The Joys of Budgeting

On Friday I'm flying south for a week in Belize and Guatemala.  It was a last minute decision and because I still have other plans on the books for 2013, it's important that I stick to a reasonable budget for the trip.

Trip Highlights:

• Trip length: 10 days
• Flights: UA J Class return flights YYZ-IAH-BZE
• Tour: 8-day Land of Belize with Intrepid Travel

I'm usually all for taking the independent path, but life kept me busy through September and left little planning time.  Hence the tour, which conveniently left on exactly the day I needed to it.

The budget I set for the trip was $2,000 CAD.  I set this budget before I began serious planning, however I often adjust if I find a valid reason to do so.  I also allowed a 25% overflow before I was going to get anxious.  Thus my upper limited was $2,500 CAD all-in.

When I first started travelling I was a student in university.  I remember an early trip to Europe for six weeks where I tried hard to stick to that $100 per day maximum.  It was tough at times but do-able.  Today I would say I'm lazier and while I can travel on that amount I don't usually choose to.  This is an important point I want to make:

Know your travel style.

Regardless of the trip, the amount you'll spend isn't inconsequential.  Don't spend those important days worrying about your choices monetarily.  Spend them living your dreams!

Three Suggestions:

• Book your transportation and accommodations in advance, in possible.  This allows you control over how much you spend in these areas, and usually the best deals are found in advance rather than onsite.
• Identify in advance the key sites you absolutely need to see.  Confirm the costs of entry for these sites in advance (most major sites have websites, otherwise search forums such as Lonely Planet's ThornTree).  Balance the costs of these with other sites that are less expensive.  
• Know what makes you happy and even if it costs a bit more, don't cut it out entirely.  For example, a major cost associated with most trips is accommodation.  You may not have the funds to stay in all five star hotels, but selecting a good one in the middle or end of your trip leaves something desirable to look forward to.

Following my own advice, I identified the key sites I wanted to see (snorkeling off the coast and visiting the ruins near Tikal in Guatemala).  I then found a tour that covered these, booked extra nights hotel and found a flight I could live with.  The resulting costs amounted to:

• Flights: $868 CAD - not bad for J class, eh?!
• Tour: $963 CAD - last minute rate with Intrepid
• 1 night extra hotel in Belize City - $80 USD
• 1 night layover hotel in Houston - $110 USD

The total currently sits in a good range for my budget, with incidentals pushing it towards my cap.  I'm happy with this.

At the end of the day the trip is what you make of it, so do what it takes for you to enjoy yourself.  Don't spend your entire trip looking at your budget, have back-up funds prepared in case plans go awry, and when that fails, call and beg your parents for a loan.  It's not always possible to stick to your budget, but it is always important to try.

Good luck, and for more suggestions check out a recent post by Frugal Travel Guy.