7 Easily Forgotten But Crucial Things To Budget For

When planning a holiday or trip budgeting is one of the most stressful and annoying things to try to work out. Putting aside a certain part of your pay each week is tough, working out how much to put aside is even tougher. What’s worse is forgetting to budget for some costly, yet essential things for your trip that end up taking a toll on your shopping or attraction funds that you’ve worked so hard for!

Money, Money, Money. 2014. Photo Credit: K.Allan

Money, Money, Money. 2014. Photo Credit: K.Allan

But never fear, Global Whispers is here! So when planning your getaway and your budget and money requirements, don’t forget to include these 7 easily forgotten but crucial things to budget for:-

  1. Emergency Cash

    It may sound silly but having a few hundred dollars stashed somewhere safe (that you can’t impulsively spend on a new handbag) is very important! If the unfortunate happens and you have your bag or wallet stolen, lose your credit card or travel card or have your luggage lost or delayed having that extra cash to get you through until you sort it out will be your lifesaver and you’ll thank yourself for being so clever (or at least thank me for telling you to do it!).

    Budget: Approximately $100-$500 in the country’s currency.

  2. Visa and Passport Costs

    If it’s your very first time overseas you’ll be required to apply and purchase a passport, which isn’t cheap but a wise (and frankly essential) investment. In Australia passports are valid for 10 years (unless you fill the pages sooner) and are now with electronic chips to make it easier to electronically go through immigration in some countries (Australia and New Zealand). However, it will set you back a few hundred dollars, but without it, you aren’t going anywhere! Some countries also require you to obtain a Visa in order to gain entry to the country and so researching, applying and paying the fees for these before your trip is crucial!

    Budget: This will vary depending on your home country so check out your governments immigration websites or offices.

  3. Transportation Costs

    Sure you’ve booked your flights to your first chosen detonation, maybe even another flight to the place after that, but now you have to budget for getting around while you are visiting your destination. Again, depending on where you are, costs can vary so make sure you budget for different means of transport be that train, bus, cab, bike, private driver, plane or boat.

    Budget: Another variable depending on where you are heading and with how many people.

  4. Tipping (Depending on where you’re heading!)

    It’s not so common in Australia, so it can come as a rude shock when a gratuity is automatically added to your meal or a cab driver keeps most of your change. In many countries, particularly the U.S.A. and Canada, the minimum wage is fairly low and therefore workers rely on tips and gratuities to get by. It’s definitely worth considering how much this could potentially impact on your budget so you’re not shocked when gratuities happen or are asked for.

    Budget: In the USA gratuities are up to 20% of your bill and in Europe it can very between 5-15% of your total.

  5. Hotel Bonds and Incidentals

    This is something I hadn’t considered until staying in my first hotel overseas. Hotels need a way to ensure that if you trash their room they have a way to charge you for the costs of fixing or replacing it. Usually the money is held for the duration of your stay although in my experience, sometimes the hold can take longer than the day of your checkout to be unheld on your card so keep this in mind. Perhaps placing your bond in cash or on a separate card that doesn’t have your current spending money on it is the way to go for this one.

    Budget: Bonds and incidentals are generally between $25-$150 per day depending on the hotel type and location.

  6. Food, Food, Glorious Food… Everyday!

    It’s easy at home, you have your kitchen with groceries all ready to go, you might even have your favourite restaurant walking distance or a short drive from your house. Overseas, it can be different. You usually don’t have the luxury of walking to your fridge to get a snack, prepare dinner or to simply get a drink. Whilst most hotels nowadays have a mini bar and room service these are (more often than not) not included and incredibly overpriced. So definitely keep in mind that you have to budget every meal and snack that you want for your trip.

    Budget: $10-$40 per day, depending on how many meals you have, and class of food (e.g. restaurant, fast food, buffet etc.)

  7. Travel Insurance

    This should be a non-negotiable budgeting requirement. I cannot stress enough how important travel insurance is! Think of it as spending a few hundred dollars to potentially prevent thousands of dollars in medical or emergency expenses. Definitely shop around and make sure you are being covered for everything you need and want from your insurance and purchase this as soon as you have set your trip so you are covered for all your bookings and expenses.

    Budget: This will vary amongst companies, your age and destination so do some research before you buy to get the best deal and cover!

Planning ahead for these unexpected costs is vital and hopefully this helps you be more money and budget conscious before your trip so you don’t have the stress of money raining on your holiday parade!

All posts are by Global Whispers and are entirely my own opinions, views and experiences.


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