Solo Travel 101 - Part 2: How to Set Your Trip Budget

_{This is part two of our 6 part “Solo Travel Planning 101: A Step-by-Step Guide”.} 

_{In this series, you’ll learn how to pick the perfect destination, apps that will help you travel easier and safer, how to pack smart, prep mentally and emotionally, and create a flexible itinerary that leaves room for adventure. Whether you're a planner or a fly-by-the-seat-of-your-backpack kind of person, you’ll walk away with everything you need to feel ready—and excited—for your first solo trip.}

_{If you missed it - Part one “ Choose the Right Destination” is the best place to start.}

Let’s talk money. Not the sexy part of travel planning, I know—but unless you’ve got a trust fund or recently found a winning lottery ticket in your jeans pocket, budgeting is non-negotiable. The goal? Spend smart, not sad. Here's how to get real with your finances before you start booking flights like you’re Beyoncé on tour.

1. Breakdown of Typical Travel Costs

You don’t need a finance degree to plan a travel budget, but it helps to know where your money’s going. Here’s the usual breakdown of what you’ll be shelling out for:

• Flights: The big-ticket item. This can make or break your budget, especially if you’re flying last-minute or during peak times (looking at you, Christmas week).
  
  
• Accommodation: From hostels to luxury resorts to that slightly out your price range but gorgeous Airbnb—this adds up. Pro tip: solo travelers pay per room, not per person, so plan accordingly. If you are booking a cruise or package vacation you will be paying double the published “PP’ rate.
  
  
• Food: Whether you're dining at a Michelin-star spot or inhaling street food, you’ll need fuel. And snacks. Always budget extra for snacks.
  
  
• Transportation: Think trains, buses, scooters, and the occasional “oops, I Ubered again.”
  
  
• Activities & Tours: Museums, guided hikes, cooking classes, kayaking with bioluminescent plankton—whatever floats your solo-travel boat.
  
  
• Travel Insurance: Not optional. It’s like an invisibility cloak for disaster. Get it.
  
  
• Emergency Fund: For when you accidentally buy 14 scarves at a bazaar or get surprise-charged a “tourist tax” you swear wasn't on the sign.
  
  

Create rough daily estimates for each category, then add 15% because life is full of surprises and overpriced gelato.

2. Budgeting Tools or Apps

Luckily, you don’t need to scribble numbers on napkins or make Excel your personality. There are some great tools to keep your budget on track (and your anxiety levels low):

• Tripcoin– Made for travellers, this app tracks your daily spending by category and in multiple currencies. It’s like a little accountant in your pocket.
  
  
• TravelSpend – Great for tracking expenses in real-time, especially if you're hopping between countries.
  
  
• Mint – Not travel-specific, but if you want a big-picture view of your overall finances (aka “Can I actually afford Bali this year?”), Mint’s got your back.
  
  
• Splitwise – Traveling part-time with others? This app helps you split costs without doing weird napkin math or silently stewing over who owes what.
  
  

Whatever you use, the key is to actually check it. Don’t set a budget and then ghost it like a bad Hinge date.

3. Tips for Saving Money as a Solo Traveller

Being solo means you don’t have someone to split the cost of a hotel room or a massive plate of pasta—but it does mean full control over your budget (and no one to judge your lunch of convenience store sushi). Here’s how to stretch your money further than your patience in an airport security line:

• Travel in the shoulder season – Fewer crowds, lower prices, and better photos without someone’s head in the frame.
• Choose a destination where your money goes further - You can live like a queen for a week in the Philippines for the same as you would spend as a budget traveller in Switzerland.
  
• Stay in hostels or guesthouses – Many offer private rooms if you’re over the bunk bed life. Bonus: instant travel friends.
  

Use public transportation – Taxis are great, but buses and trains are character-building. And affordable.

• Book group tours as a solo traveller – You’ll often pay less than going private, plus you might meet fellow cool weirdos like yourself.
  
• Skip a Meal (Sort Of) - Okay, not really skip it—just get creative. When I travel solo with my kids, we’re rarely up early enough to make it to breakfast out. So instead of dragging everyone out half-asleep or shelling out for a meal no one’s hungry for, we keep it simple: fruit, pastries, and maybe some yogurt in the room. Even if the hotel doesn’t have a fridge or kitchenette, a quick trip to the local grocery store does the trick.
• If you’re someone who loves a leisurely breakfast at a café but dreads eating dinner alone, flip it: enjoy your morning meal out, then grab a few picnic-style dinner items to take back to your room later. It’s budget-friendly, low-pressure, and honestly, browsing local grocery stores is one of the most underrated ways to experience a new place. 

• Cook occasionally – Speaking of the grocery stores - if you do have a small kitchen area, then hitting up local markets and cooking a meal saves money and lets you pretend you live there. Fancy yourself a Parisian? Voilà.  
  
• Look for city passes – Museums, transit, discounts—all bundled up like a touristy gift basket.  But they are only a bargain if you are going to use them enough.  So make sure they make sense before shelling out for a package deal.
  
  

Remember: saving money doesn’t mean cutting joy. It means being strategic so you can splurge on the stuff that really matters—like that sunset cruise or the best gelato of your life.

Next up: Part three of the series is “Book it Baby! (and why earlier is better for solo travel)” 

Solo Traveller tips on what to book, where and when to book it and tips to make it safer and leave room for spontaneity.