How To Easily Start, Save And Spend Your Travel Budget With Pool

Did you catch the travel bug? Whether you're dreaming of cobblestone streets or a beach with no WiFi, there's a better cure than scrolling through Pinterest boards. It's called a travel budget.

With a travel budget, you:

• Minimize stress and maximize fun because you're in control of your finances from start to finish
• Have enough money set aside for every trip expense, and can spend without worry or anxiety
• Protect funds in your checking or savings accounts and always have enough for other expenses back home like rent, car payments, groceries, etc.

Whether you're just researching flights or you've already booked your Airbnb, don't leave without a travel budget. You need it just as much as you need a phone charger or SPF.

But, what is a good travel budget? Which budget app is best? Keep reading to learn how to calculate your travel budget and stay within budget with Pool.

Travel budgets bring on the fun

Budgets and budget-friendly options tend to have a kill-joy connotation. Sure, budget-friendly deals save you money, but no one wants to feel like their budget is making them miss out on the fun.

“Budget-friendly" includes everything that fits your budget. You get to decide how splurgy or savvy you want to be.

When you create and spend your travel budget with Pool, you can reach your savings goals, stay within budget on your trip, and avoid financial stress while you're away.

What is a good travel budget?

A good travel budget covers the expenses of your trip. So, if you're asking yourself, "How much should I budget for travel expenses?" start with the biggest expenses. That usually includes:

• Airfare (don’t forget to include checked bag fees, seat selection, flight insurance, etc.)
• Lodging

Remember that airfare and accommodation prices vary greatly depending on where and when you travel. For example, trips to Southeast Asia are more affordable than getaways in the Maldives. And, you can score better deals during the off-season compared to the high season.

Once you know how much you need for major expenses, consider your non-negotiables, like:

• Visa or passport fees
• Transportation, like rental cars, public transport, bike rentals, etc.
• Immunizations

Finally, estimate how much you will likely spend on the following:

• Meals, drinks, or groceries (will you eat out or prepare most of your meals?)
• Sightseeing and excursion tickets or reservations
• Travel insurance (check to see if your credit card offers this)

How do you calculate your travel budget?

Calculating your travel budget might sound fun if spreadsheets are your happy place. But, if you're not a "numbers person," this can be daunting.

No matter who you are, this equation is all you need:

(Your savings) minus (your major/non-negotiable expenses) divided by (the number of days traveling) equals (your daily budget). Your daily budget is the amount you have for food and drink, sightseeing, and transportation. It's also flexible.

For example, if you know you will exceed your budget on the day you visit an amusement park, go on a free hike and enjoy a homemade lunch the next day.

Don’t forget to consider currency conversion if you’re traveling abroad and how that might impact your spending.

Is there a free budget app?

Are you looking for a free budget app for your travel budget? You've probably considered Rocket Money. It's a popular budgeting app with over 10 million users that syncs to different accounts, like checking and savings accounts, credit cards, loans, bills, and more.

It creates spending categories you can personalize and set limits for, then notifies you if you're approaching a limit to keep you within budget.

But, you're not looking for an app that tells you how much you spend after the fact. You want to take a more active role in your travel budget.

Rocket Money has another drawback. It tracks how much you're spending or saving across your bank accounts, but it doesn't provide a dedicated place to save and spend your travel budget separately. Your travel money has to mix with funds in your checking or savings accounts, making it hard to keep track of.

You can take a more active role in your travel budget and enjoy a dedicated place to save with Pool. Check it out at Poolmoney.com

Which budget app is best?

Pool is not a traditional budget app, but if you're looking for a dedicated place to build and spend your travel budget for free, Pool has your name on it.

What is Pool?

A Pool is a dedicated place to collect, manage, and spend money. It's free to sign up and free to use.

With Pool, you never have to upgrade to a premium membership to access more functions. You enjoy VIP treatment from the get-go, including a free Pool debit card.

We'll get to that soon. First, here's how to set up your Pool and grow and spend your travel budget.

How to set up your travel budget with Pool

Some people like to set aside a certain amount every week or month for a "someday" trip. When they're ready to plan their getaway, their savings determine where they can go and for how long.

Other people choose their destination and travel dates first and set savings goals second.

No matter which avenue you choose, Pool gives you the option to grow your travel budget exactly as you want. For example, you can collect money in one Pool if you're in the early stages of planning your getaway. Or, you can set up one Pool for each budget category, like "British Airways," "Notting Hill Airbnb," "London Food Market Fund," etc.

To get started, sign up at Poolmoney.com and verify your identity. It's quick, safe, and confidential, and you can have various Pools up and running in a few minutes.

How to increase your travel budget with Pool

Pool is a dedicated place to save for your trip. You can add money to your Pool without any fees.

If you're celebrating your birthday or the holidays before your trip, you can invite your friends and family to contribute to your Pool via email. Simply customize your Pool so they know what they're contributing to by creating a unique name, description, and photo of your choice.

People like Pool because it gives you a dedicated place to grow your travel budget separately from your checking or savings accounts. Once you add funds to your Pool, you won't accidentally spend them on anything else. They're safe and sound until you spend them with the Pool card.

How to manage your travel budget with other people

Are you traveling with your partner or splitting up trip expenses with your bestie? You can easily manage the travel budget together.

First, send them an invitation email. Once they sign up at Poolmoney.com, they can join the Pool and track Pool transactions and balances, spend with the Pool card, and more.

This takes the pressure off you to do all the pre-trip spending. For example, if your bestie drives past the store every day, they can pick things up for you. Having a collaborative travel budget keeps your trip relaxed, too. You don't have to keep wondering, Am I paying? Are they paying? — because your Pool is paying.

How to spend your travel budget with the Pool card

What sets Pool apart as a budget tool is that every Pool comes with a free digital debit card. If you want to carry the Pool card in your wallet, you can order a physical card, too.

With the Pool card, you can spend Pool funds directly without transferring them to your bank account. No matter where you are in the world, you can use your card wherever Visa is accepted.

The Pool card ensures greater peace of mind, too. If you accidentally lose your physical card or need to prevent further spending with the digital card, you can freeze it on Poolmoney.com. There's no need to call the bank, and the funds in your bank accounts stay safe.

How can I track my trip expenses?

Even if you're a budgeting pro, sticking to a budget while traveling is challenging. When you travel, you're out of your routine and probably spending more frequently than usual. It's easy for purchases to get lost in the shuffle.

Don't worry. You can check your Pool balance whenever you want at Poolmoney.com and view every transaction in your Pool. It's that easy. And if the Pool balance is getting low, you can easily add money.

Are you ready for your getaway? Make it happen with a travel budget. With Pool, you can save for each trip expense in a separate place and never mix them with your personal funds. You can manage your travel budget alone or with others. And you can spend your Pool funds all over the world.