When you’re planning a trip, one of the first things on your mind is undoubtedly your budget. “How much will I have to save? How much will I have to spend?
It’s not always easy to estimate how much you’ll need to spend on your trip. It all depends on the length of the trip, the destination, exchange rate fluctuations, the way you want to travel and your comfort requirements. Often, whatever the budget, it’s highly likely that it will be used to the maximum, and even exceeded.
Travel budget
You adapt the calculation according to the expenses you’re planning. The given travel budget is first of all the bare minimum, then according to your travel profile.
There are two ways to define a travel budget:
- Define an approximate overall cost (transport, accommodation, meals, activities, insurance, etc.) and draw up a budget.
- Define an allotted sum of money and then determine the specifics of the trip. Once the overall budget for the trip has been defined, it’s a good idea to add some “slack”, i.e. a margin of at least 20% on your initial budget. This extra amount will serve as a contingency fund in case of unpleasant surprises.
Anticipated expenses
When planning your trip, and therefore your budget, there are a number of factors to take into account:
- Transport: Flight, train, bus, cab, car rental, fuel…
- Accommodation : Hotel, apartment, youth hostel…
- Meals: restaurant, individual supermarket purchase.
- Activities: sightseeing, national parks, festivities, equipment rental, sports, etc.
- Shopping: souvenirs, gifts, basic travel equipment (bag, camera, clothes)…
- Miscellaneous: passports, visas, vaccinations, travel insurance, bank charges, taxes, telephone calls abroad, exchange rates, etc.
- Many of the details for transport, accommodation and activities are available on the internet via booking sites. For other elements, some rates are also available on the internet via simple Google searches.
To manage your budget as effectively as possible, it’s a good idea to draw up a provisional budget for your trip in advance, using an Excel file that will give you a general idea of the total cost of your expenses.
Budget balance
In some cases, for longer trips (over 1 month), it may be possible to balance your budget by working in the country you’re in, as earning money will reduce your expenses. Put simply, a good travel budget is the balance between our expenses and income, according to the time spent in a given place.
Budget management abroad
Cash
In France, we’re used to paying for every purchase by credit card, but when we’re in a foreign country, payment by card is not always accepted, or even non-existent. Similarly, since the Euro is used in 19 countries of the European Union, it is not accepted in other countries. This is why having cash on hand in a foreign country is essential.
Two ways to get cash:
- The one you bring from France (which can be exchanged for local currency)
- Cash withdrawn from an ATM (in local currency)
Blue card
A bank card is an essential part of any trip, as it will enable you to make purchases on the Internet, on the spot, but above all to withdraw money from ATMs abroad, giving you local currency.
It’s often better to travel with two credit cards rather than one, because if they’re lost, stolen, forgotten or the limit is reached, you’ll find yourself with no cash and no means of payment.
Note that some bank cards offer significant advantages: free services, higher credit line, preferential interest rates, insurance, foreign assistance services. So if you qualify, it’s a good idea to get one.
Changing money
There are two possible ways to change your money:
- At a bureau de change in France
- At a foreign exchange office
This step is essential, as it will provide you with local currency and enable you to pay for your various purchases. It’s worth noting that foreign exchange bureaus are generally not recommended , due to poor exchange rates and extravagant commissions. The same applies to airport bureaux de change, where exchange rates can be higher.
In this case, it is advisable to go to an ATM, which is present in 99% of cases in airports.
Therefore, to be prepared for all kinds of financial situations, it seems important to plan a budget for your trip, taking several elements into account. This will enable you to manage your money and make the most of your stay!
