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do budgets actually work?

Travel Forums Asia do budgets actually work?

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1. Posted by oslaue (Full Member 571 posts) 9y

do budgets actually work?

its rare that i ever have a budget when ever i go away on holidays
but it is also rare that i plan to be away for many many months and not to work at all. in my case i will be away from my home country for 2-3 years but plan to go home for 3-4 week holidays.

often when i go away on a 2-3 week holiday money is no issue to me, what i want is what i get, what i want to do is what i do. on a night out i just spend lots! often i probably spend more than anyone else.

i am wondering do budgets actually work? often i find it that i have no control over my money especially when i am drunk and wake up the next morning with a huge hole in my wallet.

i am in thaialand for 3-4 weeks. my friends tell me that they spent
1k euro a week! is that a lot money? they did drink and get drunk every day!


2. Posted by vegasmike6 (Travel Guru 3562 posts) 9y

Budgets really do work when you have a set amount of money to spend and no way to increase the pile. It does take discipine and it sounds like you may need a bit more to stay within your budget.

I have a mate from England and he spends twice as much as I do every month when we are in Thailand or Cambodia. He smokes, drinks beer daily, likes meat every meal and chases women most nights. I do not do any of the above. Alcohol & women will leave most budgets in tatters.

Nancy Reagan had an anti drug campaign that used the phrase; "Just say NO!" to keep teenagers off drugs. Olaf, Perhaps you need to say "NO!" a bit more if you expect to stay within your budgetary limits. Good Luck.

3. Posted by Degolasse (Travel Guru 823 posts) 9y

1000 Euros a week in Thailand? I don't spend that in two months in Thailand. So yes, they are staying in nice places, doing any activiy (diving etc.) they feel like, and probably drinking alot. If you are on a budget, there is no reason why you should spend more than 350 Euros in a 3 weeks trip. If it were me I would be budgeting about 275 Euros for 3 weeks, but I tend to travel on the low end.

I have a tried and tested method for keeping myself on a budget. First I figure out what I can afford to spend on a daily basis. I carry my money in a money pouch under my clothes which I never touch because it's hidden. But every morning I take out my daily budget and put it in my spending fund in a wallet or however I feel safe carrying daily spending money. If I run out of money in that stash then I've spent too much and I can't afford a beer that night or whatever. If after a few days I end up with a nice surplus, then I have extra spending money.

4. Posted by vegasmike6 (Travel Guru 3562 posts) 9y

Good tips. I am so used to being a 'cheap charlie' that it comes automatically. Our new poster Olaf will need your discipline and helpful tips if he is to avoid spending baht like a drunked sailor. Which I think is the real problem. Too much alcohol and common sense & discipline are out the window.

5. Posted by oslaue (Full Member 571 posts) 9y

thanks guys.

i thought 1k was a bit excessive to be spending a week! they said whatever amount you go over with you will spend...but from talking with my mates they just did normal things but did a lot of the normal things.

i sometimes talk to taxi drivers here in dublin and a lot of them go to thailand, they tell me they go out with 3-5k themselves for a 3-4 week holiday and often come home with 1k to spare or more. now these taxi drivers told me they are at the women and beer, staying in nice hotels.

from talking with you guys i got a good idea of how much i am looking at to spend and control.

one the girls told me that she spent 1,500 euro in 7 weeks and she was out all the time. but we all know that guys drink way more than fellas (sometimes)

thanks for your ideas and feedback. i will be for sure taking them on board!

6. Posted by Mel. (Travel Guru 4567 posts) 9y

Yes, 1K per week, in Thiland is certainly a lot. Hope your friends had a really good time, blowing that much. It would even be a lot,in an expensive country, in my opinion.

Budgeting does work. But I think how one budgets makes a big difference, to how one feels about it. Usually, I spend little on boring everyday things. Then spend more on what means the most to me. When I budget, then I have money for things like travelling. I budget when travelling, in the same way. Spend more on what is fun, and less on what is less important to me.

And budgeting allows my family to live on one income. So I dont have to work and get more free time, and more freedom.


7. Posted by oslaue (Full Member 571 posts) 9y

that is very true mel cos i raised that point with them last night in the pub.

spending 1k in dublin which is supposed to be one of the most expensive citys in the world would be little mission in itself! providing i just drank and ate, and traveling around the city appose to the country.

Since I don’t have any responsibility’s it makes it a tad bit easier for me to go a bit wild.

I plan to buy a couple of suits in Thailand that will set me back 300 dollars each…hmm they better be good!

8. Posted by magykal1 (Travel Guru 2026 posts) 9y

I think it does rather depend on how disciplined you are. Budgets don't really work that well for me unless I actually put the money that I'm not supposed to be spending in a different bank account that I can't get at. I always end up thinking 'OK, I said I wouldn't spend that much, but when am I next going to be in <insert country here>?'

9. Posted by magykal1 (Travel Guru 2026 posts) 9y

And wow, 1000 euro per week in Thailand? That must be a bit like Brewsters Millions.

10. Posted by oslaue (Full Member 571 posts) 9y

i think i have a spending addiction!