Budgeting is different for every person. Everybody has a different amount to spend, and a different way of spending money. In Bangkok, Thailand, you can spend $100 a day or $100 a week, depending on what you spend it on. Do you want only restaurant meals, or don’t you mind having a bowl of noodle soup from a street stall? Are you going to sleep in 4 star hotels, or is it okay with you to share your room with 5 other backpackers in a dormitory? Will you go for an organized day trip every day or are you going to explore by yourself and use public transport? Every choice has its own costs, and its own budget for you.
How much does it cost to travel?
We can’t say that a week in Europe will cost you this amount, and a month in Thailand that amount. But in general, it is cheaper in Asia, Central and South America, than it is in the western countries (U.S.A., Europe, Australia and New Zealand). Your dollar or euro can go a long way in Laos. Here you can get a tasty meal for a dollar, a simple room for a few dollars and do a fun day trip for only 10 bucks. Inform yourself about the different price ranges of different countries and plan your budget accordingly. Lots of guide books such as Lonely Planet show if place is expensive or not.
Always make sure you have more money in your bank account than whatever your budget is. You never know if there just happens to be that one more fun thing to do. Or that amazing but a bit more expensive day trip to go on. Anything like that will make you go over your planned budget. And it will happen somewhere along the way. Just enjoy making the memories, but budget and plan wisely. Don’t come back home with a huge debt, or else your memories will turn sour very quickly.
How to save up for a trip like this?
– Put some money aside every month, whether a fixed amount, or whatever you can spare that month.
– Put money in a jar for a year, say: in week 1 you put $1 in the jar, in week 2 $2, in week 3 $3, etc. building up to $52 in week 52. After 52 weeks you end up with $1378 saved up. Feel free of course to use any number you want (or count down the weeks), to end up with the amount you need. It is a good idea to begin with the end in mind. So if you want to have a certain amount after a certain number of weeks, calculate how much you should put in every week.
– Make a cool jar with “Dream Trip” written all over it, or covered in pictures of the places you want to see. Then throw your loose change in it, every day or every week. I bet that after a few weeks you’ll be throwing smaller notes in it too. And then whatever you can spare. That will amount to quite the travel savings!
– A great way to save money as well is whenever you want to buy something, ask yourself if you really need it. A new shirt or pair of shoes? Sure, they may look great, but how much joy will you have from it? Compared to a life changing experience as diving in the Caribbean? Or feeding some elephants in Thailand? Or seeing lions in the wild on a safari in Africa? Spend your money on experiences, rather than things. Things are just that, things. Experiences will give you memories for life. Something to talk about. A new insight in yourself. Exploring depths in yourself that you never knew about. With this new mentality, you will walk past that pair of shoes and, go on: put the amount you would’ve spent on it in the jar for your dream trip!
– Maybe even sell some of your old clothes and stuff you don’t wear or use anymore, who knows what a goldmine you have hidden in the back of your closet or up in the attic.
A fun comparison
– One of your daily latte’s (gone in 5 minutes) = 5 pho’s on the street in Vietnam (on 5 different days during your awesome trip)
– A funny print t-shirt from a decent fashion brand = 1 week’s accommodation in Thailand. Where you meet new friends from all over the world, giving you more couches to crash on if you travel there!
– 1 new pair of jeans (same as the other 10 you have) = a glacier heli-hike in New Zealand. With the accompanying stories to tell when you come back home!
To save money while traveling
– Share rooms with people you meet
– Share transportation costs, like car rental or petrol costs with fellow travelers
– Take overnight transfers. You go to a new place, and have a seat to sleep in, saving on a night’s accommodation.
