A Budget is a financial plan for a defined period, often one year. It is a sum of finances allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. Budget can be made for a person, a business, a government, or just about anything else that makes and spends money in any way.
Budgeting is very important to everyone. It estimates revenue, plans expenditure, and restricts any spending that is not part of the plan. To manage your monthly expenses, prepare for life’s unpredictable events, and be able to afford big-ticket items without going into debt, budgeting is important.
In today’s scenario, where the expenditure of every person is increasing with every day, Budgeting has become an essential factor to live. How to travel on a budget? You’ll be getting a fool-proof answer to this, through this article.
1.Building a Budget
To build a budget, you need to follow certain steps. First, you have to write down your net income. Then you have to track and categorize your spending. After that, set your destination accordingly and make your plan. Now, at last, just adjust your spending on wants and evaluate on needs. Once the budget has been set up, all you need to do is pack your bags and take off!
Do you want to travel? But you are afraid of spending a lot of money on the trip! Don’t be hectic. It’s all possible to travel on a low budget. have you confused, how is this possible to enjoy traveling on a budget? Well, this is true. You can have your budget trip to your place. There are plenty of ways to travel on a budget. You just need to get creative. Following are some tips that would definitely fulfill your dream to travel, on a budget:
Get city tourist cards. If you plan to explore sights in a city, then it’s better if you should get a city tourist card. This will give you access to have discounts or even free access to many places.
Book your tickets in advance. It’s relatively cheaper to book transport, accommodation, and activities well in advance. Tickets usually become expensive in the last month.
Prefer hostels rather than expensive hotels. You’ll save a lot of money if you prefer to stay in a dorm in a hostel with a shared bathroom. This will reduce the cost of your trip.
Use public transports. You can use public transports while traveling. While traveling short distances, you can travel by bus. Instead of a plane, you can travel overnight on a train.
Get travel insurance. It is the most important tip to travel in a cheaper way to your place. Though it is an extra expense, it is a better option as you can have your money back in any further emergency.
Travel out of season. You can travel on a budget through this tip too. However, you might not be able to guarantee the weather, but you can save your time and money. You may have all the time for yourself.
Apart from these tips, you can also follow the following facts too. These would help you in traveling on a budget:
Try to travel overnight. Traveling overnight will save you money and time. You can save the hotel charges for one night and thus could have more time to explore your destination.
Pack properly. Ensure that you bring all the necessary things so that you don’t have to shop. Always keep some items which might have a need in unpredictable weather events.
Search for free events or entries. Traveling on a budget? One you can add to your list is- Explore free activities that you can do at your chosen place.
Couch surfing. If you have to travel on a budget, couch surfing is an ideal idea for you. You can make contacts with the local people and stay with them. But be safe and choose the people with good reviews. This will save the money that you have spent in hotels.
Avoid expensive cafes or restaurants. You can save your cash by switching to a supermarket or even a local fresh food market. Also, try to avoid spending on beer.
Use student and other discount cards. Are you a teacher/student or under 26? Get a student/teacher/youth card and save a big amount when you are abroad. Galleries, museums, and many tourist attractions have such discounts.
Traveling is a wonderful opportunity and traveling on a budget makes it more accessible. Traveling the world without money is an impossible dream, but you can reduce the cost of traveling. Even a common man may have access to travel in a better mode through following these tips during his trip. Also, if you save money on one place you can spend it on any other useful one.
Srishti Soni is a commerce students with a keen interest towards business and financial society. She is down to earth and loves to explore new things. She believes in practical world and loves listening music.