Four months ago, I traveled to Colombia with an expired ATM card. Although I had planned my trip, considering where I would go, for how long, and how much I would spend, I just didn’t bother to look at my card’s expiration date.

With just a hundred bucks on me, I managed to get money wired, but the mishap taught me a great lesson: there is far more that goes into planning a trip than meets the eye. Having access to cash is absolutely important, but knowing how much you can spend can also make your trip that much smoother.

Responsible travelers plan their trip and their finances before they even board the plane. Constructing a realistic travel budget will keep you from overspending, but it will also allow you to enjoy your time on the road. Now more than ever, with the fluctuating value of the dollar, it is important (and practically necessary) to establish a budget before you leave for a trip.

Here is a list of questions you should answer to get you started:

How much are you willing to spend per day? — This will establish a ballpark budget for your trip and, if you know how long your trip will be, it will also tell you how much you can spend. Know how much money you want left in your bank account when all is said and done. Read More »