How to budget for long-term travel

Taking an extended vacation can be a once-in-a-lifetime experience. One way to get the most out of your long-term trip is by making a budget that complements your travel plans.

Knowing how to make a budget for extended travel (think 30 days or more) can help you feel more financially confident when you travel. When you’re realistic about the cost of things like transportation to and from your destination, plus the cost of accommodations and other living expenses when you get there, you’re less likely to be surprised by what’s left in your bank account. Where to start? We can help you create a travel budget for your extended vacation.

Your long-term travel budget tips

As you plan your extended vacation, do your research and think about answering these questions:

  • How long will you be gone? A month? Two? More?
  • How much is return airfare to your destination? Will you travel in high or low season?
  • Where will you live? In a hotel, hostel or apartment? Can you strike a balance between comfort and price?
  • What is your destination's cost of living (such as groceries, transit, entertainment)?
  • How will you get around? Rent a car, use public transit or rely on your own two feet?
  • What will you do in a medical emergency? Are you planning to get travel medical insurance?

Feel good about your long-term travel budget

Having a budget in place can help you understand the costs associated with your long-term vacation, which in turn can help you manage your travel spending so you can focus more on having fun. There can be a real sense of confidence that comes from being prepared.

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