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Book Tours Part II: Setting Your Budget

4/11/2024

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Aside from the logistics of planning stops, events, and places to stay, book tours also require the dreaded "B" word---budgeting. That means deciding what you are willing to pay for and how you are going to pay for it. Politicians may have the luxury of forcing current taxpayers and future generations to pay for their extravagances, wishful thinking, and re-election promises, or you may have just inherited a substantial windfall from a rich relative. For the rest of us, a travel budget is necessary.

The starting point of a sound budget is the amount you can afford to spend---preferably without taking on additional debt (seldom wise unless there is a reasonable expectation of getting more of a return on the money spent than the cost of borrowing it). Then back off 10 to 20 percent to give yourself some wiggle room for the inevitable unexpected expenses and for discretionary spending. The remaining figure is what you've got to work with. It will need to cover the following:

1) Books that you will carry with you for direct sales.

2) The cost of promotional materials---bookmarks, social media cards, banners, and so on.

3) Lodging, if you are unable to stay with relatives or friends who are willing to have you visit. "Clean and safe" is the minimum; beyond that, it's up to you as to what amenities are non-negotiable, but the more you want, the more you'll have to spend. Location also factors a lot into costs, so you'll have to decide whether you're willing to drive a few extra miles to save some bucks.

4) Food. Restaurants aren't cheap, especially if you want to eat something healthier than gas-station hot dogs and taquitos. Preparing your own food or buying from supermarket delis can be less expensive but may not always be feasible.

5) Transportation. If you're driving, you'll have to pay for gas or charging stations; if you're flying or traveling by bus or train, you'll need tickets and money to cover any baggage fees. If you're using some form of public transportation between cities, don't forget about the cost of local transportation once you get into town.

6) Personal expenses for hygiene items, first aid supplies, your other must-haves, and things you forgot (there will always be something).

7) Any necessary fees for registrations or admissions to events and venues.

Travel expenses aren't always 100 percent under your control, but the more you plan ahead and do your homework on researching costs, the fewer unpleasant surprises you're likely to get. Prepaying for things like hotel rooms in advance guarantees that you'll have them when needed and can often save you money, but usually at the price of flexibility for last-minute changes.

Making a budget and sticking with it isn't much fun, but finding yourself up to your eyeballs in extra bills and debts after your trip is even less fun. Pick your poison.
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    I'm Avalyn Hunter, an author with a passion for Thoroughbreds and a passion for writing and storytelling.

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