Many factors influence how much you will spend…which countries you visit, the types of accommodations you stay in, how often you move between cities, your mode of transportation, and how many tours and activities you do.
COUNTRIES OF VISIT
In Europe and Australia, per person costs an average of $125 per day. So for a family of four, it is averaged $350 per day in these countries. Asia, Africa, and South America are more affordable. In countries like Cambodia, India, and Nepal, you can pay as limited as $50 per person per day and still feed well and stay in excellent accommodations.
MODE OF TRANSPORTATION
The train should be a principal mode of transportation as it will significantly influence your budget. Aircraft flights are the most costly, whereas bus travel is extremely cheap. If you desire to keep your budget low, limit your flights, fill in bus and train travel gaps. But learn, you receive what you spend for.
SPEED OF TRAVEL
The more often you switch locations, the more cash you spend. This is because every time you transfer to a new place, you have to spend money on transportation, which increases your daily expenditures. On the other hand, many people hop from site to site about each week or two when they travel for a year. Some visit a month or longer, remarkably getting to acknowledge a place. And, since there are no transportation expenses during this time, payments are usually meagre. So the slower you travel, the lower your daily costs.
TYPE OF ACCOMMODATIONS
Accommodations can easily be one of the essential ticket items in a budget. So saving money here preserves a lot of funds overall. During long-term travel, most people visit two or three-star accommodations, hostels, or apartment rentals. So when planning your trips, it’s easy to say that you will stay in low budget, economical places 100% of the time. To keep expenses down is to consolidate your transportation expenses with accommodation costs. Booking overnight trains and buses are excellent ways to save money.
Food is another item that sums up fast on the trip budget. If you are attempting to keep costs down, minimize your visits to restaurants and maximize your visits to grocery stores. Preparing your meals will save money. Eating local food is much cheaper than dining in restaurants that serve a western menu. Sometimes, your best bet for good, affordable food is the street food stalls. Just choose a place that does a lot of business.
ACTIVITIES, TOURS, AND MULTI-DAY EXCURSIONS
This is the fun part of travelling, and yes, you do have to budget for it. Museum entrance fees, guided tours, zip-lining, surf lessons, concerts, and excursions all need to be accounted for in your budget. However, hiking can be a low-priced way to explore. Traversing a city on your own and attending the free museums is a form to go sightseeing for the least money. However, add in a little bit of cash for those other must-see places. Once you start adding in food tours or adventure sports, your costs will go up.
Unavoidably, you will pay money on miscellaneous fees, like visas on arrival, souvenirs, washing, replacing worn clothing, purchasing new gear, and other unaccounted items as you move. Many people advise having within $1,000 and $2,000 set out to be used in these situations.
Unluckily, there are more costs to consider: those upfront costs that you will pay even before you set base on that first aircraft. These payments combine vaccinations, visas needed in advance, plane flights, travel gear, health insurance, travel insurance, homeschooling materials, etc. So, if you are considering long-term travel, your next steps are to come up with a basic itinerary, determine your travelling style, and start making your travel budget.