How much spending money do you need for a weeks holiday?
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.
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The 75/15/10 method involves allocating 75% of your earnings for spending, 15% for investing, and 10% for saving, prioritizing building wealth through investments rather than relying on savings.
For budget travelers, you can expect to spend around $50 to $70 per day in Spain, while mid-range travelers can expect to spend around $100 to $150 per day. It's important to plan ahead and research activities and costs to create a budget that works for you.
Budget-Friendly Travel PlanningPast travelers have spent, on average, €40 ($43) on meals for one day and €30 ($32) on local transportation. Also, the average hotel price in Greece for a couple is €148 ($159). So, a trip to Greece for two people for one week costs on average €2,173 ($2,330).
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.
Yeah, comfortably! $5000 is not a low budget for a month, even for the most expensive countries of Europe. Since, you mentioned you would like to travel on a low budget, I assume you would be comfortable living in hostels/budget hotels and Airbnbs, if yes then this budget is sufficient.
To sum up, living in London is around 21% more expensive, than living in Paris. Yet, taking into consideration the average salary, it is also higher in London than in Paris. The average monthly net salary (after-tax) amounts to 2,144.30 € (1,852.37 £) in Paris, and 2,591.28 € (2,238.50 £) in London.