Budgeting effectively

Having some uncertainty over your monthly budgets can be difficult to plan for. I've put together some thoughts on how you can best combat this.

Is this not the same as booking for a holiday?!

Know how much you want to spend and over budget.

Set a realistic budget, considering both flights and accommodations. Despite the best planning, unexpected costs always crop up unexpectedly.

Budget for a worst case scenario.

Booking for a month makes everything easier. Coworking spaces, gyms and general groceries are all a lot easier (and cheaper) to budget for when booking for one month+ periods. You don’t want to be paying for a litre of olive oil every 10 days in a new location.

Book everything ahead with a credit card.

Getting a credit card with a substantial interest-free limit was one of my best decisions. Booking flights in advance and securing top-value apartments can save thousands annually. Pay off the balance monthly, treating it like a routine rent payment.

Travel light & pack ruthlessly.

Paying to check in baggage rapidly racks up the costs if travelling across Europe. A Ryanair £20 flight can soon be £100 with a last minute large suitcase added on. Be extra harsh in what you opt top pack and with the money saved, buy whatever you need on the ground.

Have a travel friendly debit card.

If for whatever reason you don’t have a Monzo, Revolut or Starling account, set at least one of these up to give yourself as much flexibility for when you need to withdraw local cash. Whilst this is increasingly rare, it's an expense you can easily mitigate against.

Get insurance to mitigate any unforeseen costs.

A regular monthly sum is a lot easier to manage than a several thousand pound unforeseen medical bill. Add it as a fixed cost to your credit card budget which you pay off on a monthly basis. ‍

Negotiate with airbnbs If you feel there is some room for negotiation in a price, try negotiating on price. I have done it on several occasions with a few successes. Be polite and courteous in your offers. If you can see there is a price break for a month, but you are only there for two weeks, see if that is something they would consider as you know it is a nightly rate they are comfortable with.

Get a local SIM.

Unless you've got a contract which enables you to roam without charges, pick up a local SIM for the best rates on data. eSIMs are great for certain countries but they are almost always going to be more expensive.