Forecasting Travel Budget
Planning Travel BudgetYou have now made plans to go around the world and you need to do the sums to forecast the length of your trip based upon your initial budget. This will give you an indication as to how long you can spend as a tourist before you need to come back or if you need to find work en-route. Initial costs you should think about are:
- Vaccinations & Medications – This will vary dependant on your itinerary
- Travel Gear (backpack, sleeping bag etc)
- Tours / hotels / hostels you book before you leave
- Tying up loos ends (mortgage, bills etc)
Costs whilst you are on the road:
- Plan a realistic cost of living per day for lodgings and food. A fair idea can be gained from rough guides and the lonely planet which are available from good bookstores such as Waterstones. However due to the current economic climate the price of all things has risen (fuel costs, inflation etc) The information on these guides may be outdated if the publication date was long ago. These travel guides can be indispensable when on the road (and there is no internet), however the books weigh considerably One way round this is to have the travel guide posted out to you at a named hotel. Another solution would be to consider purchasing an e-book reader like Amazon Kindle (by far the best e-reader) and purchase your books in electronic format (cheaper books). [The rough guides also have a ‘top 10’ things to visit or do, which can be useful for planning by region.]
Here is a ‘tried and tested’ spreadsheet which you can download to help aid planning costs. The spreadsheet also serves as a master itinerary containing majority of the information. The information includes hotels / hostels booked, tours and estimated cost for food / day. It also includes dates and length of time at a particular place, flights, flight numbers, addresses and place visiting. The costs in this spreadsheet are based on 2 people.
Here are some tips to make your budget stretch:
- Spend more time in the developing world (where everything is cheap), where you can fine dine for less then a McDonalds meal and stay in Air Conditioed Hotels for the price of a Hostal in a developed country. Although if you want your budget to stretch there you can also look at cheap accommodation and ‘street food’.
- Try to make your stay in the developed countries very focused (i.e. stay there for just enough time to do the things on your plan). If you need to raise your depleting funds (by working), these are the countries to do it in (athough you may need to research any visa requirements and regulations for working in these countries). Also make use of any family scattered abroad. Stay in Hostels or cheap accommodation as this is likely to be the biggest drain on your resources.
This step will refine your plan and itinerary and should be ready to make the necessary bookings as you will have a good idea how much time you need to spend in each region.