How much does a trip really cost, and how much should you save before you go?
I'm Luca, Oslo's banknote, and I travel by paper plane. I've learned that a trip costs more than the ticket says, so here's how to build the full budget before you buy anything.
LucaYour accounts and everything that comes in.
Updated
The ticket is only the beginning
When we picture a trip, we picture the ticket price. But that number is only the first piece. Behind it come lodging, meals, getting around at your destination, tickets and tours, souvenirs, nights out, and what you pay before you even leave, like an extra bag or the ride to the airport.
The most common mistake is buying the ticket because it's on sale and finding out about everything else later, when there's no turning back. Add it all up before you buy anything: that way you know whether the trip fits your numbers or whether it's better to change the date, the destination or the number of days.
Step 1: add up everything, not just the ticket
List every part of the trip and give each one a budget: transport there and back, lodging per night times the number of nights, food per day times the days and the people, local transport, tickets and activities, and an allowance for treats and souvenirs.
Add a buffer for surprises: a pricier meal, an unexpected taxi, a pharmacy run. If you're traveling abroad, include the fees for paying in another currency. The total of that list is the real price of your trip, and it's the number you're going to save.
Steps 2 and 3: make it a goal and work out your weekly amount
With the total clear, turn it into a goal with a name and a date, like “Beach trip in December”. Whatever you save before you leave is what you won't owe afterwards. Watching the goal grow also makes it easier to say no to spending that takes you further from the trip.
To know how much to set aside, subtract what you already have from the total and divide what's left by the weeks remaining. If you're 1,000 short with 10 weeks to go, that's 100 a week. Set it aside on payday. In Oslo you can ask the assistant how much to save each week to get there on time (it comes with the Personal plan).
Step 4: come back with January in mind
If you pay part of the trip in installments, each one stacks on top of what's due afterwards: rent, utilities, your card and everything January brings. The trip ends, but the installments keep coming for months, sometimes with interest.
Before splitting a purchase into installments, check how your next months look with that payment on top. Ideally the trip is paid off before you leave, or the installments fit without squeezing you. Traveling light means coming home without a debt that follows you until March.
Frequently asked questions
How much money should I save for a trip?
The full cost of the trip, not just the ticket. Add round-trip transport, lodging per night, food per day and per person, local transport, tickets, treats and a buffer for surprises. That total, minus what you've already saved, is what you need to put aside. Divide it by the weeks left and you have your weekly amount.
Is it a good idea to pay for a trip in installments on a credit card?
It depends on whether the installments fit in the months that follow. Each one adds to what's already due, like rent or utilities, and it often carries interest. Before you split the cost, check how January looks with that payment on top. If it doesn't fit comfortably, save for longer, shorten the trip or pick a closer destination.
How far in advance should I start saving for a holiday trip?
As early as you can, because the more weeks you have, the smaller the weekly amount. Work backwards: divide what you still need by the weeks left until the trip. If the result doesn't fit in your month, move the date, trim the budget or look for cheaper options before you buy the ticket.
This is financial education, not advice: Oslo doesn't recommend loans or investments. Decisions about your money are yours.
