Financial Planning on Trip

Hi folks,

Have been traveling back to back for last two months. The financial discipline becomes a tad bit harder while you are out of your regular city.

Some of the tips I use to manage my cost while traveling is

  • Set broad budget : For every trip, I have a broad budget on a sheet of paper. How much can I spend depends on the monthly budgeting exercise. From the disposable amount, regular expenses are deducted to get to at-will spending. For example, let’s say I have 50k to spend in a month and monthly expenses add up to 30k. The 20k is what I use as at-will money. This money is used to spend on hobby classes, trips, electronics et al. From this let’s say 10k come to trip expense and I take 3 trips in a month. Broadly 3k is what I spend on one trip.

These are broadly one/two day trip and trip organisers usually charge 1500/4500 and rest is to take care of food on the way. The same principle can be used for longer duration or more expensive trips too.

The benefit of setting a broad budget is – you are aware of your limit but are not too rigid. Eg if I take one trip costing 15k in a month, that simply mean – either I will cut down on other trips and/or cut down other at-will expense.

  • Go for frequent trips

Now this might sound counterintuitive, but a frequent break takes away the need for a longer trip or splurging on that one trip in a year.

Traveling then becomes part of who you are and the wise men say-

You learn more from traveling than any other medium.

  • Use travel groups

I have used bmc and plantheunplanned for my trekking trips. They are less costly thand traveling on my own and have a diverse group of travelers meaning more fun.

  • Get good quality stuff

Good quality stuff run longer than upfront cheaper items. Buy good quality travel supplies. If you are on budget, explore local markets they have good stuff.

  • Stuff I carry on a trip

Traveling bag – trolley bag for longer trips and backpack for shorter duration. I use laptop bag as I don’t carry it to office

Makeup pouch – Face cream in small container, sunscreen, one eye pencil in grey black, one lipstick, one comb, many rubber bands

Tshirts and shorts, raincoat

Inners

One Bluetooth speaker, mobile phone, charger and battery bank

One poly bag to cover everything in case it rains

One pair of shoes

One head torch

I’d card, bit of cash and a debit card

Hope this helps you too in managing finances while traveling.

Ciao

Ruchi

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