An almost constant topic of conversation between travelers and would-be-travelers everywhere is money- how to get more of it/spend less of it. Your management of your finances will directly influence how long you can spend exploring our wonderful world, and this article is meant to help you tighten up your purse strings and spend longer lounging on that beach or trekking in that jungle. If you’d like to watch that bank balance increase rather than empty out while you’re overseas, check out my article on Working Overseas- Why, How and Where!
I spend a lot of time working on my budget- I don’t like to work more than 6 or 7 months in a year, which means I need to be pretty on top of my financial management. When I’m away I always keep a journal (otherwise I forget some pretty awesome things) and in the back I like to keep notes of what I’m spending. This is useful for budgeting while you’re on the road but also great for reflection when you get home- did you spend what you expected? Less? More? These records become a great resource for planning future trips and also for friends who are heading off to similar places and want to know what to expect (I once had a friend send me a spreadsheet of everything he had spent on a particular trip, colour-coded and pie-charted… can’t fault his enthusiasm!).
Whenever I talk to my friends about saving to travel, it always comes down to one thing- Priorities. I don’t believe people when they tell me they can’t afford to travel- of all my friends this financial year I certainly earned the least (not even enough to owe tax) and yet I’ll be spending 2 months in Indonesia, one in Malaysia doing Dive courses, and another 2 off later that will be filled with yet-to-be-determined adventures. Simply, travel is my priority- I’m a wanderlust junky and I’ll do whatever I need to to get my fix. When I am settled somewhere working for a number of months I always have my next trip in sight- I chose my splurging with care and generally keep things as cheap as possible. I live in sharehouses, which keeps rent down and also is a great way to meet new friends. This also normally saves you from needing to furnish an entire house, which is a drag if you are doing this everytime you move somewhere new. I don’t really drink at all and cook for myself most of the time- again, priorities. Especially in big cities, the cost of eating out and having drinks a few times a week quickly add up, and I’d rather spend that money on a dive at Manta Point on Nusa Lembongan. That being said, make sure you do splurge every so often though- no one likes a Grinch and scrimping every cent isn’t going to lead to any fun at all! I don’t see any point in missing out on a good time or delicious food- Try out that new vegan restaurant, go diving in the Gili Islands, grab a delicious craft brew on New Zealand’s south island- just don’t do it every day. Forgo the daily latte and brew yourself coffee at home- even that $4 a day ends up being over $100 a month, which sure adds up fast. Simple changes can make a big difference! You’re working hard for your money, trading your time and effort for savings. Make sure you’re spending them on things that really matter to you! If you keep that next trip in mind you are less likely to fall into the trap of buying ‘stuff’- needless bits and pieces (those 3 new dresses, matching cushions for the sofa) that clutter up your home (that you’re hoping to leave anyway) and suck away precious travel funds. The less you own, the easier it is to pack up and leave- leaving an entire household of possessions at your parents’ house may not go down so well.
When you are away exploring try and keep things as local as possible- mainly food and accommodation. Eating locally is always an exciting experience, and you’re much less likely to get any sort of ‘Bali-belly-esque’ bug than if you go for Western foods that may have been sitting around for who knows how long (my Dad loves to tell the story of how he ate street food all through Egypt, and Mum got incredibly ill from the hotel peanuts). Eating local food will also cut your costs up big time- win win I say!
Homestays are often an awesome option- again allowing you to really get involved in the local culture and save your dollars. These can be find just by wandering the streets in some countries (in Bali you can’t go more than a few steps without being offered a room) but WorkAway or WOOFing (see my Working Overseas article) are also great networks of farms and homestays that will put you up for cheap or in return for labor- see CrewNet for the living-on-boats version! Couchsurfing is another great way to keep accommodation costs down- when I was backpacking in Europe I used this website to find places to stay from Zurich to Vienna, Russia to Greece. You’ll also make local friends who are normally more than happy to give you an impromptu tour or at least point you in the way of a cold beer. Couchsurfing is free and also has fantastic forums for meeting up with other travelers.
My best piece of advice is to talk to other travelers- there is nothing like sharing the travel stoke and everyone has their own tips and tricks to pass on- where they’ve found the tastiest and freshest food, how they’ve managed to be on the road for 8 months- some of the coolest experiences I’ve had have been following in the footsteps of a recommendation from someone somewhere along the line.
I spend a lot of time working on my budget- I don’t like to work more than 6 or 7 months in a year, which means I need to be pretty on top of my financial management. When I’m away I always keep a journal (otherwise I forget some pretty awesome things) and in the back I like to keep notes of what I’m spending. This is useful for budgeting while you’re on the road but also great for reflection when you get home- did you spend what you expected? Less? More? These records become a great resource for planning future trips and also for friends who are heading off to similar places and want to know what to expect (I once had a friend send me a spreadsheet of everything he had spent on a particular trip, colour-coded and pie-charted… can’t fault his enthusiasm!).
Whenever I talk to my friends about saving to travel, it always comes down to one thing- Priorities. I don’t believe people when they tell me they can’t afford to travel- of all my friends this financial year I certainly earned the least (not even enough to owe tax) and yet I’ll be spending 2 months in Indonesia, one in Malaysia doing Dive courses, and another 2 off later that will be filled with yet-to-be-determined adventures. Simply, travel is my priority- I’m a wanderlust junky and I’ll do whatever I need to to get my fix. When I am settled somewhere working for a number of months I always have my next trip in sight- I chose my splurging with care and generally keep things as cheap as possible. I live in sharehouses, which keeps rent down and also is a great way to meet new friends. This also normally saves you from needing to furnish an entire house, which is a drag if you are doing this everytime you move somewhere new. I don’t really drink at all and cook for myself most of the time- again, priorities. Especially in big cities, the cost of eating out and having drinks a few times a week quickly add up, and I’d rather spend that money on a dive at Manta Point on Nusa Lembongan. That being said, make sure you do splurge every so often though- no one likes a Grinch and scrimping every cent isn’t going to lead to any fun at all! I don’t see any point in missing out on a good time or delicious food- Try out that new vegan restaurant, go diving in the Gili Islands, grab a delicious craft brew on New Zealand’s south island- just don’t do it every day. Forgo the daily latte and brew yourself coffee at home- even that $4 a day ends up being over $100 a month, which sure adds up fast. Simple changes can make a big difference! You’re working hard for your money, trading your time and effort for savings. Make sure you’re spending them on things that really matter to you! If you keep that next trip in mind you are less likely to fall into the trap of buying ‘stuff’- needless bits and pieces (those 3 new dresses, matching cushions for the sofa) that clutter up your home (that you’re hoping to leave anyway) and suck away precious travel funds. The less you own, the easier it is to pack up and leave- leaving an entire household of possessions at your parents’ house may not go down so well.
When you are away exploring try and keep things as local as possible- mainly food and accommodation. Eating locally is always an exciting experience, and you’re much less likely to get any sort of ‘Bali-belly-esque’ bug than if you go for Western foods that may have been sitting around for who knows how long (my Dad loves to tell the story of how he ate street food all through Egypt, and Mum got incredibly ill from the hotel peanuts). Eating local food will also cut your costs up big time- win win I say!
Homestays are often an awesome option- again allowing you to really get involved in the local culture and save your dollars. These can be find just by wandering the streets in some countries (in Bali you can’t go more than a few steps without being offered a room) but WorkAway or WOOFing (see my Working Overseas article) are also great networks of farms and homestays that will put you up for cheap or in return for labor- see CrewNet for the living-on-boats version! Couchsurfing is another great way to keep accommodation costs down- when I was backpacking in Europe I used this website to find places to stay from Zurich to Vienna, Russia to Greece. You’ll also make local friends who are normally more than happy to give you an impromptu tour or at least point you in the way of a cold beer. Couchsurfing is free and also has fantastic forums for meeting up with other travelers.
My best piece of advice is to talk to other travelers- there is nothing like sharing the travel stoke and everyone has their own tips and tricks to pass on- where they’ve found the tastiest and freshest food, how they’ve managed to be on the road for 8 months- some of the coolest experiences I’ve had have been following in the footsteps of a recommendation from someone somewhere along the line.
