travel plans. Where should we go? What should our experiences include? What’s our travel budget? And, equally important, just how much will our budget buy at our chosen vacation destination?
Consider a favorite drink. Perhaps it’s a can of Diet Coke. Do you know how much that can will cost if you purchase one while strolling down the streets of Paris? If not, you might be in for quite the sticker shock! And not knowing could end with a much bigger bite out of your travel budget than expected.
How Much Does That Diet Coke Cost??
Establishing a reasonable travel budget is paramount to a successful vacation. Equally important, especially when international travel is involved, is understanding how much your money will buy. Knowing the estimated costs of typical vacation expenses at your vacation destination compared to where you live, will help you keep that wallet from running on empty long before the vacation is over.
Ask yourself: How much will it cost to feed everyone, buy a gallon (or liter) of gas, or partake in a coveted activity? Is it more than you would pay at home? Not knowing that an equivalent $10 meal at home might be as much as $15, or maybe even $20, while on vacation, can put quite a damper on your available travel finances.
Conversely, finding out that your home currency will afford you two meals for the price of one, can open up your wallet and add even more fun adventures to that vacation.
That $1 Will Buy Me What?
So before you finalize travel plans for that awesome beach-side villa, take a few moments to understand the relationship of your home currency with that of where you are traveling to. Is it more expensive there? Or less expensive? Then budget accordingly.
Not sure where to begin? Check out this awesome infographic depicting what you can buy for $1 on a variety of products all over the world. Use it as a gauge to see if your next travel destination is incredibly expensive – or not – compared to where you live. Determine just how much that $1 will buy. Or not buy!
What’s Left In Your Wallet?
Establishing a realistic travel budget is integral to successful vacation planning. So is having a tangible understanding of how big a bite that next meal might just take out of your wallet.
But where to start? Here are several typical at-destination travel expenses you might want to estimate based on the local currency before you head out of town.
- Food, drinks, and snacks for the whole family.
- Gasoline prices. Taxi fees. Subway expenses.
- Prices of anticipated tours and excursions.
- Hotel fees and taxes.
At the end of the day, will your wallet have enough left over to buy a can of Diet Coke? Or is that Coke more expensive than you thought it would be?
Do You Know What $1 Will Buy On Your Vacation?
Near where I live, $1 doesn’t go very far. But depending on where I travel, that $1 might just get me a whole lot more. Or less! And I prefer to be prepared.
Do you set a travel budget before choosing your next travel destination? Do you know how much your wallet can buy when you arrive there? Do you know how much that can of Diet Coke will cost?
Got a travel budget tip? Share it with us! We’d love to hear it.
Read more about establishing a travel budget at Planning A Vacation? Plan A Budget First!
Photos from C.Biederman.