One of the most difficult aspects of planning a round the world trip is getting the funds together. Although long term travel needn’t be expensive the costs involved do require some consideration before taking the leap.
A good first step is deciding which countries you plan to visit and for how long. From this you can usually work out how much you’ll need for day to day expenses on the trip. For example for each month in New Zealand I budgeted £1500 ($2150) and India £500 ($715).
On top of the day to day costs remember to factor in:
And some money to return home to
I also had the pesky problem of a mortgage to deal with. Even if you’re renting your house out while you’re away it’s worth saving enough to cover the mortgage. Travel may be wonderful but it’s not worth having your house repossessed over!
All in all I put aside around £20,000 ($28500) in preparation for my 10 month RTW trip. And I managed to save this all within 2 years!
In my next post I intend to cover how I managed to scrape that amount together and hopefully offer so tips as to how you can too!