Trip Cost (2024)

FAQs

How much money is enough for a trip? ›

Deciding where to go and what to pack is stressful enough, let alone trying to determine how much money you need to bring. The general consensus is that you should have $50 to $100 in cash per day for each traveler.

Trip cost includes the total non-refundable and pre-paid trip expenses that are purchased for a vacation. Examples of trip cost include airline tickets, lodging deposits, excursion deposits, etc.

Look into the cost of lodging, vehicle rentals, fuel costs, flight costs, and any other expenses you may incur. Gather all of your costs together and keep them organized so you can plan for expenses and calculate your costs. You can also use a formula to figure out your fuel costs if you're driving to your destination.

The average cost of a vacation for a single person in the U.S. is $1,984 and $3,969 for a couple. If you're traveling in a group of four, you can expect to pay upwards of $7,936 and up to $11,904 for a group of six.

You should have roughly $50 to $100 per person every day of your trip.

Budget Travel Tips for Weekend Getaways

According to Budget Your Trip, the average daily cost of a vacation for just one person comes to about $224. This means that a 2-day vacation would cost $448, a 3-day vacation would cost $672, and a longer 4-day vacation would cost $896.

To create a realistic budget based on your destination and activities, research transportation expenses, food and lodging costs, and prices of attractions you want to visit. Once you know the bottom line, start looking for ways to reduce expenses.

Transportation services such as taxis, buses, or trains to the airport or to and around the travel destination. The cost of meals and tips, dry cleaning service for clothes, and the cost of business calls during business travel. The cost of computer rental and other communications devices while on the business trip1.

The average cost of a one-week vacation in the U.S. for one person is $1,991. Many Americans, keeping in mind the cost of traveling, plan to take various measures to reduce how much they're spending on such expenses as travel and accommodations.

How do you calculate trip costs? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

Using this framework, you can decide what portion of that 30% of discretionary spending you want to set aside for travel. The average cost of a domestic vacation in 2023 was estimated at $283 per person per day, a total of $1,584 per person for a weeklong trip, by BudgetYourTrip.com, a travel expense website.

Make a Budget for Your Trip

If you are going all cash or even part cash then creating a budget is key. As a rough estimation, budget $50-100 per person for each day that you will be away.

On a $5,000 budget, you'll be able to spend a week at a nice all-inclusive resort while still having extra cash for airfare and day trips.