9/1/2023 0 Comments Road trip budget calculator![]() Experts recommend traveling with a few quarters just in case you have no access to a cell signal and need to use a toll phone. “The average fast-food price of a meal per person is currently $6.50 and for higher quality food, you’re looking at $13 per person per meal.” Budgeting for the Unexpected When on the Roadįrom car breakdowns to being stuck in the middle of nowhere with no signal, there’s the potential for a lot to go wrong during a road trip. “On the other hand, if you plan to eat out, things will be substantially more expensive,” Davis said. “On average, it costs about $4 per person per meal when doing the cooking yourself.”īy using this cost estimate, you can get ahead on planning by multiplying $4 by the number of times a day you will be making meals at home, and multiplying that number by the number of days the trip will be. “If traveling via RV or camping with cooking equipment, you’ll save a substantial amount by cooking your own meals as opposed to eating out,” Davis said. Budgeting for Foodįollowing gas costs, food will likely be the next most expensive factor to budget for when planning a road trip. While this may seem like a bit of an overestimate at this point in time, with AAA indicating current average national gas prices are about $3.70 per gallon, it’s wise to have some padding built into any budget. ![]() ![]() “Divide the round trip mileage by your car’s fuel economy and multiply by the average fuel price. “Finally, grab a calculator and do some quick number crunching,” Davis said. This will allow you to get an idea of the rate at which your car burns gas compared to the miles the car has been traveling. The next step of the process entails getting inside the car you will be using for the road trip and checking the average fuel consumption of the vehicle. In order to estimate how much gas will cost for your trip, there is a simple four-step process you can follow to streamline your budget planning.Īccording to Davis, the next step of the process is using a travel website, such as AAA, to get an estimate of the price per gallon of gas in the states you will be traveling through. One of the largest chunks of your road trip budget is going to be gas costs. Additionally, you might need to consider hotel, motel or RV expenditures. In order to put together an estimate of how much money to put aside for the trip, it is important to consider all the factors you need to integrate, starting with food and fuel costs. From there, you can go about figuring out how much to budget for the trip and what factors to consider. When budgeting for a road trip, the most important factor to establish is where you want to go. Take Our Poll: Would You Move for a Job That Paid You a $10,000 Signing Bonus? What Should Be at the Forefront of a Road Trip Budget? Broken down even further, this budget per day would look like $20 for snacks, $30 for gas and $100 for hotel costs, according to Kroeger. If you’re not planning on taking a long road trip, a good rule of thumb is to budget about $150 per day. “This will ensure that you have enough money to cover all your expenses and have some leftover in the budget for souvenirs.” “In general, people should budget around $1,000 for a long road trip,” said Kyle Kroeger, the founder and CEO of the travel website ViaTravelers. If you are traveling one state over, you might not need to budget as much money, but if you are crossing through five states, you may need to do more planning to set aside a greater sum of money. The answer depends on how far you are traveling on the trip. I’m a Self-Made Millionaire: These Are the 6 Investments Everyone Should Make During an Economic Downturnįind: How To Build a Financial Plan From Zero How Much Money Should You Spend on a Road Trip? ![]() In order to leave room in the budget for road trip snacks and ease anxiety, let’s learn from some experts how to best prepare and budget for excursions in the car. Road trips are often a much cheaper option compared to flying however, the expenses can add up quickly with all the costs of motels, gas and food. ![]()
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