Average Monthly Travel Costs
Whether you’re packing the kids into the minivan for a trip to grandma’s over summer vacation or planning a yearlong trip abroad, there are many factors that go into your travel costs.
It’s possible to travel the world on a budget, as proven by those who have done it. Here’s an estimate of what it might cost you per month:
Airfare
Airfare is one of the biggest travel expenses, and it’s been on the rise in recent years. This year’s high airfare prices prompting a number of people to change their vacation plans, either by choosing less-popular destinations or shortening the trip duration.
According to flight price tracker Hopper, it costs an average of $235 per round-trip domestic ticket to fly in 2022. However, savvy travelers can find bargains if they are flexible with their departure and return dates.
For example, booking flights on Tuesdays is cheaper than flying on weekends, and buying tickets about 70 days in advance offers the best deal. The cost of airfare spikes rapidly closer to the departure date, so plan accordingly. You can also save by purchasing travel insurance.
Lodging
Lodging is one of the most common expenses for travelers, with hotel rates ranging from high-end through budget options. Vacation rentals like Airbnb offer a cost-effective alternative to hotels for families, while hostels and bed and breakfasts are more economical for solo travelers.
Travelers can reduce lodging costs by booking trips outside of popular seasons, using credit cards that offer hotel loyalty programs and preparing meals instead of dining out during their stay. They may also save money on transportation by using public buses, trains or rideshare services to get around. Lastly, they can lower the cost of food by shopping at local grocery stores and eating at restaurants that offer lower prices. A strategic traveler can plan a low-budget trip for as little as $100 per day.
Food
Travelers also have to eat, and that can add up quickly. Food and entertainment expenses are one of the last components travelers often consider when drafting a vacation budget, but it’s essential to include them in your totals.
For Park, whose job as a foot-archery performer travels her around the world, food is the only expense she regularly spends more than half of her income on. She keeps her costs low by staying in friends’ homes, eating cheap local fare and avoiding alcohol.
On average, Americans spend $33 per day on food when traveling domestically, with about 80% of those dollars spent at restaurants. But even in cheaper countries, dining out can add up. Food stalls and street markets are a great place to find affordable options.
Entertainment
Travel costs varies widely based on when and where you go, as well as how you get there. Transportation costs can be a major component of your overall trip budget and you may have to consider how much it will cost for things like museum and theme park admission fees, as well as parking. Entertainment expenses also vary greatly, with some beaches offering free recreation and others charging for entry to amenities like beach chairs or umbrellas. It’s possible to save on some of these costs by planning strategically or by traveling as a group. (1) LearnVest. 2023. Accessed March 20, 2023.
Transportation
When creating a travel budget, it’s important to consider all aspects of the trip, including transportation. According to LearnVest, 44% of vacationing families’ total travel expenses are spent getting to and around their destinations.
This figure includes airfare, bus fares and train tickets. It also includes parking and tolls. The average American household spends $913 per month on transportation, which includes car payments, insurance and fuel.
Despite the high cost of gas, most families still take road trips. In fact, the most popular mode of transportation is driving a family vehicle, with 21% of Americans leaving town in their car. Trains are another popular option, but they can be more expensive than flying. They’re also much more time consuming. In urban areas, websites like Citymapper can help determine how much it will cost to get around.