Blog /
How To Make Your Own Travel Budget
Estimated reading time: 6 minutes 30 seconds.
How To Make Your Own Travel Budget
Written by Oliver Munro
October 13, 2022

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”

           - Pablo Picasso.

Saving for travel begins and ends with a travel budget.

When you set goals for saving and spending, you start turning an idea into a reality.

But if you’ve never made a travel budget before, it can be tough to know where to start.

Don’t worry, this guide’s got you covered.

Here you’ll learn what to include in your travel budget, how to put it together, and how to work out exactly how much you need to save.


  • Why travel budgets are so important 
  • How to plan and build a travel budget
  • Pre-flight expenses
  • Holiday expenses
  • Emergency fund
  • How much to save for a trip
  • Take the stress out of saving for travel

Here we go!

Why Do I Need A Travel Budget?

"A budget is telling your money where to go, instead of wondering where it went."

            - Dave Ramsey.

To make travel more affordable, you need a budget to follow.

Good travel budgets allow you to know exactly how much you need to save for a holiday and ensure you save enough in time to afford your whole trip.

It doesn’t matter what your budget looks like, so long as you stick to it.

You can use a spreadsheet if you’re familiar with Microsoft Excel or Google Sheets. Or you can just use a piece of paper or a whiteboard - whatever works for you.

How to create an effective budget for travel:

  1. Make a list of all your pre-flight expenses and their costs.

  2. Add any costs and expenses you can expect from your trip.

  3. Include an emergency fund in your travel budget.

  4. Work out how much you need to save in total.

  5. Determine a monthly savings goal.

Let’s take it step by step.

How To Plan And Build A Travel Budget

“A budget doesn’t limit your freedom; it gives you freedom.”

              - Rachel Cruze.

Step 1 is working out what all your expenses will be.

This doesn’t just mean food, accommodation, and flights.

There are also some hidden costs related to travel that we’ll touch on soon.

Vacation expenses can be broken down into three categories:

  • Preparation

  • Trip

  • Emergency

Each of these categories needs to be calculated and added to your total budget.

Here’s how to do that.

Pre-flight purchases

A travel budget should cover the entire process - not just the trip itself.

There are a few expenses to consider before the wheels leave the tarmac.

Some depend on your destination, personal preference, and length of stay. Others apply to every trip.

Here are some common pre-flight expenses to add to your travel budget:

  • Flights

Airplane ticket prices are always changing. If you wait too long to get them, they can end up being the most expensive part of your trip.

Book as far in advance as possible to get the best deals on flights.

  • Baggage

Research the baggage policies of any airlines you’re taking. If you need to buy a new suitcase or backpack, include it in your travel budget.

  • Visas

You may need to apply for a visa to enter your destination country. Not all visas are cheap, and it’s best to apply for them as early as possible. 

Check government websites for information about travel visas and their cost.

  • Clothing

If you’re going somewhere with extreme weather, you might need to buy new gear. Make a list of all the clothes and equipment you’ll need for your trip and add it to your total expenses.

  • Travel insurance

While not everybody invests in travel insurance, it’s highly recommended for first-time travelers. In certain countries, it’s even compulsory in order to gain entry.

Shop around for the best deals before you add this to your expense list.

  • Immunizations and COVID-19 tests

Some countries require certain vaccinations and negative-result COVID-19 tests from tourists. 

Find out the entry requirements for your destination and get quotes from medical centers to determine how much you’ll need to spend.

Here’s a simple pre-flight travel budget example made using Google Sheets:

Take into account any you-specific purchases you need to take as well. This includes personal medication, a new passport, and a taxi fare to the airport.

Holiday expenses to prepare for

It can be tricky to estimate how much your trip will cost before you go.

Most of the time, travelers end up spending more than they expected.

By taking into account every ​​expense before traveling, you greatly increase the accuracy of your travel budget.

Common vacation costs to include in your travel budget:

  • Accommodation

Search the towns and cities you want to visit on booking platforms like and Hostel World. Work out an average nightly cost in each place then multiply it by the number of days you’ll be there for.

  • Transportation

Find out how much public and private transport cost in your chosen destination and multiply the costs by how many times you think you’ll need to use one.

Remember to include a little extra for emergency taxis and times you catch the wrong bus or train by accident (it happens).

  • Food and drink

Look at your current eating and drinking habits and budget as if they’ll continue when you’re away.

We often forget about all the mid-afternoon snacks, drinks bought at bars and nightclubs, ice-creams in the sun, and other holiday purchases. Try to account for as many as you can.

  • Activities

Are you going on a relaxing break or an adventurous expedition?

How many non-free activities or tours do you expect to do?

Research the costs of activities in your destination and add the total to your budget.

  • Personal purchases

It’s easy to spend money on small things without thinking about it while you’re on vacation.

They might not cost a lot individually, but these small purchases can add up.

Here are some common personal expenses to add to your travel budget:

  • Active subscriptions (Netflix, phone plans, etc.)

  • Gifts for friends and family

  • Souvenirs

  • Donations

  • Sim cards and credit

  • Entry fees (natural reserves, nightclubs, museums, etc.)

  • Massages, haircuts, manicures, pedicures, etc.

  • Towel rentals

  • Coffee

You don’t need to work out an exact figure for each of these items. Just try to create a rough estimate based on your regular habits.

  • Replacements and repairs

Buttons come off shirts, cellphones stop working, sunglasses break, socks don’t come back from the laundromat…

The list goes on.

If you’re going on a short trip, you may not need to get things replaced immediately. But if you’re traveling for months at a time, that lost pair of nail clippers can’t wait forever.

Add around $50–100 USD to your travel budget for each month you wish to travel for. You may wish to add more if you’re going to be moving around a lot.

Your travel budget should now look something like this:

Emergency travel funds

The final addition to any good travel budget is an emergency fund - especially if you don’t have travel insurance.

Emergency funds take some of the pain away if:

  • You miss a flight.

  • Require urgent medical attention.

  • Need to fly home sooner than expected.

Determining how much money to put in your emergency fund can be tricky. 

A good rule of thumb is to set aside enough money for a return flight home.

In most cases, the worst scenario is that you get stuck in another country with no cash and no flight out.

An emergency fund will help you overcome this problem with a little extra to spare for any other unforeseen hurdles.

How much do I need to save for my trip?

It’s time to work out exactly how much you need to save for your trip.

First, add up all the costs of your travel budget expenses.

Divide that goal by the number of months until your desired trip date.

This will tell you how much money you need to save for your next vacation.

There you go!

Once you’ve followed the above steps, you’ll have an adjustable travel budget to save towards and eventually spend from.

Take The Stress Out Of Saving For Travel

We know how stressful budgeting for a trip can be.

Flywallet is a free toolkit for people that want to travel more often, but with less hassle.

When you sign up for Flywallet, you get:

  • An all-in-one budgeting and booking platform.
  • Expert travel and financial advice.
  • Highly useful resources for travelers.
  • Access to a global community.
  • …and more!

Sign up today to begin your Flywallet journey.

Every journey starts with a cent.

Want More Helpful Budgeting Tips And Travel Inspiration?

Sign up for the Flywallet newsletter to get your monthly dose of super useful information for travelers 

Every month, we release a newsletter chocked-full of handy tips and travel inspiration. Plus, it’s totally free.

Inside each issue, you’ll find:

  • Expert savings advice that’s easy to follow.

  • A highlighted destination to add to your bucket list.

  • A fun comparison between how to spend and how not to spend your savings.

  • An inspiring story from a real Flywallet saver.

  • And the latest and greatest company news from Flywallet.

What are you waiting for?

Sign up now

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Tags: travel, hotels, tips
Oliver Munro
Content Creator and Copywriter at Flywallet

Struggling to save enough for a holiday?

Flywallet is an all-in-one budgeting and booking tool built just for travelers. Create custom savings plans, earn sweet rewards, score cheap flights, and more.

More Articles

Ready to fly?

Get on top of your travel budget and find your perfect flight today.

Join Flywallet to start your journey.