Going on a vacation with your friends is a blast, but the math of splitting expenses can be a headache. Get an expense calculator or divvy things up before paying to keep it even.
Exploring the world with some of your best friends creates memories that’ll last a lifetime, but calculating vacation expenses is never anyone’s idea of fun. Luckily, certain programs and computer or smartphone applications can be a huge help for managing your money efficiently and giving you more time to enjoy your vacation without stressing the prices. Creating a vacation budget that everyone has access to, either on a spreadsheet or by plugging the numbers into an app, is a good idea for the early stages of the planning process. An expense calculator can help you figure out how much everything will be and how best to go about sharing costs among your group. You may even want to consider group money saving and setting a certain amount aside per person to go towards your trip together.
Once you’ve decided on the budget, the most important things to pay for will be your travel arrangements to get to your location and the accommodations once you get there. Plane or train tickets are easy enough to get individually, but likely one person is going to be saddled with the bill for the shared hotel room. It’s easy enough to split the cost after everything is paid using a cost calculator and an app for bill splitting and payment, but some companies do allow you to split a hotel bill at the time of payment, which takes some of the stress off of one person’s wallet. For example, you can split Airbnb costs before putting any money down, so everyone automatically pays equal amounts.
Once you’re on your trip and having a great time together, you’ll still need a simplified way of splitting costs while you’re, especially if you’re exploring the U.S. on a road trip and frequently stopping for gas and food. You should consider what would work best for your group, whether it’s splitting every gas and restaurant bill and paying back as you go or tracking your costs over the trip and choosing to settle up afterward. Whatever you decide, just make sure to keep track a good record so you can be sure it all comes out proportionally in the end!
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