How to make your holiday budget work harder

Whether you’re planning a family road trip, a camping trip in the campervan, a romantic weekend away or an all-out overseas vacay, the very first thing on your holiday to-do list should be a budget. With a plan in place, you’ll hopefully spend less time stressing about money and more time enjoying your break.

How much money should I take on holiday? 

How much money you'll need to take on holiday depends on a few things: your destination's cost of living, the duration of your stay, planned activities and who you’re going with. Research the typical expenses for meals, accommodation, and entertainment at your destination to create a realistic budget. Think about what you plan to do while you’re there: Sampling local cuisine for lunches and dinners? Museum entry tickets? Walking tours? It all adds up. Don't forget to include a buffer for emergencies and unexpected costs.

Why should I separate my holiday money from everyday spending?

Separating your holiday money can make it easier to stick to your budget and avoid spending it unintentionally before or during your trip. If it’s in your main account, there's a good chance you'll use it accidentally, so keep it in a different account so the money is less visible. If you use AMP Bank GO, you can keep your holiday money separate from your main balance by creating a 'Holiday' Space. That way, you won’t accidentally dip into the money you've set aside for your trip.

You can top up your 'Holiday' Space at any time and even set a target for your goal amount.

You can also add a photo of your destination for added motivation. Anything goes – a campervan for a road trip down the Great Ocean Road, the Sydney Opera House for a weekend in the city – it’s up to you.

How can planning my packing ahead help protect my holiday budget? 

Figuring out what you need to pack in advance can help avoid last‑minute purchases that eat into your holiday money. If you pack in a rush, it's easy to forget some everyday essentials – like a phone charger, an adaptor, or sunglasses – so writing a list of what you’ll need before you start packing can help protect your budget. If you don’t already have travel insurance, you may also want to budget for that. It’s also a good idea to have a buffer of money for emergencies and the unexpected.

What’s the best way to pay for things overseas?

How you pay for things overseas can affect how much you spend due to fees and exchange rates. If you don’t feel like taking over wads of cash on your trip, consider a bank card that doesn’t charge international fees. AMP Bank GO’s Everyday Account Debit Mastercard doesn’t charge any fees for currency conversion on international purchase or overseas ATM withdrawals, and the transaction will be converted to Australian dollars so you can easily access your cash without being penalised.  

Also keep in mind that some overseas ATMs will charge operator fees for each withdrawal, so you may want to limit the number of times you take out cash.

How can a daily spend cap help me stay on budget?

A daily spending limit gives you a simple guide for managing your money while you’re away. It helps balance everyday expenses with occasional splurges, while keeping overall spending on track. For example, budgeting around $40 for lunch, $70 for dinner and a little extra for things like local transport, coffees or entry tickets could add up to a daily budget of around $130-$150.

That said, do build in some flexibility. You’ll probably have a day or two where you have a group picnic and spend less on lunch, or an evening where you go somewhere special for dinner. But having a daily figure can act as a guide.

How can I track my spending while I’m on holiday?  

If you're an AMP Bank GO customer, tools like the AMP Bank GO app make it easier track your holiday spending as you go along. Every time you spend from your AMP Bank GO Everyday Account, the app automatically categorises the transaction, for example as ‘Eating Out’ or ‘Transport’.

You can also re-categorise transactions, for example from ‘Shopping’ to ‘Gifts’, to make your Spending Insights even more personal.

How can I stay scam‑safe while travelling?

Tourists are prime targets for scammers and it’s important to stay aware and savvy while you’re out and about. Book tours and accommodations through trusted sites and relish the peace of mind that comes with reading reviews from fellow travelers. Dive into local experiences with confidence by using secure payment options like debit or credit cards or trusted mobile apps, giving you the added perk of fraud protection. Keep your valuables safe and out of sight, and let your intuition guide you away from any deals that seem too good to be true.

AMP Bank GO has added an extra layer of security with its new numberless cards, reducing the risk of card number theft and potential fraud. If your debit card does get lost or stolen while you’re overseas, you can instantly lock, block or cancel your card simply from within AMP Bank GO. The app also gives you instant notifications when you spend, so if you spot any unusual activity you can act fast.  

The more you understand your spending, the easier it is to stick to your budget – and get back to enjoying your holiday.