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Dealing with Money When Traveling in a Group

Dealing with Money When Traveling in a Group

December 16, 2017
Luxury Travel

Money can turn into a big headache for any traveler. When you are with a small group you often have to worry about not only your own money, but everyone else. While traveling with a group can save you money, if you aren�?�¢??t careful it can actually cost you more and ruin a few relationships. This is why it's important to prepare for money issues ahead of time. These are some of the things that you should consider when dealing with money while you are traveling in a group.

Figure Out A Budget

It's best to figure out a budget before you travel. Not everyone is going to have the same amount of money to spend. You don't want someone in the group to feel left out because they can't afford something or another person to feel as if they are being held back because someone can't afford to participate in an activity. All inclusive vacations, tours and cruises can be great choices for groups since most expenses can be paid up front. This can help travelers avoid issues when it comes to money.

Create A Log Of What Is Spent And What Is Owed

It can be difficult to keep track of who has paid for what. Write everything down so that no one feels slighted and as if they've had to pay more than other people in the group. In the evening, gather together to discuss what is owed and make sure that everyone who owes money to someone pays it at that point. It's easier to settle all debts each day while they are small versus trying to get a larger sum of money at the end of the trip. There are apps like Splitwise that can help travelers record what is spent.

Recognize That There Will Be Different Budgets

No matter who you go on vacation with, chances are that the amount of money that everyone has to spend will be different. Take this into account and be prepared to compromise at times. Even if everyone has thousands of dollars to spend, you probably won't get to do everything you want anyways as you are traveling with a group. Take this into consideration and be realistic about what you will and won't be able to do. Don't hold a grudge if you can't partake in an activity because a majority of the group can't afford too.

Consider Saving Money Together

A fun way to come together as a group is to save money together. Now, you don't have to keep it all in the same account (unless you want too). Choose a weekly amount that each individual in the group needs to save leading up to the trip so that they can reach the final goal. Check in with one another to make sure that everyone is saving what they are supposed too. This will make it a lot easier, once the trip comes, to ensure that everyone has enough money to enjoy themselves.