Last Updated: 11/12/20 | November 12th, 2020
One of the most common questions I get asked about my ability to travel long-term is how I can afford to travel so much? Am I rich? Did mother and father pay? Do I have a rich uncle? Did I win the lottery?
Before I was able to transform this blog into a business, I spent years traveling the world by doing one thing: I kept track of my spending.
Det er det.
It’s easy and boring.
At the end of the day, just like there’s no secret to travel, there’s also no real secret to making your money last on the road either.
The way to make your money last is to be smart and reasonable about your budget and to do your research.
It’s boring, but it’s true.
When I first started traveling, I pinched every penny and saved money every chance I got. While I in some cases lavishly spent money like it was going out of style, I made up for it on other days by staying in and cooking pasta.
In short, I balanced my budget.
I kept a journal of what I spent so I could track my spending and be sure I was staying on budget. (I love when I see travelers keeping a spending journal to track their budget. Those are the travelers who end up staying on budget!)
While on the road (just like at home), there will be unforeseen situations that chip into your savings, like missed flights, a lost camera, or a change in plans that leaves you having to pay extra for accommodation. You can’t avoid these sorts of things, but you can plan for them. You can be prepared, know your budget, and make sure you can afford your travels.
Here are five ways to make sure you never run out of money for your trip:
Step 1: Know what you want to spend money on
When I travel, I don’t budget a lot of money for accommodation, tours, or even transportation. I find the most affordable accommodation around and I walk all over I can. If I need a ride, I’ll take public transportation or hitchhike!
But I will spend a lot of money on food and drinks.
Hvorfor?
Because that’s what I want to do! I didn’t pinch pennies back home and avoid going out so I could fly to Australia and spend my nights viewing Netflix, nor did I head to France just to cook meals in a hostel every night.
No, not me. I concerned live! I concerned eat and drink in the culture! Jeg vil gå ut.
And I’m prepared to sleep in massive dorms, on a floor, or walk seven miles to guarantee I have the funds to make that happen.
If you can eat all your meals in a hostel kitchen then a small food budget is for you. If you plan on Couchsurfing every night of the week, then you don’t need to account for accommodations. If you are flying to Europe and know you love to drink wine, you ought to expect that you’ll probably purchase some wine.
Be reasonable about what you want to finish with your travels and budget accordingly.
Step 2: research and plan before you go
When you know yourself and what you want to spend money on, it’s easy to create a robust budget that will cover you for the duration of your trip. This is where pre-trip research comes in.
Will you be taking any trips or cooking classes?
Going bungee jumping or dancing the night away at a club?
Once you know your interests (at least a bit), you can set your budget.
When I started planning my trip in 2005, there wasn’t a lot of travel information online. I spent a lot of time reading guidebooks and searching for any information I could find about prices. I pieced together an elaborate spreadsheet of how much I would spend each day in various places based on how much I could save and what I found online.
These days, you don’t need to go that crazy when you plan your trip, because there is so much information available online about prices. You can literally Google the price for anything you want!
If you want to make your money last, you need to know exactly how much you think you’ll spend.
Too often I see travelers get blindsided by unexpected costs, breaking their budget to pieces. Sure, something will always happen that you don’t predict, but people mostly get blindsided by stuff they ought to have anticipated.
“Wow! That trip is so expensive. I blew my budget!” “I didn’t expect drinks would cost so much!” “This place is much more expensive than I thought.”
I just shake my head when I hear these comments, because these are people who clearly didn’t do any planning.
Don’t be like these people. Do your research, plan ahead, and avoid the pitfalls that will send you home far sooner (and far poorer) than you want.
Step 3: create your ideal budget
Create a budget for what you think travel will cost. write down all the things you want to do, where you want to do them, and how much they will cost. Account for your food, insurance, transportation, flights, accommodation, booze, activities, and anything else you think will be relevant.
If you need help budgeting or don’t know how much something will cost, ask someone from our online travel forum — somebody will certainly be able to help!
Step 4: match your expectations to your economic reality
I cut a lot from my ideal budget and schedule based on how much I knew I was going to actually save for my trip. If I wanted to do things that totaled $10,000 USD but was only going to save $7,000 USD, then I had to make cuts to match my financial reality.
Here are some good articles on saving money to help you get started:
22 ways to save money before You Travel
How to avoid bank fees on the Road
18 steps to planning Your ideal Trip
How to eat cheap around the World
How to use the Sharing economy to travel on a Budget
Step 5: keep track of all your expenses
Finally, after you have created your reasonable budget and set out on the road, you need to track all of your expenses. The people who have to go home early are always the ones that have no idea how much money they are spending on the road.
By tracking every expense — from hostel dorms to that snack you purchased — you can see if you’re on track or if you’re overspending (in which case you can appropriate your spending).
This is the most essential thing you can do to make your money last!
If you only do one thing, track your spending! Sure, you have to remember to do it, and it’s easy to forget, but actively doing this will guarantee you become a better budget traveler, and soon it will become a habit.
You can keep track of it all in a journal (I use a Moleskine notebook) or use an app like:
Mint
Trail Wallet
TravelSpend
Goodbudget
I suggest tracking your expenses for a few weeks at home before your trip to get in the habit. That way, when you’re on the road, it won’t feel like a chore. here are some totally free budgeting templates you can use to get started.
***
Your budget will only last as long as you planned it to last. If you plan your budget well, it will last until the end of your trip. No matter what you do, write down your expenses!!! keeping track of your expenses will allow you to make adjustments as you go and guarantee that your travel money lasts as long as you want.
Do I ever review budget?
Selvfølgelig. but I make up for it on other days. because it’s a lot simpler to make up an extra drink than a trip to great barrier Reef or continuously going over your accommodation budget.
By planning and tracking like a financial ninja, those things are not likely to happen. That implies much more days on the road, much more adventures, and much more awesome travel experiences.
The better you know yourself and create a budget based on that, the longer your money will last when you travel!
How to travel the world on $50 a Day
My new York Times best-selling paperback guide to world travel will instruct you how to master the art of travel so that you’ll get off the beaten path, save money, and have a deeper travel experience. Det er din A til Z -planleggingsguide at BBC kalte “Bibelen for budsjettreisende.”
Click here to learn much more and start reading it today!
Book Your Trip: Logistical suggestions and Tricks
Bestill flyet ditt
Finn en billig flytur ved å bruke Skyscanner. Det er min favoritt søkemotor fordi den søker på nettsteder og flyselskaper over hele kloden, slik at du alltid vet at ingen stein er igjen.
Bestill innkvarteringen din
You can book your hostel with Hostelworld. Hvis du vil bo et annet sted enn et herberge, kan du bruke booking.com, da de konsekvent returnerer de rimeligste prisene for gjestehus og hotell.
Don’t forget travel Insurance
Reiseforsikring vil ivareta deg mot sykdom, skade, tyveri og kanselleringer. Det er omfattende beskyttelse i tilfelle noe går galt. Jeg drar aldri på tur uten det, da jeg har måttet bruke den flere ganger i fortiden. My favorite companies that offer the best service and value are:
SafetyWing (best for everyone)
Forsikre turen min (for de over 70)
MedJet (for ytterligere evakueringsdekning)
Ready to book Your Trip?
Sjekk ut ressurssiden min for de beste selskapene å bruke når du reiser. Jeg lister opp alle de jeg bruker når jeg reiser. De er de beste i klassen, og du kan ikke gå galt ved å bruke dem på turen.