Fuel is the biggest variable cost on a driving trip, and it is easy to estimate before you leave.
The formula
Fuel cost = miles / miles per gallon x price per gallon.
Example
600 miles round trip, a car that gets 28 mpg, gas at $3.10 a gallon:
600 / 28 = about 21.4 gallons, x $3.10 = about $66.
Split four ways, that is about $17 each.
Adjust for real conditions
- Highway mpg is usually better than the sticker's combined figure; a loaded car with a roof box can be noticeably worse. Using 10% lower mpg gives a safer budget (about $74 here).
- Check prices along the route; they can vary a lot between states and between highway and town stations.
- Add tolls and parking as separate lines.
Compare with the alternatives
Put the same trip next to train, bus or flight prices for everyone in the car, including bags and transfers. For one person driving alone, the comparison often looks different than for a full car.
Put it in the holiday budget
Add fuel, tolls and food on the road as one 'travel' line, then divide by the paydays left before the trip.
Free tools
- Gas cost calculator: https://smartbudgetsheets.surge.sh/calculators/gas-cost-calculator/?utm_source=mataroa
- Holiday budget calculator: https://smartbudgetsheets.surge.sh/calculators/holiday-budget-calculator/?utm_source=mataroa
- Bill split calculator: https://smartbudgetsheets.surge.sh/calculators/bill-split-calculator-couples/?utm_source=mataroa
- Debt Payoff Planner, up to 8 debts (Payhip): https://payhip.com/b/PtBLU?utm_source=mataroa
- 42 free budget templates, pay what you want ($0 is fine): https://smartbudgetsheet.gumroad.com/l/ngpkrb?utm_source=mataroa
General information, not financial advice. Figures are rounded examples.