• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Prosper Blog

Personal Loans Home Equity Line of Credit (HELOC)
  • Blog Home
  • Company News
  • Investor Updates
  • Product Announcements
  • Financial Wellness
  • HELOC

Seven Tips for Sticking to Your Budget While Traveling

August 29, 2018 by Sarah Cain

budget while traveling, Prosper Blog

With the end of summer right around the corner, you might be thinking of squeezing in one last getaway. Whether you’re embarking on an old-school road trip or an international expedition, sticking to your budget while traveling is always important.

You’ve worked hard to save money for your travels and have carefully drawn up a budget for the trip—and it’s 100% possible to have a great time without veering off the path toward your financial goals. Check out our seven best tips for sticking to your budget while traveling.

  1. Track your spending. Use an app, pencil and paper, or spreadsheet—whatever works best for you. The key is to monitor your money throughout the trip to make sure you’re staying within your budget. Consistent tracking can help prevent overspending. Plus, you’ll know if you have any extra funds available to splurge on a special meal or other treat.
  2. Consider switching to cash. Using cash can make it easier to manage your expenses. Try giving yourself a daily allowance. Put the day’s cash allotment in your wallet, and when it’s gone, you’ll know you’ve hit your limit. If you’re outside the US, experts recommend using a local ATM to get cash because you’ll likely get a better exchange rate than from a traditional money-changing service.
  3. Be smart about meals. Eating out will probably be one of your biggest expenses while traveling. Consider alternative lodging options, like renting a home or apartment, which will allow you to cook money-saving meals for yourself. Our previous guide to affordable travel has several great tips about vacation rental websites, including Airbnb and VRBO. If you’re staying in a traditional hotel, it may be best to avoid the hotel restaurant, as it is likely among the more expensive places to grab a meal.You can also keep your budget in order by planning ahead for snacks. Visit a local grocery store to stock up on affordable bites so you won’t have to waste money on an expensive, unplanned meal when hunger strikes. You may also want to purchase supplies to host your own happy hour at your lodging to cut back on pricey bar tabs.
  4. Set realistic expectations. While it’s great to have a detailed budget, it’s important that it also be realistic. Be sure to leave room for purchasing a few souvenirs or having dinner at a special restaurant. That way, you’ll be able to enjoy your travels without any guilt.Bonus tip: Before you start loading up on souvenirs, think about your luggage. If you flew to your destination, going home with an overweight or oversize bag can lead to extra expenses.
  5. Try public transportation or walking. There are several perks to these methods of getting around. As long as it’s safe, they can be great ways to avoid traffic jams and explore like a local. Plus, these options are generally much cheaper than taking a taxi or ride-share service.
  6. Skip the tourist traps. While it might be fun to go see famous landmarks and popular neighborhoods, these “tourist-y” areas probably aren’t the most economical choices for having lunch or grabbing a souvenir. When you hop off the cruise ship, for example, try wandering a few blocks past the port to see where the locals eat. Chances are, you’ll find better food and save money while you’re at it.
  7. Look for free events. When it comes to entertainment, prioritizing free events can help keep your budget on track. Find out what’s going on in your area by checking out relevant social media pages and websites, or even asking your vacation rental host for recommendations.If you do want to attend a ticketed event, like a sports game or musical performance, it may be cheaper to buy tickets in advance directly from the vendor instead of using the services of a hotel concierge or other third party. Some cities have great options for discounted last-minute tickets, such as TKTS for theater productions in New York City.

Already dreaming about next year’s vacation? Find out if consolidating your high-interest rate debt with a personal loan could free up extra funds to put toward a memorable trip. Get started by reading our recent guide to simplifying your life with debt consolidation.

Share this post:

Share on Facebook Share on Twitter Share on Reddit Share on Pinterest Share on LinkedIn Share on Email

Financial Wellness, Prosper Blog

Primary Sidebar

Connect with us

Facebook Twitter LinkedIn

For press releases and media inquiries: Prosper in the News or [email protected]

Categories

  • Blog Home
  • Company News
  • Investor Updates
  • Product Announcements
  • Financial Wellness
  • HELOC

Recent Posts

  • What the Extended Tax Deadline Means for You
  • Paying for Childcare and Receiving Childcare Assistance — What to Know
  • How to Apply for a HELOC Online, Plus 5 Benefits of an Online HELOC
  • Saving vs. Investing: What’s the Difference?
  • 13 Ways to Save Money on a Tight Budget

Prosper LoansFollow

Prosper Loans
ProsperLoansProsper Loans@ProsperLoans·
4h

The IRS has extended the federal tax deadline this year, providing more #pandemicrelief to millions of Americans. What does that #extendedtaxdeadline mean for you?

Reply on Twitter 1382694699446767624Retweet on Twitter 1382694699446767624Like on Twitter 13826946994467676241Twitter 1382694699446767624
Load More...
  • Financial Wellness
    Using a HELOC to Pay Off Your Mortgage

    Taking out a HELOC to pay off your mortgage is a common practice among many...

  • Financial Wellness, Prosper Blog
    Medical Bill Debt: What Happens If You Don’t Pay Medical Bills?

    Even before COVID, expensive healthcare costs had many Americans wondering...

  • Financial Wellness, Prosper Blog
    What Is a HELOC and How Does It Work?

    As a homeowner, you may be wondering: What is a HELOC? Find out everything...

  • Financial Wellness, Prosper Blog
    Emergency Loans With No Job: Options for the Unemployed

    While the unemployment rate in June showed a decline to 11.1%, that ra...

  • Company News, Investor Updates, Prosper Blog
    Quarterly Investor Update – Q1 2021

    As we progress into 2021, we would like to provide our investor community a...

Footer

  • Borrow
  • Invest
  • About Us
  • Press
  • Blog
  • Careers
  • Help Center
  • Contact Us
  • Legal
  • Prospectus
  • Financial Professionals
  • Developers

Prosper and WebBank take your privacy seriously. Please see Prosper's Privacy Policy and WebBank's Privacy Policy for more details. Prosper makes no representations as to the accuracy or completeness of any information provided on this Blog, which is intended for discussion purposes only. Opinions expressed in articles posted to this blog are the author’s own and may not reflect the opinions of Prosper. All personal loans made by WebBank, Member FDIC.

Prosper’s Notes are offered by Prospectus filed with the SEC. Notes are dependent for payment on unsecured loans made to individual borrowers. Notes are not guaranteed or FDIC insured, and investors may lose some or all of the principal invested. Prosper does not verify all information provided by borrowers in listings. Investors should review the Prospectus and carefully consider these and other risks and uncertainties before investing. None of the information provided on this Blog is intended to be investment advice.

Prosper Marketplace, Inc. NMLS#111473 (http://www.nmlsconsumeraccess.org)
All HELOCs are underwritten and issued by our banking partners. Refer to www.prosper.com/heloc for more information. Links to third party sites are provided for your convenience and do not constitute an endorsement.

Equal Housing Lender

© 2005-2021 Prosper Funding LLC. All rights reserved.

Copyright © 2021 · Genesis Sample on Genesis Framework · WordPress · Log in

Go to mobile version