How to Budget for International Travel

Planning an international trip often involves closely monitoring flight prices closely to find the best deal or deciding which iconic sites in your destination country to visit first. In the excitement of planning, you might not realize just how many little expenses there are when you travel out of the country — and those costs can add up quickly.

Lowering your trip costs is one way to get more value from your travel protection plan, so having an accurate budget before you travel is important. The following areas will help you figure out how to budget for international travel to avoid unexpected expenses.

Travel Expenses

Your flights to and from your destination country often top your checklist for traveling abroad. The tickets also account for a large portion of your budget. Don't forget to factor in the costs of a ride to and from the airport, airport parking and snacks you might eat on your travel day. 

Packing lightly can help you reduce your travel expenses. You can avoid baggage fees when you minimize what you pack. Plus, you'll have an easier time getting around in a foreign country with fewer suitcases.

Another often-forgotten travel expense is transportation during the trip. It's common for international trips to involve more than one city or country, especially if you're traveling to Europe, where the countries are small and transportation between them is easy. 

Look at your travel itinerary to determine what types of travel you'll use between different stops. Calculate the costs of the transfers, whether you fly, take a train, or use another mode of travel. 

Even if you stay within one city, you'll likely have travel expenses to get to different sites you visit. Research the cost of taxis, trains, buses and other transportation options within each city you'll visit to budget enough money for transportation.

When you're planning a multi-leg trip, you always run into the possibility of delays or cancellations. Purchasing a travel protection plan may help protect your investment in those situations. While travel protection adds a small amount to your budget, it's well worth it to give yourself peace of mind.

Document Expenses

Before leaving the country, you'll need a passport if you don't already have one. A U.S. passport costs around $130, but you'll also have an administration fee, and you could have additional fees if you need to expedite the document. 

If you already have a passport, check the expiration date. Many countries will deny entry if your passport expires within 6 months of your arrival. You may need to figure in the price of a passport renewal if yours is set to expire soon. 

Some countries require visas for travelers, which come with an additional expense. The costs vary but could be a few hundred dollars per traveler. As soon as you choose your destination, research the visa requirements and costs to get a better sense of how much it will cost you to travel abroad.

Activity Expenses

When you're in another country, you want to see and do as many things as possible. Soaking up the culture of the area can be free — simply walking around a foreign town greets you with many sights and sounds. 

However, you'll likely include at least some activities on your itinerary that require an admission fee or participation costs. If you're trying to figure out how to travel internationally on a budget, you'll want to make a list of the places you want to visit along with the costs of those activities. This can help you anticipate the expenses and prioritize the stops you make.

Your research could also help you find ways to save money for your international travel on a budget. For example, at the Eiffel Tower, you can choose to visit only the second floor for a lower price than traveling all the way to the top. You can also get cheaper tickets if you take the stairs to the second level rather than taking the lift. For some people, the savings are worth it. For others, paying more to go to the top or having lift access is worth paying more. 

You might also need special clothes or gear based on the activities you choose. A hiking excursion might require hiking boots, a backpack and hiking gear, for example. Factor those costs into your budget because you'll need to buy those items before the trip. 

Keep in mind that pricing might also vary by the time of year. Traveling during the off-season often reduces your flight costs, but it could also reduce your activities budget. 

Accommodation Expenses

Your accommodations are another major expense for international travel. The amount you pay varies significantly based on the time of year, your destination, and the type of accommodations you prefer. 

Hotels are a common, convenient option, but they are often costly and offer limited space. You'll find a wide range of hotel types with similarly varying costs, so you can often find one that fits your budget. 

When figuring out how to travel internationally on a budget, you might consider hostels. However, you'll give up privacy in this type of overnight facility.

If you're traveling with a group, choosing a larger vacation rental could save you money. While the rental might cost more than a hotel room, splitting the costs between multiple families could reduce your overall accommodation expenses. Vacation homes often have kitchens to help you save money on dining, as well as more space for you to spread out in. 

Dining Expenses

International trips can be quite long, which means you're eating out for several meals. Dining at restaurants adds up quickly, even if you're choosing inexpensive quick-service meals. You also have snacks and drinks throughout your trip.

If you're renting a vacation home, you can reduce costs by buying groceries and cooking most of your meals yourself. Then, budget for a few splurge meals while out and about. 

Even if you're staying at a hotel, you can buy easy breakfast foods, snacks and drinks to keep on hand. Look for excursions that include meals, or research more affordable restaurant options in the areas where you're traveling. In some destinations, particularly tropical islands, some resorts are all-inclusive, which can help you save on your food expenses. 

Souvenir Expenses

Whether it's your first or fifth trip to the destination, buying souvenirs is part of the fun and helps capture the memories of the vacation. The souvenir budget for an international trip can vary widely, depending on what types of mementos you prefer. Some people love to buy lots of trinkets and items from every stop. Others prefer just a few. The length of the trip, number of stops and number of people also impact the total souvenir budget.

Having an idea of what types of items will be available and what you might want can help you set your budget. When you want to keep the trip budget low, look for free or inexpensive items like maps from museums you visit, ticket stubs or postcards. 

Additional Expenses

When you're planning international travel on a budget, don't forget about the extra expenses you'll have because of your overseas destination. Many countries use different types of electrical outlets, so you'll need to invest in outlet adapters. Make sure you buy the correct type of adapter to avoid wasting money on a device that won't work.

Some countries have vaccination recommendations or requirements. Depending on your health insurance coverage, you may have expenses associated with that medical care. 

Expect to pay fees to spend money in a different country. You'll pay currency exchange fees if you exchange your cash for the local currency. Even if you use your credit or debit card, you'll likely pay foreign transaction fees on each purchase charged by your bank. It's often a percentage of the total purchase. 

Budget for Your International Trip Wisely

World travel on a budget is possible if you research the options and prioritize how you spend your money. Investing in travel insurance with assistance services may help give you financial security in situations where your international travel plans don't go as expected. No matter how much or little you spend on the trip, having peace of mind and makes it easier to enjoy your travel.

6413512510