Guest PostTravel

How to Budget for a Trip Around the World in 5 Simple Steps

What if I told you that you could travel around the world without a rich man’s budget? Not only is it a possibility — it’s a very attainable dream that anyone struggling with both wanderlust and a strict financial plan can turn into a reality.

And no, you don’t have to regretfully lug all of your valuable possessions to a pawn shop or sell away your kidney in the name of building your expenses, either. You can embark on a voyage across the seas and to the world’s greatest nations — and all it takes is a little bit of careful planning along the way.

If you find yourself driven by the constant itch to get out and go, there’s never a better time to embark on your journeys than now! If you want to create the memories that will last a lifetime without accumulating unbearable expenses in the process, be sure to follow these six simple budgeting below to get a jumpstart on your planning with the right financial know-how today!

1. Skip the Hilton for a Hostel or Workaway

You can cut the cost of your traveling trip tremendously by eliminating the expense of expensive hotels entirely. Want to know the secret to accessing affordable — or free — travel? Just opt for a hostel or workaway program instead!

Skip the Hilton for a HostelIf you’re planning to voyage across the world, chances are you’ll find yourself away from your home for quite an extensive period. If you’re used to the productivity of the everyday workflow, why not opt for a workaway program that allows you to put your efforts to use in exchange for free housing accommodations and meals? You’ll be able to work alongside couples, families, and individuals like yourself while cutting down on your expenses considerably, too.

A great new work away platform that’s 100% free is HippoHelp — so you can now work away without paying a penny!

If you don’t want to work during your travels, that’s where a hostel comes into play. You earned this time off — so sit back and relax without kicking your feet up on a $1,000 mattress in the process. Hostels cut the unnecessary costs associated with luxurious hotels by allowing you to room with others who you can share your experiences with along the way.

2. Skip the Restaurant and Opt for a Home-Cooked Meal Instead

Go for home cooked mealsI know it may be tempting to indulge your taste buds in a taste of authentic spaghetti and meatballs, but you do really need to visit that upscale Italian restaurant every night? When it comes to keeping your budget tight, it’s always essential to forgo the five-star establishments for a delicious home-cooked meal instead.

If you find yourself continuously drawn to the exotic cuisines that define the new countries you explore, opt for street food rather than restaurants to get a taste of the authenticity instead. It’s considerably cheaper than dining in a café or bistro and a meal in the streets gives you the chance to talk to locals and learn new traditions beyond the confines of an establishment, too.

3. Choose Your Travel Destinations Wisely

Even though you’re going to travel across world, you can’t expect to trek through nearly every city and country that compromises the entire globe. You might include the Middle East in your voyaging plans, but you’re not quite sure where in this region you’re going to stay. That’s where a bit of research on the cost of living in various regions comes into play.

 Choose Your Travel Destinations WiselyAs with any other daily life expense, the cost of your travel will depend upon many different factors — including your preferences and taste. It’s important to realize that some countries are costlier than others. For instance, a three-course meal in Jaipur costs roughly $7.68 while a single dinner in England could amount to triple that cost.

The key to budgeting is finding an affordable option while still fulfilling your desire to explore the world at large. You’ll quickly realize you won’t need to waste thousands of dollars on unnecessary pit stops along the way when you’re having fun in a more affordable country overflowing with culture, vibrancy and experiences to be made instead.

4. Document Every Expense

When you make payments with a quick swipe of a card, it’s simple to forget how big of an impact these expenses can amount. Vacations are always an excuse for indulgence, but a more extended trip designates you must stay on track to keep your extended stay long-lived.

List all expensesAfter all, a journey across the world will provide you with far more excitement than a suitcase full of designer clothes and unnecessary knick-knacks you bought along the way.

Planning can be simple. You don’t have to load your backpack up with receipts, planning journals and multi-colored pens, either. For financial planning made easy, download one of the various budgeting apps available on the market to transform budgeting into a simple act you can maintain with ease.

5. Keep Taxi Rides to a Minimum

As gas prices reach an all-time high, it makes sense that the cost of transportation would be one of your higher traveling expenses. But when you have sights to see and cities to explore, who needs a fast mode of transportation anyway?

Forgoing public transportation for travel via your very own two feet can save you up to $15,000 in expenses that will help keep your budget in check. Plus, walking is a win-win situation. You get to burn off those morning calories from your early morning indulgences and you void the necessity for the expense of public transportation entirely, too.

Who says traveling is just for the rich and fortunate few? With a few frugal life-hacks in mind, you can travel around the world and keep your savings at a comfortable level, too.

This article was written by Emily Folk.

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4 Comments

  1. Another great post!

    I’ve said it time and time again! We are constantly told how expensive it is to be traveling by big luxurious brands and of course the media.

    The reality is that it’s really not so expensive to travel when done correctly and with proper planning. Thanks for bringing this concept to light for all to see!

    – Ron 🙂

    1. You’re right Ron! If you plan ahead and strategize a bit, you can travel very affordably. Thanks for stopping by and commenting!

      1. Having a loose plan always pays off in the end without tying yourself into too much commitment! You’re welcome Rob! Keep producing amazing content and I’ll see you around! 🙂

        1. You’re absolutely right Ron. And likewise! Looking forward to crossing paths online and perhaps in person one day.

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