How much money should you save before traveling?

Many people set aside 5-10% of their net yearly income for leisure travel, but this can vary greatly based on the type of vacations they're planning. Another popular budgeting option is the 50/30/20 rule: 50% of net income is spent on things you need. 30% of net income is spent on things you want.



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The average person will spend about $1800-$2500 on a one week vacation. That's estimating $210-$310 a day for hotel and food, and just under $400 for airfare. That doesn't include car expenses or attraction tickets and tours. And be sure to read my best tips for how to save for vacation!

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It all depends on where you're going and what you plan to do during your trip. As you can see from our travel costs table above, some European cities are cheaper or more expensive than others. As a general rule, though, it's a good idea to budget at least $100 a day for your vacation.

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These are the tips we found that helped us to save most money for travel and follow our dreams.
  1. Don't Travel on Borrowed Money. ...
  2. Create a Travel Budget. ...
  3. Set up an Automatic Travel Fund Saving Account. ...
  4. Track Spending. ...
  5. Pay off Your Credit Cards. ...
  6. Get a Rewards Credit Card. ...
  7. Change Your Living Situation. ...
  8. Sell Your Things.


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On average, it's a good idea to put aside enough for £135 of currency in the UK each day but your budget will ultimately depend on how you like to travel (for example, budget or luxury) as well as how long you'll be away for.

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So, how much money do you really need for 3 weeks in Europe? While it varies depending on your travel style and destination, a budget of around $2,000 - $5,000 USD should cover your expenses. Of course, this is just a rough estimate - the more you can save, the better!

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This is so entirely dependent on your own travel preferences that it's tough to estimate but we recommend putting aside roughly €700 to €1700 for spending money for one week in Europe.

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While your exact expenses depend on a lot of factors, here is the short answer to the question: how much do I need to budget for backpacking Europe? Backpackers should expect to spend between $40 – $70 USD/day in Eastern Europe, $70 – $100/day in Western Europe, and $150 – $200/day in the Nordic countries.

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Backpackers should expect to spend between $40 – $70 USD/day in Eastern Europe, $70 – $100/day in Western Europe, and $150 – $200/day in the Nordic countries.

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Be it a backpacking escapade, a romantic getaway, or a family vacation, spending 15 days in Europe are more than enough to fall in love with this continent, the locals, the natural wonders, and the food.

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