Nothing excites me more than traveling, especially with a group of loved ones – be it with family, friends or colleagues. There is something special about traveling together that elevates the experience to the next level – the laughter, amazing pictures taken and how memories are created. As a regular traveller and personal finance blogger, I learnt very quickly, however, that if money conversations are a taboo or sensitive topic in the group, the travel experience will be ruined.
As we continue with the Leruo travel-inspired series, this week’ article shares tips on how to prepare a group travel budget, encourage money conversations among travellers and promote reconciliation post the trip.
When people travel together, questions such as ‘how much is the cost for transport per person?’ ‘who is taking care of the bill?’ ‘how are we going to take care of the cost of parking or cab services? are necessary because the unspoken expectations or assumptions are fertile ground for conflict and resentment.
The pre-trip logistics: Draw up a travel budget.
Much like a household budget, a travel group budget maps out the planned expenses for the trip, for example lodging, transport and meals. Preparing a budget and discussing it as a group is an important pillar of the pre-trip logistics. As mentioned in the article ‘Lesotho Ke Lapeng: Three tips to help you plan a trip and explore’ available on The Reporter’s website, sourcing quotations for items such accommodation and transport lay a foundation for the trip. As a group, discuss how much the total cost per person is, agree on timelines when deposit for bookings should be paid and which account monies should be paid into. The group should nominate someone to oversee the budgeting process, source quotes and ensure the group stays on track. To get started, download the group travel budget template shared below.
The post-trip logistics: Review spending and reconcile.
One of the biggest sources of conflict post a group trip in my opinion is not reconciling how much was spent and agreeing who should be reimbursed or refunded. Many travel groups avoid this part of the process because it is deemed tedious, unnecessary, uncomfortable or insignificant. Sadly, however, when a member of the group has paid for something that was not part of the budget, but for the group’s benefit and feels like they have spent more than everyone else, the expectation is to be reimbursed. When this does not happen or is ignored, trust can be broken leading to resentment.
It is therefore important for the group to review the budget, compare how much was spent vs. the budget, agree on who should be reimbursed or who needs to settle outstanding bills. This makes for healthier relationships, solidifies trust and ensures more future trips.
Taking from Justice Murray Sinclair’s words when he encouraged and reminded law students to always seek reconciliation, ‘The road we travel is equal in importance to the destination we seek. There are no shortcuts when it comes to truth and reconciliation. We are forced to go the distance.’
In a similar fashion, as we continue to travel together and create memories, let’s remember that there are no shortcuts when it comes to reconciling the travel budget post the trip, download the template below and do it.
‘Ere tii, tii pote! Hahlaula naha ea haeno. Lesotho ke lapeng’
