The task about planning a travel budget: You are planning a vacation this summer. This vacation can be with your family, with your friends or a solo trip.
However, your parents are sick and tired of you going over their limit on their credit card! You will need to prepare a detailed budget to convince them to allow you to go on this trip.
Part 1: Revenue
How much money can you reasonably expect to get from your parents for this trip?
Or, if you are planning a family vacation, how much are your parents reasonably willing to spend on a family vacation over the summer.
Is anyone else coming on your trip and planning on contributing for the trip?
This is NOT an unlimited budget. The figures must be reasonable. If you are planning a trip for you and your friends, you can budget just for your part.
TIP: Revenue must be present and it must be a realistic figure.
Part 2: Itinerary and expenditures
Now, it is time to start thinking about your itinerary.
Create a detailed itinerary including dates and activities for your trip. Answer the following questions to help you with that.
Where do you plan on going?
How do you plan on getting there?
What do you plan on doing while you are there and how much will it cost?
TIP: The itinerary of the trip must be clear and detailed.
In your budget you need to include specific costs associated with these things which means you will need to do some research. You should have at least 15 different costs associated with your trip in your budget. Explain each of the costs and how you came up with the number.
If you found flights on United Airlines, then write down the website you found the flights on and the price of the tickets. If you found a tour on Viator.com, jot it down what the tour is called and how much it costs for your dates. If you found general food costs on Tripadvisor.com, then remember it as well.
TIP: All of the costs must be accounted for with the specific number and explanation of how you came up with them.
Part 3: Projected budget variance
The following two questions must be answered with detailed reasoning in order to come up with possible variances:
What areas do you expect to see the greatest variance between what you have budgeted and what you think you will spend and why?
Do you think you over or underestimated your costs and why?
Part 4: Format and presentation of your travel budget
Create a document in which the budget is formatted well and all of the information is well organized and presented in a nice way.
TIP: Your budget must be formatted well. Information must be presented in a well-organized and a nice way.
Enjoy your summer vacation!
