How Much Spending Money Do You Need?

One of the most commonly asked questions I receive would be asking how much spending money should one person take, whether they’re going for a city break or flying to the other side of the world for a month long vacation. The simple answer is that one size doesn’t fit all - there are a lot of factors that need to be taken into consideration such as whether your accommodation has been paid for, the attractions you’ll be visiting as well as whether the country is known to be expensive or inexpensive. 

General Information
Before buying any sort of currency it would be advisable to do your research into the places you’ll be visiting and whether they’re notoriously known for being expensive or more hopefully inexpensive. For example, when I travelled to Poland I had brought 500zł to which I returned with 200zł as the prices there had been incredibly inexpensive even though I had splurged on meals as well as gifts for family and friends. If you simply type in “Is ____ expensive?” then you’ll get a rough idea of what travellers have spent regarding food, drinks, activities as well as the price range of specific items which should hopefully begin to give you an idea of how much to take. 

Accommodation
If you’ve already prebooked and paid in full for your accommodation then this segment won’t apply to you. If you’ve chosen the option to pay for your accommodation upon arrival then the first thing to do would be to create a separate bank account to store the money to pay for this in - mainly as it will mean that the money will stay there without the option for it to be spent. It’s also important to remember that some debit and credit card companies will charge a foreign transaction fee - which is around 2-3% of the total purchase. From the moment you reserve your accommodation I’d begin to save and make a plan of how much you will need as well as seeing what your accommodation includes. 

Food and Drink
Before I travel anywhere I make sure that I’ve scouted out the local restaurants, cafes and bars in the local area. The reason for this being that I would be able to see how much the food and drink near my accommodation would cost - from there I could make an estimate of how much I would be spending per meal, per day. If you’ve got your breakfast included with your room rate for your accommodation then you will only need to focus on lunch, dinner and extra snacks. When I travelled to Amsterdam I knew that dinner would set me back around €20 whereas lunch would only set me back €10 as well as snacks per day only costing €3. From there I worked out that I should budget just over €30 per day for food and as I was there for three days it meant I budgeted around €90. This allows me to give me leeway as if I spend over then it’s accounted for as well as if I spend under this amount it allowed me to bring money back home to exchange. 

Activities
Personally I prefer to book as many activities as I can before travelling, the main reason being that it allows me to simply turn up and enjoy the attraction or tour. However, in some circumstances such as free walking tours - the only way I can tip these tours is by attending the tour and then tipping afterwards using the local currency. I tip at least €10-20 per tour, even if it’s stated that it’s a “free” walking tour - more information regarding these tours can be found by clicking here. If you’ve already booked up your activities then keep extra money spare in case you visit a gift shop from the museum or landmark - you never know what they may sell and what may catch your eye. 

Shopping
If on holiday you buy more than the odd souvenir and go full out in the local shops and any shopping centres then make sure that your wallet can cope. For example, in New York I knew that there were two main shopping centres and hundreds of shops that I wanted to go in which allowed me to budget around $50 to $70 to fund my shopping habit - some days I spent around this amount and some days I spent a lot less than I had planned. Either way, I had to keep in consideration that I had a weight limit for both suitcases, which I went over slightly but luckily never got charged. 

Transport
Transport can either be one of the most expensive areas when travelling simply because a taxi here and there will soon add up. Hundreds upon hundreds of cities such as London, New York, Barcelona and Paris have extensive methods of public transport which are very inexpensive and convenient. If you plan to use public transport then see whether it’s worth investing into a transport card or pass that allows you to use public transportation cheaply around the city you’re in. If you do want to use taxis then research beforehand what a journey will cost you, for example from one landmark to another, which not only allows you to have a rough idea of how much money to bring but prevents you from being scammed. Additionally, make sure that you know what taxi’s look like, it sounds stupid, but you wouldn’t want to get into an unmarked taxi as there’s a risk of your safety being breached as well as your wallet. 


Spending Money for Amsterdam 2020:
As I’m travelling back to Amsterdam next year I already have a budget in mind which has allowed me to purchase euros here and there to save up for the trip. As I’m there for three nights but four days I budgeted that I will need around €200 - I always bring extra in case of an emergency or I see something I’d like to buy and splurge on. 

• General Information - As I’ve been to Amsterdam before I know that lunch will cost me around €5 whereas dinner could cost anywhere between €10 and €20. The city centre of Amsterdam is very expensive but as my hotel is located on the outskirts of the city it’s most likely that restaurants will be a lot cheaper and you’ll get a lot more for your money. 
  
• Accommodation - As I’ve already prebooked my accommodation in full, which cost me £150, as I’ve reserved two rooms for myself and two other family members. Within the price of the hotel breakfast is included - which reduces the cost of food and drink dramatically as I will be saving on breakfast and lunch. As my accommodation is located within walking distance of all major landmarks and attractions, it will reduce the amount spent on transportation.   
  
• Food and Drink - As mentioned before as I’ve already been to Amsterdam and I’ve got breakfast included within the room rate - it only leaves lunch, dinner and snacks. I’ve got all the bases covered here as I’ll be returning to some of my favourite restaurants as well as making a reservation for the Hard Rock Cafe. I expect to spend around €30 per day on food and drinks - as we will be splitting the bill between three of us as well as all of us not buying alcoholic beverages. 
  
• Activities - Amsterdam has so much to see and do, which is why an itinerary is important, to which I’ve already made. People may say I’m jumping the gun but it’s allowed me to see what activities I’ll be doing and what landmarks and attractions I’ll be seeing. 80% of the activities I’ve booked up have already been paid for or will be purchased soon, such as the Ice Bar, The Anne Frank Museum and The Royal Palace of Amsterdam. Places such as Bloemenmarkt and Vondelpark are completely free and offer some of the best views of what Amsterdam has to offer. 
  
• Shopping - I love Amsterdam but not so much so that I’ll be buying souvenirs again, which saves me a little bit of money. Even though Amsterdam has many well-known shops such as Primark, C&A and Flying Tiger I know that I won’t be buying anything as I can visit most of these shops back home. With the amount of activities I have planned there will be barely any room to go shopping. Either way with Christmas coming up, there are beautiful shops within Amsterdam that offer lovely items that can be used as presents. 
  
• Transport - Getting from Amsterdam Airport Schiphol to my hotel is around 20 minutes by taxi, an hour by train or 30 minutes on a bus that costs less than €5 for a one-way journey. The obvious contender here would be the taxi but I prefer public transport as it’s cheaper and at the same time saving the environment. As our hotel is within walking distance of everything we want to see and visit in Amsterdam we will not be purchasing public transport tickets. 
  

Total:

• Accommodation: €0 (It’s been paid in full beforehand)
  
• Food & Drink: €120 
  
• Activities: €30
  
• Shopping: €20
  
• Transport: €10