How to Calculate Travel Expenses: Complete Guide

Discover how to calculate travel expenses and avoid unpleasant surprises

Calculating travel expenses should be one of the first steps when planning. After all, analyzing places of interest, booking accommodation and tickets gives you a pleasant feeling of anxiety. However, you need to know how much money will be needed for the entire experience to be successful.

Who has never ended up spending too much on a trip that was supposed to have a well-defined budget, and got stuck afterwards? Well, these things are much more common than we think, and unforeseen events always end up happening when we are away from home.

Enjoying the attractions and seeing new places can be a lot of fun, but it requires attention so that no one ends up in the red. We have put together a complete guide for you to know how to calculate travel expenses in this article.

Why is it important to calculate travel expenses?

Calculating travel expenses is extremely important. This is how you will know your next stop, and can enjoy the experience of traveling with more peace of mind!

Avoid unpleasant surprises

Through correct financial planning when traveling, you can avoid unpleasant surprises and have more money to enjoy the experience.

After all, no one deserves to travel without being able to relax. Considering every detail - from purchasing tickets to daily expenses on food and tours - you can stay within your budget and avoid being in the red.

And oh, this isn’t just for leisure trips. In the case of corporate travel, correctly estimating expenses and avoiding excessive expenses also contribute to a balanced budget and opens up the opportunity for more trips to occur!

Keep an eye out for unforeseen events

We know that unforeseen events always happen. Sometimes it's transport that ends up being more expensive than we imagined, sometimes it's luggage that we need to check in because it's too heavy. Anyway, things always end up happening when we are away from home, and this can result in very heavy expenses for our pockets.

By calculating travel expenses correctly, you can avoid going over budget, and set aside a reserve for unforeseen events that may occur, protecting yourself in case something happens outside of plan.

Better direct expenses

Through good financial planning for travel, you can define your expenses by category more easily, and really understand what the correct prices for food, transportation and tours are like.

It's normal to spend on impulse when we're traveling. Wanting to take advantage, however, does not need to be linked to large expenses. It is possible to give up some things to be able to enjoy a more elaborate tour or meal, making the entire experience even more incredible and memorable.

Save more

Just because you're traveling doesn't mean you need to return home clean, quite the opposite! By calculating your travel expenses correctly, you can save more and plan for your next stop, ensuring much more fun.

A good example of how to save more is to research tickets and accommodations well in advance, and be aware of changes in prices. It is also important to give preference to cheaper destinations. Istanbul is a destination known for being cheap and full of incredible attractions.

And if you're worried about having to monitor values all the time, don't worry. There are tools that, through artificial intelligence, build personalized itineraries and provide the best flight and accommodation options according to your preferences.

Main components of travel expenses and practical tips

We've put together some tool tips so you can calculate your travel expenses with the help of technology, without having to rack your brains in search of a thousand pieces of information.

Air tickets and transport

Initially, to calculate the costs of a trip it is necessary to think about the cost of airline tickets and other means of travel.

The first step in calculating the cost of a trip is to consider the price of tickets and other means of transport. If you are traveling by plane, search in advance. This way, you guarantee the best values.

There are many ticket search engines that compare and help you find the best prices, where you can even trigger an alert that informs you when tickets are dropping in value.

It is also important to consider transportation costs, such as taxis, Uber, public transport, car rental, among others. Consider the prices from the airport to the destination, and also for possible attractions.

Some sites like Skyscanner, Kayak and Google Flights are great alternatives for you to stay on top of prices.

Accommodation

The choice of accommodation is another point that greatly influences when calculating travel expenses. The options range from hostels, hotels and house rentals. To decide what best applies to your case, consider the prices, location and length of your stay.

Don't forget to check additional fees like cleaning and taxes! Some of the sites that can help you with this process are Booking, Airbnb and Trivago.

Food

Food costs are another point that must be considered. They tend to vary a lot according to the type of food, destination and duration of the trip.

However, there is a more accurate way to calculate the values:

•  Research prices: check the online menus of restaurants at your destination. This way, you can easily have an estimate of values;
• Plan your meals: how many meals you eat per day, where you plan to eat, whether you will cook, etc.;
•   Include snacks: Don't forget to consider drinks, snacks and other things you can consume during your trip!

Some sites such as TripAdvisor and Zomato provide various information about restaurants, such as prices, menu and operation.

Tourist attractions and leisure activities

Finally, consider the costs of tours and tourist attractions. Prices can vary greatly depending on the destination and season, so it is important to research.

It is also legal to purchase tourist attractions in advance. This way you guarantee the first batches or even discounts.

Some cool websites to track prices for tours and other activities are Viator and GetYourGuide.

Shopping and souvenirs    

Every Travel checklist has a specific budget for purchasing the famous souvenirs. Taking travel gifts for those you love is a way to show affection and also please the people you care about. However, you need to pay attention to these expenses to avoid running the risk of going over budget and ending up being surprised by the amounts.

When buying gifts, it is important to pay attention not only to the price, but also to consider the exchange rate in case of international travel. Avoid making purchases at airports or other places that may have high prices, and give preference to stores that are part of Tax Free.

Check with the attendant if the establishment is part of the program, fill out the form and guarantee reimbursement of fees and taxes on the product purchased.

Travel insurance and visas

Taking out travel insurance is essential for anyone who wants to have a more relaxed trip. The plans generally offer different coverages, which leave you more at ease in the event of unforeseen events and accidents.

There are plans that cover medical emergencies in national and international territory, guaranteeing care and, if necessary, return home.

Many insurance companies also help you obtain visas for countries that have this requirement, and cover flight delays and cancellations, if necessary.

Conclusion

Knowing how to calculate travel expenses is not a complicated task. 

Through some resources, you can not only save more but also create and maintain a budget that will guarantee you more comfort on your trip.