SETTING YOUR BUDGET & KEEPING TRACK
I keep track of my spending in every country I visit!
Once your savings fund has been attractively topped up and you're starting to plan your trip in depth, you may ask yourself, how long will my trip be? How far will my money take me? This is when you should decide on a daily budget and stick to it the best you can.
My budget when travelling is £30 a day, I sometimes go over this or some days I spend less but it averages out all the same. You can travel for less if you're stricter with yourself or you can obviously spend much more if you want but £30 a day works for me and lets me travel comfortably yet I'm still being careful.
Choose a budget that suits you then you will have some idea of how long your money will last (but it doesn't have to end there if you don't want to go home).
There's not a set amount of money you have to save before setting off on your trip. Just set your goal, save what you can, keep to your budget then travel for as long as your money lasts. Make a list of the places you want to see and things you want to do and complete that first. If you want to stay on the road longer than you thought, then find work to top up your saving funds. Have a look at another page I've written about Making Money on the Road.
So, what I'm trying to say is there are no rules or set amount u have to save before you can set off but whatever you save just try to keep to some sort of budget. Don't think to yourself, I've only saved £2000 and I want to travel around South East Asia for 3-4 months so I can't go because I might not have enough. Don't let anything get between you and your dream. Just go.
Travel carefully with your money then once your funds get low find paid work or a Workaway where you can work for a few hours in exchange for food and a place to sleep. Trust me when I say it's not until you start to get anxious on the road and thinking about money that a great opportunity comes around.
Once you've figured out a budget and started your trip, keep track of your spending and be aware what you're paying out on.
I use the app Trail Wallet on all of my travels for this. It keeps me organised with my funds and shows me when I'm overspending.
This app is perfect for setting your budget and keeping track of it. All you have to do is download the app then:
1. Name your Trip (e.g Country/Month)
2. Choose a Starting Date (& End Date if you wish)
3. Pick which currencies you will be using (it calculates the amounts for you and adds everything up in your home currency)
4. Choose your Categories. These are what you will be spending money on and it's up to you what you want to add. This could be Food, Accommodation, Transport, Activities, Shopping, Laundry - it's up to you! (More can be added during your trip)
5. You're good to go! Put in everything you spend and choose which category it goes under then watch as the app calculates what you've spent and what on; how much money you have left to spend that day and what your average daily spending comes to. It will highlight Red when you have gone over budget.
At the end of each trip, I choose the option to view my overall spending as a pie-chart, then I can pinpoint what I've been spending most of my money on. It's a brilliantly useful app that I use everyday on my travels - it's shown me what to cut back on (usually Food & Alcohol) and lets me keep track!
This is my own pie chart with Trail Wallet I created from my trip to Guatemala in 2018.
As you can see I was under budget slightly but probably spent a little too much partying and eating out.
Remember it's not the end of the world if you overspend slightly, don't be hard on yourself if you go over budget just try your best. It has a funny way of averaging itself out and in a year from now, you won't remember what you were even worrying about --- just lovely memories.
Hey Everyone! I'm Emma from Scotland & this is my new Travel Blog to inspire YOU through my experiences. I believe everyone should live their own dreams & love life to the fullest. I want to show how easy it is to travel & help you plan your ultimate trip step by step. Explore my personal guide to see how.
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