We’re not going to beat around the bush, you do need a fair amount of money to travel the world. But maybe not as much as you’d think. There are loads of factors that influence the amount you need to save up. For example, whether you’re willing to work whilst travelling, the standards of accommodation you expect and where you’ll be spending most of your time – in cities or rural communities.
Let’s have a little look at these areas in more detail.
Working while travelling
Of course, budgeting before a trip is hugely important. But being able to top up your spending money whilst you’re away is beneficial – especially if you’re travelling for a while.
If you’re planning to work while abroad, make sure you check out the legal requirements. For example, in Australia and New Zealand, you’ll need a work permit. You can find more information on getting working holiday visas for both.
This assumes you’ll be travelling in one trip – but a cost-effective way of world travel is maintaining a normal life at home and saving that bit extra for holidays with a difference. Art Travel Eat Repeat has previously discussed how she saves for her trips while working a full-time office job. Unlike many people believe, it is possible to work and travel.
The standards you expect
If you want to stay in 5* accommodation for the duration of your trip, it’s obviously going to cost you a lot. But if you’re willing to slum it a bit, you’ll save money. Hostels are a good choice for the budget traveller and don’t deserve the bad reputation they sometimes get. This post dispels some of the common myths about staying in hostels.
As another way to save money, you should also learn to cook for yourself – it’s actually one of the Secret Travellers’ top 20 tips for long-term travellers. When you’re craving a home-cooked meal, they say, “don’t be afraid to head down to the local supermarket, stock up on provisions and cook yourself something nice back at the hostel.”
It’s also a good way of catering for dietary issues, which Art Travel Eat Repeat often discusses. If you’re heading to Australia on your round-the-trip, she’s got tips on eating gluten-free there.
Where you’ll be staying
Where you go will have a huge impact on how much money you’ll need. Staying and eating in cities like London and Singapore is going to be a lot pricier than doing the same in some Eastern European countries, for example. In Krakow, Czech Republic, you can get the cheapest beer, costing the equivalent of £1.07. Delhi, India, and Ho Chi Minh City, Vietnam, also have pretty cheap beer.
So research the places you intend to go beforehand and be prepared to change your route to save a bit of money. Factors you need to look into include the price of: food and drink, accommodation, travel and any extra activities.