Budgeting for a Vacation

Working as corporate counsel for Genus PLC, Sonia Teas undertakes corporate legal strategy, commercial contracting, technology licensing, and mergers and acquisitions. When she is not working, Sonia Teas enjoys traveling and vacationing. 

Whether you are going to Paris, Rio, New York City, or anywhere else in the world, one constant requirement for any vacation is a solid budget. A good budget will help you figure out how much money you need to save while also providing insight into what kind of daily activities you can afford. 

First, determine how long your trip will be. Once you have figured out your daily expenses, you can multiply that by the number of days you plan on staying to get a rough estimate of the total cost of your trip. 

Use the Internet or guidebooks to find the typical cost of accommodations at your destination. Factor in your sleeping arrangements, transit costs, and food prices. You should also start looking into specific activities you want to do and add them to your budget. 

Once you have an estimated cost-per-day, add in extra money to occasionally treat yourself to a special meal or souvenirs. Specifically how much extra money you add is up to you, but shoot for at least $50 to $100, which can also help cover any unforeseen expenses.