5. You are Very Likely to Overspend:
This holds very true, especially for a first time traveller. Airlines will charge you for bags that are oversize by 1cm or overweight by 1kg; car rentals will charge you hundreds of euros for losing a tire rim, despite purchasing the most comprehensive insurance cover; exchange rates will certainly screw you over from time to time and here’s the funniest of the lot – you will find far too many souvenirs and things you want to bring back but can’t afford and all of them will be overpriced (simple Irish branded ball-pens were being sold for obscene prices of INR 500).
I mean no disrespect here, these expenses are being charged because you missed reading a clause in fine-print or because there are plenty of people willing to pay that much for a pen. The bottom line is despite months of budgeting and planning, you are very likely to overshoot your projections (at least that first time you travel on your own) and it’s always helpful to have a tiny contingency fund at your disposal.