BUDGET
How to set up a budget for your trip and most importantly – how to keep it while on the road.
Savings plan
Continental budget
Budget tips
Most expensive posts
the budget is the backbone of any trip
HOW TO PUT UP A BUDGET
Why having a budget is so important
Keeping a budget is important for many different reasons when traveling. First of all you can control your spendings and by so doing you
Savings plan
Start saving for your trip immediately. Or better yet, maybe you have been saving for a long time but now you set a date of when to go. Perfect.
The four major costs
When traveling there are four categories of costs that you simply can not get away from. These are also the most basic costs of any ordinary life back home. Transportation, food, accommodation and activities. Fortunately it is very easy to control all four of them – but depending on what kind of trip you are doing, these costs will vary.
Track expenses
There are many ways to track you travel spendings. You can either type it in manually in an excel document or you can use special apps.
Travel cheap
There are ways to travel as cheap as possible. Normally this includes very basic living like staying in hostels, not eating out every day, not traveling from one place to another by airplane every 2-3 weeks or doing a bunch of expensive activities every day. You set the limits, no one else. And depending on how good you are at keeping your budget, you get to travel longer and see more of the world.
Independent traveler or in company
Maybe you are traveling as a couple and share every cost – not matter if its food, accommodation, transportation and activities.
Challenges
When traveling there are four categories of costs that you simply can not get away from. Transportation, food, accommodation and activities. Fortunately it is very easy to control all four of them – but depending on what kind of trip your doing, these costs will vary.
STEP BY STEP
HOW MUCH DO YOU NEED
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
SAVINGS PLAN
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
BACK-UP BUDGET
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
PRE-TRIP EXPENSES
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
TRACK EXPENSES
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
COMING HOME
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
four major BUDGET costs
The most expensive posts in your budget when traveling. And examples of how to keep it under control.
TRANSPORTATION
FOOD
ACCOMMODATION
ACTIVITIES
TRANSPORTATION
Save more money knowing what companies to book your flights with.
FOOD
To be able to travel you have to have cash so you will have to start saving money. Even though you might not have taken your time yet to research any costs for your upcoming trip you can still start saving money. And this you can do and might actually already been doing for months or years before you decided to realize your dream trip. Maybe you don’t know exactly where you wanna go, how long you wanna be away or what you wanna do – but you can still start saving money. This is a process that takes time and this time is invaluable since you only get paid once each month.
In this step it is also very important to assess and review your current budget and financial spending. To be able to save more cash and be able to travel sooner you might have to sacrifice certain things in your life. Cut back on unnecessary spendings and make sure a set sum of money – with regards to your current paycheck – goes to your travel saving account. If you don’t already have a travel savings account, make it one of your first priorities when starting to save money. If you know that you have trouble in not touching your savings account – this is an account you could lock for a year.
Write down all your current expenses so that you can determine where you are spending money and where you can cut back. Things like coffee, snacks, partying out every weekend and eating out are things that cost you a lot of money each month.
ACCOMMODATION
The reason why you should book you flight is because it will serve as a motivation for your trip. That it really will happen.
You also motivate yourself when it comes to saving money for your trip.
Yes things can change along the way – but it is possible to book your trip with cancellation – for an extra cost of course. And if you book your flight a year in advance, maybe you should consider it.
Another good thing to book your flight well in advance is the price you will pay for your ticket. Often times it is a lot cheaper if you book well in advance.
ACTIVITIES
Getting a good travel insurance is very important when you travel. Especially when your travel for a long time due to the higher probability of something happening.
World Nomads – provide excellent travel insurance.
COSTS WORLDWIDE
This map gives you an overview over the most expensive continents, as well as the cheapest, in the world. It varies from red to yellow: where red is most expensive and yellow is the cheapest continent.
World Map Example
SAVINGS PLAN
Before your trip we advise you to put up a savings plan. That way you get an overview over your savings and know how much to save each month.
TRAVEL INSURANCE
Before your trip we advise you to put up a savings plan. That way you get an overview over your savings and know how much to save each month.
BACK-UP BUDGET
For any unforseen costs while on the road that doesn’t go on the daily budget. Emergency budget.
COMING HOME BUDGET
A budget for when you come back home.
CONTINENTAL COSTS
After returning home from that once in a lifetime trip it is easy to feel a bit depressed. You have to return to your normal life again and work for a living.
PRE-TRIP EXPENSES
Things you have to buy before your trip.
BUDGET TIPS
An overview of budget tips. + Lessons learned.
Have a coming home budget
Have a back-up budget while traveling
Sell your stuff
Use a map – mark where you want to go, what you wanna see etc
Create a bucket list – with only the absolute essentials of must do
Create a bucket list – with only the absolute essentials of must do
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For an example of a packing list follow this link:
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