Planning A Big Trip In A Financially Responsible Manner

Planning a big trip to a place that you’ve always wanted to visit, is a bit of a daunting task. There are so many issues to resolve and things to pack before you make that big leap into a mysterious land of fun and adventure. Besides the fun you’ll have, the people you’ll meet, the music you’ll be dancing the night away to, and the food your taste buds will be introduced to, the biggest task is the finances. If you’ve never gone on a long trip anywhere, you’ve most likely never planned a large trip either. It’s very easy to get overwhelmed if you aren’t prepared and even worse when you’re confused and unaware of what to do when you’re abroad. For these reasons, you should be giving the financial side of the planning, your utmost attention. Money isn’t the end all be all, but it can solve a lot of problems and open many doors when you’re on your adventurous travels.

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Image by – TheDigitalWay


Decide the location


Before you start anything, the destination should be clearly defined and chosen. The country and location will determine the general price of the necessities such as hotels, food and local amenities like guided tours use of public services. The country will also decide the currency you’ll need to convert your money into. The amount you need should be decided well beforehand, so you know how much you’re willing to spend. You should also make sure you have an emergency fund which you can dip into, so you’ll need a little extra money on the side.


Start saving here and there


A large trip is basically an expense because, it’s not part of your daily routine, or necessary to your living standard. Therefore you need to start saving up in a proficient manner of pace. The first thing you should consider is cutting back on your daily or weekly shopping and only buy the things that are essential to running your household. Cut back on lavish spending such as on clothes that are purely for superficial desires. Cut your hair at home, or by the services of a friend who is handy with scissors or has some experience. Don’t buy food or drink while you’re out and about; whether it’s shopping, meeting a friend or at work. Always take with you a packed lunch and drinks in plastic bottles for your needs.

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Photo by – Steven R. Doty


Burdens and loose ends


If you have any debts that are outstanding, it’s very sensible to get those out of the way first, before you start saving money while will pay for your holiday. Loose ends like bills that are yet to be paid and have been pushed back should take your priority. If you’d rather like to juggle both the idea of saving up for your big trip, while also paying off any outstanding payments, then you should look perhaps at secured loans for debt consolidation. All your debts can be centralized into one affordable payment scheme. Companies will take all the different payment schemes you’re currently on, and merge them into one monthly program where you pay a set figure, and it’s equally shared out among all the companies you owe. You’ll only have to worry about a single loan that narrows your burdens into a fixed monthly repayment. It’s far easier to keep track of your finances so that you can save, while also making taking care of your obligations.


Planning the journey


Next, you should focus on the money you’ll need to get to your destination. These costs should factor in the cost it will take to get to the airport, such as the train tickets. Most importantly is perhaps, booking far in advance so that you can get the cheapest possible plane ticket. You could also sign up for a newsletter to get the latest deals and news to keep track of. Seasonal and special occasion offers are something you should be looking out for to get a one-off discount on flights. It also matters, how much luggage you’ll be taking with you because this will add to the price of your flight because companies want to keep cabin luggage to a minimum. The hotel or other accommodation you’ll be staying will be of varying costs and dependent on location, target customers and quality of rooms.


Emergency funds


You never want to be caught out while in a foreign country. As you’re not a citizen, if you’re hurt, you going to have to pay for your medical treatment. First, you should do some research on the governmental policy around holidaymakers and medical emergencies and how a situation is to be financed. If you’re somehow in trouble with the law, you’ll need bail money to get yourself out of the local jail. You may also need to pay for an interpreter who can communicate with the authorities efficiently on your behalf. If you need to book your flight back home in advance and before the date agreed to on your plane ticket, the emergency fund can come in handy for you to quickly go back home and possibly deal with a family emergency. Keep your emergency funds away from your main luggage, as robberies in hotel rooms and especially pickpockets in large cities, will prey on foreigners especially. An emergency fund is crucial because it takes the place of your credit card, which you should not be traveling with.
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Source – Porapak Apichodilok


Plan activities


You may get a much clearer picture of how much spending money you have if you do the proper research of the local activities online before landing. Many websites list the prices of their services and the cost of their activities so if you want to hit a few spots which have taken your definite interest, plan ahead, so you know how much money you will need.


Big trips are very enjoyable because you’ll get a comprehensive viewpoint of another country and culture. But none of that is possible if you don’t have the funds needed to pay for them. Financially planning is important to make sure your personal life isn’t sacrificed for a short term trip, because the responsibilities and obligations you leave behind, will be there when you get back and perhaps in a worse state.


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