Travel on a Budget Like a Boss!

Planning to travel can often be seen as a highly stressful activity, but don’t fret. Long gone are the days where jet-setting was considered a sport only for the rich and famous. The recent additions of travel apps have made it easier than ever to travel on a budget as smaller airlines are competing with bigger airlines to fill seats. The great news is that there are deals on deals out there that benefit your wallet.

No matter if your destination is domestic or international, these travel budget tips can help you enjoy your time and come home with a few coins to spare.

Budget by The Day.

This one may be common sense for most, but you would be surprised as to how many people avoid all travel budget tips when they’re in the planning and logistics phase. The first question you should ask yourself is, “How much am I willing to spend overall?” From this, deduct the transportation costs and accommodation. Then divide what is left by the number of days you are planning on going away.

For example, let’s say I was traveling to London on a budget of $3400 for 10 days. My airfare costs $770, and my accommodations will cost $160 per night (London ain’t cheap). So for nine nights, my accommodation equals $1440. Therefore airfare plus accommodation equals $2,210. Subtract that from the overall budget of $3400 and we are left with $1,190. Simply divide that by 10 (the number of days I am in London) and you have $119 as your daily budget. This is substantial for a single person. For two or more people the same rule applies if you are budgeting together, except you need to allow for roughly twice as much for your daily budget.

I know that was a lot of numbers, but doing the math now won't have to worry about using that much brain power on your trip leaving more room to RELAX!

Measure Up

Now that the hard part is over and you have your allotted allowance, you have to apply it. If you’re anything like me, you’ll bring a good old composition book to record every expense. Such a system benefits you if you don’t use your daily budget and the funds carry over to the next day, making room for more fun.

Let’s say for example on my first day in London I am $36 under my budget. With nine days left I have an extra $4 a day ($36/9 days = $4). On the other hand, if I go $36 over budget on the first day I will have $4 less a day.

Don’t forget about the little expenses. How easy it is to swipe your credit card and hand over cash to friendly faces while roaming foreign land and not thinking about funds leaving your account. Spending can quickly add up and will shorten your adventure sooner than later if you’re not careful. With hand recording, you are more likely to avoid this. After the first day or so it will seem second nature and you’ll be proud you did.

If carrying around a notebook seems too old-school for you, there is always an app. Our travel family swears by the TrabeePocket app which supports and records purchases in local currency and differentiates between cash and credit transactions. This handy app allows you to manage daily, weekly and monthly reports as well and is available for both iOS and Android. Now you’ll have no excuse for coming back home broke when you travel on a budget using this app.

The early bird gets the bed

There is nothing more frustrating than running around last minute after you’ve landed to try and find a place to sleep. While this may be easier if you’re a single, backpacking nomad with no real timeline; but bosses on a budget--like ourselves--don’t want to waste any time looking for a bed after you’ve arrived. Planning everything in advance when you need to travel on a budget is always best practice. 

You may be familiar with sites such as Hotels.com. But did you know you could take it a few steps further for an even better price?

The first thing you want to do is sign up as a member. The agony of filling out another form could be dreadful, but those few seconds save you a whole lot in the end. Booking sites today offer rewards programs that earn members free nights after so many reservations that offer an even greater discount if you book a non-refundable trip.

Big Bonus-Make hotel rewards your best friend by carrying a travel rewards credit card.

Our favorite is the Chase Sapphire Preferred. It’s the friendliest on your budget and offers massive points for everyday purchases. 

Don't be a victim. Be Victorious.

I’m sure you’ve heard or seen a news story about someone getting ripped off while on vacation. All too easy is it for a local to spot an out-of-place visitor.

Never letting your guard down during transactions is a chief rule when bosses like us travel on a budget. Most European countries have a longstanding reputation of pulling the ‘Please help me I’m poor’ routine on tourists. Once visitors reach in their pocket or purse, some local idiot snatches and speeds off to the sunset with your money in hand. Don’t be that guy or girl. Cameras have also been a big target over the past few years so plan to secure your valuables around your neck.  

Fear not though of tourist traps and tricky scams. Know in advance where you are roaming and what areas to avoid. Do your homework on the place you plan to visit. TripAdvisor is a great start for research purposes. It not only highlights the hotel but offers in-depth reviews from patrons on their stay and solutions to things other travelers have run into. Just be sure to take the reviews with a grain of salt. We wouldn’t want you to be so terrified that you don’t take the trip. 

Guide books can give you background history of the country, safety tips, reviews and suggestions all the same. For up-to-date information consider using hashtags (#AdventureInBlack). Social media is a great source of current news and you may be surprised by the things you can find with a few keywords. Sharing experiences is also a major piece to expand the scope of black travel. 

“You buy cheap, you buy twice!”

As the old Caribbean saying goes, ‘you buy cheap, you buy twice’. 

As easy as it can be to hold on to your hard-earned money, sometimes spending an extra few bucks is well worth it even if your goal is to travel on a budget that’s fixed. 

With the incline of alternative housing for travelers, it can seem like a dream to get a deal online for a ‘grand place to stay’ only to arrive at an atrocious AirBnB. 

Don’t short yourself on the time it takes to research and be disappointed down the road. Nothing against AirBnB at all as it can be beneficial to finding a comfortable home to reside while traveling. However, these deals are less likely to be held accountable if they don’t meet your expectations. Nothing puts a bigger dent into your plans like having to shuffle around for last-minute accommodation. Were not saying expect a five-star hotel when you travel on a budget, but do settle for something nice. After all, this is about treating yourself to a good time.

Insurance. Better Safe Than Sorry. 

While we all hate to pay it, it goes without saying; ‘you don’t need it… until you need it’.

When overseas, you are a lot more isolated than you would be at home. If something goes wrong and you do not have travel insurance, you are in for one hell of a ride. If your travel plans include hazardous activities or extreme sports, settle for peace of mind with prior insurance.  

There isn’t much anyone can do at your expense if you choose not to foot the bill for travel insurance and you hurt yourself playing Tarzan, zip-lining through the rainforest. Your embassy will not fly you home free of charge. Assuming there’s one close enough to reach, at most they may allow you to phone home. Avoid this catastrophe altogether by picking the best plan for your budget.  We recommend “cancel for any reason” or “cancel for work” insurance that way you guarantee an insurance payout no matter the scenario. 

Know Your Plan So You Can Play in Peace

The number one rule to travel on a budget like a BOSS is knowing your limits. Your pockets are your business. 

It’s exciting to think of all the cool pictures you’ll be taking, and the amazing foods you’ve been waiting to try, along with the nightclub you’re dying to dance all night at, but a few organized weeks of research and planning will allow you to play in peace while away from home. With your budget handy you know exactly how many Pina Coladas you can afford while laying by the pool.