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Home » budget » How to estimate travel expenses

How to estimate travel expenses

January 17, 2017 by Karen Dawkins 23 Comments

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You can take a great vacation on a budget! It just takes a little planning and research. We take you through it step by step. Includes a FREE planner worksheet! #vacationbudget #vacationbudgetplanner #vacationbudgetworksheet #vacationbudgettips #freevacationplanner #vacationplannerbudget #vacationplannerworksheet #saveforvacation #saveforvacationideas #budgettravel #budgettravelplanner via @karendawkins

When planning for vacation, we use this travel cost estimator to figure out our vacation budget! For us, it’s not necessarily about cheap family vacations. For us, budgeting is a way of life. We budget groceries, gas money, clothes and gifts. So, we plan family vacations on a budget, too.

Sometimes, that vacation budget is $5,000. Sometimes, it’s much less! 

Here’s our step by step guide to how we use this travel cost estimator to figure out our vacation budget. At the end of the post, there’s a FREE downloadable travel budget worksheet you can use to plan your own family vacations on a budget!

 

We’ve been budgeting for vacations our whole marriage, just like we budget groceries and other expenses. We might actually be better at vacation budget planning. After all, vacations are fun! And I want to take more vacations — even if that means some are cheap family vacations close to home.

Through the years, readers have asked how to budget for a vacation. So, here it is — our step by step method to estimate travel costs.

How to make a estimate travel costs for a no surprises vacation budget

Believe it or not, making a vacation budget makes for a more fun vacation! If you estimate travel costs ahead of time, you can plan better. That means more relaxing once you get there, because you won’t wonder, “How much is this costing me?”

Step one is deciding the type of vacation you want and where to go. Got it?

Step two is figuring out how much it will cost.

If you have never looked ahead at expenses for vacation, it might seem overwhelming the first few times. But, I promise, after you do it once, it’s easy! And the peace of mind you get from knowing you can afford your vacation? Priceless!

So let’s look at how you “budget” the general costs of your vacation. I’ll be using a 5 day vacation example through the whole thing to help you see how it works.

NOTE: Resist the urge to book tickets or reserve a hotel at this point. This is the planning budget — to help you know what you can afford!

Vacation planning tools to help you estimate travel costs.

Two tools I use to calculate travel costs are MOMONDO and KAYAK.

Momondo is an online cost comparison search tool that does so many amazing things:

  • Compare flight costs by airline, date/time of travel and by airport to find the best value for your vacation,
  • Compare hotel costs from various discounters and also by dates of travel — maybe adjusting vacation by a few days or weeks will help you save tons,
  • Compare car rental costs by location and company.
  • Book deals directly through the site.

I like Momondo because I can explore all the options and decide what’s best for me. We used the tool to discover that flying from Fayetteville, NC was cheaper than flying from Raleigh. Sure, I drove an extra 30 minutes to get there, but I saved about $200. Great investment!

CLICK HERE to explore Momondo!

Kayak is an online booking tool that can help you save money on travel. You can book flights, hotels, rental cars and even cruises through Kayak. I compare prices I find on Momondo (which offers date flexibility) with Kayak (for specific dates) as Kayak is more of a booking site. I like Kayak because it shows all the booking options in one screen — from all the options available with a map so I know where each place is located. Once I know what I want, it’s easy to book through Kayak.

CLICK HERE to explore Kayak!

Cost factors to consider to plan a vacation budget

1. The Cost of  Travel — how much will it cost to get there?

The first thing to consider when you plan a vacation is how will we get there? Generally, when I plan a vacation more than a one day drive from home (10 car hours), I compare the cost of driving to the cost of flying. Of course, the more people who go, the more expensive flying is. Likewise, the further away the destination, the higher the financial cost (and time cost) of driving.

But, sometimes, when you way out all the costs of vacation travel, flying is the better choice. Sometimes, it’s not.

What is the cost of a road trip? To estimate the cost of driving to your chosen family vacation spot:

  • Figure out the cost of gas for the trip:
    • determine the number of miles you will travel (google maps provides a good ballpark figure)
    • divide the number of miles by your car’s mpg (the number of miles you travel per gallon of gas)
    • multiply that answer by the current cost of gas per gallon
    • Formula: M (miles round trip) / mpg  X  $ (price of gas/gallon) = Total cost of gas for travel.
    • Example: You decide to go someplace 250 miles from home, which is 500 miles roundtrip. Let’s say your vehicle gets 20 miles per gallon (mpg) on average. And, let’s say the cost of gas is $2.50/gallon. Using the formula above, it looks like this:
      • 500 miles / 20 mpg = 25 gallons of gas needed.
      • 25 gallons X $2.50 = $62.50 needed for car travel.
    • This Fuel Economy Trip Calculator is a great tool to simplify this step.
  • Then add in costs for toll roads if needed. This link helps make that easy.  In our example, there are no toll fees.
  • Budget the cost of food on the road:
    • as a general rule, figure $20/person per full day of travel. If traveling with teens or others with large appetites, increase that budget to $25/per person per day of travel to and from the destination.
    • In the example above, a 250 mile trip (one way) which is 3.5 to 4.5 hours of travel is, at most, one meal. For a family of four, I would budget $40 for this meal (half the daily food budget). Then I would double it for the meal on the drive home for a total of $80.
  • Add overnight hotel lodging (if needed for the length of the trip):
    • if the trip will take longer than a day, factor in the cost of a hotel at $100/room per night needed (there and back).
    • In the example above, an overnight stay would be unnecessary.
  • Then add in the cost of parking during your trip:
    • Do you have to pay for parking at the destination? If traveling to a major city such as Washington, DC, NYC or San Francisco, factor daily parking at $40/day for the duration of your stay. Other cities might cost a bit less.
  • Total each of these categories to estimate the cost of driving to and from your destination.
    • In the example, our cost for travel is $142.50 (gas + food).
    • If headed to New York City for 5 days, the estimated cost is $342.50 (parking for 5 days at $40/day = $200 in addition to gas for travel and food).
What is the cost of Air Travel?
  • Calculate round trip tickets within your half of the country (east or west of the Mississippi) at $300/person.
  • Calculate round trip tickets across the country at $600.
  • Or, explore actual costs on Momondo. Prices change, but you can get a good idea of cost with it.
  • Add in luggage costs ($30 per checked bag each direction).
  • Factor in daily parking at the airport (anywhere from $6 to $15/day).
  • For a family of four, the cost of round trip air travel would be $1200 + cost of parking at the airport.
  • Also calculate cost of airport transfers to hotel or cost of rental car for the trip. I use a quick figure of $100 for airport transfers each way and $25/day for car rental (which is low).

For a short trip like our 5 day vacation example, traveling by car is much cheaper.

2. The Cost of Lodging at your Destination

Hotels are the logical first choice for lodging. Other than airline tickets, hotel costs are the biggest part of the family vacation budget. So, it’s important to consider all the options when doing your travel cost estimator!
I search Momondo and Kayak when doing my family vacation budget, but I don’t book until I am done with the travel cost estimator for the whole trip. Then, I jot down the price of a few different hotels that meet our needs and use the most expensive hotel I’m likely to book for my working budget. That way I build in a little expense buffer!
Search Vacation Deals. Any time. Anywhere. Any Budget.
Factor an extra 15% of the full hotel stay for taxes. It might be a little more or less, but this keeps you close — no surprises to your vacation budget!
Then, look for resort expenses. Some hotels have them, especially those that offer more amenities. Does the hotel charge by stay, by day (most likely) or per person? Add in resort fees if needed.
Example: Looking at hotels at the beach, I know I want an outdoor pool, easy beach access and some sort of dining option. I find three hotels that offer these amenities and have decent ratings: Hotel A is $140/night; Hotel B is $160/night; and Hotel C is $175/night with free breakfast and the largest room. I would use Hotel C for my working budget.
  • 5 nights at $175/night = $875.
  • This hotel does not require an additional resort fee.
  • Taxes add on of 15% ($875 X .10 = $131.25)
  • Total hotel working budget is $1,006.25‬.

3. Add in dining and food costs.

While you might not be able to budget food costs exactly, you should be able to determine approximately how much food will cost on your trip. Look at theme park restaurant menus or do an internet search of restaurants at your destination if you have specific restaurants in mind.
TIP: If taking a “foodie” road trip, you might want to increase the food budget by 25% just to be safe.

As a general rule, we factor $100/day for a family of four if breakfast is included at the hotel. We increase it to $150/day if breakfast is not included. In major cities and at theme parks, we increase our budget by $50/day.

Example: Using the same 5 day vacation scenario with breakfast included at the hotel, I would calculate food costs at $500 (5 days X $100/day = $500).

4. Add in Attraction and Entertainment Costs.

What do you want to do on vacation? Consider set costs for your destination such as:
  • Theme park tickets
  • Other entertainment (Broadway shows, the opera)
  • Museum tickets
  • National park admission fees
  • Ferry costs
  • Bike, kayak or other adventure rental costs
  • Mass transit (subway or metro)

Here’s a GREAT MONEY SAVING TIP! CityPASS offers discount attraction package deals in many major cities across the United States. It also offers theme park tickets at some of the best rates available. So, check out CityPASS when planning your vacation! You could save 50% on activities.

CLICK HERE to explore CityPASS!

Example: Let’s say our family wants to go to a “theme restaurant” that includes entertainment at a cost of $40/person. For a family of four that would be an extra expense of $160. Since we’re at the beach, we want to rent beach bikes for one day at a cost of $15/person for a total of $60. And, we want to splurge on a cabana at the beach for two days to really relax at a fee of $80/day for a total of $160. Our add on expenses would be:

  • $160 + $60 + $160 = $380.

Remember, this is the working budget for planning the trip. There’s no need to make reservations yet. We’re just trying to figure out how much the vacation will cost.

5. Add up your total costs to know your vacation budget

Add all the costs from the above categories together to set your working budget for your trip.

In the example, my travel budget would be (I’m assuming free parking at the destination):

  • $142.50 for the cost of travel + $1,006.25‬ for lodging + $500 for food + $380 for extras and activities = $2116.25 total for vacation.

I use a one page sheet to estimate and compare vacation ideas. Here is your FREE vacation cost estimator tool!

Vacation Cost Estimator Tool

If you like this post, you’ll also like these other budget family travel posts!

  • CityPASS: A complete guide to this money saving attractions pass!
  • How to save on Disney travel.
  • Save on cruise shore excursions with the Hilton Beach Day Pass.
  • How to stretch your Disney Cruise Line budget and save.
  • Cruise Essentials: What you need, not what you don’t!

So, do you plan your family vacation budget? Or do you just wing it? Or something in between? I’d love to hear from you. Please, leave a comment below!

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Comments

  1. Ellie says

    March 14, 2022 at 2:32 am

    you wrote in the very beginning of the article ” At the end of the post, there’s a FREE downloadable travel budget worksheet you can use to plan your own family vacations on a budget!” I am trying to find where is the downloadable worksheet. Thanks!

    Reply
    • Ellie says

      March 14, 2022 at 2:36 am

      nevermind i see that the “estimator TOOL” IS the downloadable worksheet. (^_^)

      Reply
  2. Sophiawillam says

    June 12, 2021 at 8:47 am

    Thanks and everything is shared in this blog in an unique way. keep it up.

    Reply
  3. Rebecca Gardner says

    December 22, 2020 at 2:25 pm

    Thanks for the reminder to include the cost of parking at our destination when we plan our trip. My husband and I want to look at lodging so we can book a getaway together after the holidays. I’m glad I read your article so I can avoid surprises and get an accurate budget together for the trip soon!

    Reply
  4. Richard John says

    August 11, 2020 at 2:26 am

    This is very good post i have read i must appreciate to you to written

    Reply
  5. Tyler Johnson says

    August 4, 2020 at 1:33 pm

    I like the idea of planning all the expenses for things like travel and lodging beforehand. I could see how that would be a good way to make sure that you have enough in your budget for things like food and entertainment while in your trip. I’ll have to keep that in mind if I decide to take a trip with my wife this summer, so we could make sure we have an appropriate budget.

    Reply
  6. Gina says

    September 11, 2012 at 10:18 pm

    I don't remember where I found it, but I found a great form for planning a trip… just as you have outlined here. It was great!

    Reply
    • Karen says

      September 15, 2012 at 12:21 am

      Gina, That’s awesome. I guess great minds think alike. I’ll have to search vacation budgeting forms and include a link here at the site. I am old school, believe it or not, and still keep my budget with pen and paper. Really!

      Reply
  7. leigh says

    September 11, 2012 at 9:06 pm

    LOL – I love that you increase the food budget with Teens = they sure can eat you out of house and home!
    Leigh
    http://www.oneandoneequalstwinfun.com

    Reply
  8. Carla Karam says

    September 11, 2012 at 6:36 pm

    Karen… what a great article! You are always so “right on!” My hat's off to you for such wonderful information. Grace, peace and blessings, Carla

    Reply
  9. mail4rosey says

    September 11, 2012 at 3:49 pm

    No vacation debt is DEF the best souvenir of the trip…well except for the pictures. 😉

    Reply
  10. CrazyNutsMom says

    April 13, 2012 at 11:20 am

    Great tips!

    We are planning a trip next year and are investigating costs and planning now. We also use google alerts for information on sales going on now and for flights!

    We also coupon to save money and take mini trips.

    Reply
  11. Pamela says

    April 12, 2012 at 4:12 pm

    Good Post!! I always estimate expenses for our vacations, we are going to FL for a big 2 week vacation in 2014 and I am already saving for it now.

    Reply
  12. Karen Dawkins says

    April 12, 2012 at 9:02 pm

    Kathy,
    It's only day two of the new site — you're among the first to visit! Please spread the word about the site — I hope it's a benefit to vacationers (or vacationing-wannabes) everywhere!

    Great travel and budget are not mutually exclusive! 🙂

    Reply
  13. Kathy Radigan says

    April 12, 2012 at 7:39 pm

    Karen I love the idea of having a separate account for a travel fund! Great idea!! I didn't know you had a new site! I feel so out of the loop! Congratulations!!! I'm now following! Much love to you!

    Reply
  14. Anne @ Green Eggs and Moms says

    April 12, 2012 at 6:10 pm

    I did not think of opening an account just for traveling. That should make it easier to see how much you have. Great tips!

    Reply
  15. Karen Dawkins says

    April 12, 2012 at 4:22 pm

    Mommy J,
    Please follow along through this series. We'll cover expenses and decisions about every aspect of travel! 🙂

    If I leave a question unanswered, be sure to email me at familytravelsonabudget@gmail.com.

    Thanks!
    Karen

    Reply
  16. Karen Dawkins says

    April 12, 2012 at 4:21 pm

    Pamela,
    That's awesome. Isn't it rewarding to know the vacation is paid for without having to break the bank? Please let me know if you have any comments or suggestions to improve this blog.

    Karen

    Reply
  17. Mommy J says

    April 12, 2012 at 1:38 pm

    Thank you for ths post! I'm going to print it out and hand it at my desk as a reminder for our big trip next year

    Reply

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Meet Karen Dawkins

An avid traveler, I enjoy discovering new places: history, culture, and adventure. I love it all! Well, not bugs. I don’t like bugs very much, so I probably won’t visit a bug museum.

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