This sentence is not found in other texts – Long-term travel is what many people dream about – the opportunity to go around the world at your pace, to discover different cultures, and to live outside the boxes set by your life. But turning that dream into a reality often centres around one main consideration: budgeting.
To be able to travel for months (or years) you need more than enough save up. It requires planning, wise choices, and financial responsibility. It doesn’t matter if your journey will take you backpacking across continents or a slow-travel life: here are the 7 long-term travel budgeting tips to make your money last longer and the journey further.
1. A realistic travel budget before you go
A detailed, realistic budget is one of the most important steps in your long-term travel planning. Calculate your monthly costs based on the places you want to loop around. Spending average per day in every country then validate those under the following categories:
Key budget components:
- Accommodation
- Food and groceries
- Transport (local and international)
- Travel insurance
- Visas and entry fees
- Entertainment and tours
- Emergency fund
Consult the Internet using different sites, such as Numbeo or creative budget travel blogs targeting costs for your audience by country. Giving you some leeway and overestimating a bit to plan for any unexpected expenses.
Example:
Depending on where you travel in Southeast Asia, your average budget for a day might be around $30–$50. In Europe or North America, somewhere between $60 and $100+, depending on your city.
2. Option for affordable destinations
It is a worldwide struggle, yet some countries are easier to sleep in than others. So, picking places where your money goes a long way can be significant. Concentrate on areas that provide the most for travellers who can stay long-term.
Best Places to Live for Long-term Travel on a Budget:
- Southeast Asia (Vietnam, Thailand, Cambodia, Indonesia)
- Eastern Europe (Georgia, Romania, Bulgaria, Ukraine)
- LATAM (Mexico, Colombia, Peru, Guatemala)
- South Asia – India, Nepal, Sri Lanka
The regions provide crazy experiences, but with low costs of accommodation, food, and transport. Spend time on the beach and explore the culture and history without breaking the bank.
3. Slow Travel to Save More
Slow travel – of which staying longer in fewer places is one aspect – is one of the best ways to stretch your travel dollar. If you keep really moving, you will inevitably pay a lot more for transport, reservation fees, and excursions.
Benefits of slow travel:
- Tidy discounts for long-term stays (weekly/monthly rentals)
- Fewer transportation costs
- Deeper cultural experiences
- Chance to prep your own food and shop within the area
For example, rather than spending a month jumping between five different countries, just pay a little more to stay in one spot for 4–6 weeks. This has the added bonus of saving significant $$$, reducing travel burnout both in terms of resources and taking time from your contacts and for connecting with your global partners at a more intimate level.
4. Track Your Expenses Daily
Logging your expenses helps you stay within your budget. To track each of your expenses (coffee & snacks, accommodation, activities, etc), use budgeting applications or an ordinary spreadsheet.
Top apps for travel budgeting:
- Trail Wallet (iOS)
- TravelSpend (iOS & Android)
- Spendee
- YNAB (You Need A Budget)
Knowing where your money goes on a day to day basis gives way to spotting trends in spending and making adjustments. It also help in minimizing the chances of sudden depletion of funds.
5. Hotel Alternatives To Save Money
For those travelling long-term, accommodation is most commonly the key ongoing expense. Instead of booking a traditional hotel to stay to save some bucks (or not), explore your options.
Affordable hotels:
- Hostels – Great for singles and making new friends
- Guest houses & homestay – Provide cozy stay and local knowledge
- Holiday accommodation – Suitable for those more extended visits (Airbnb, Vrbo)
Free accommodation in return for looking after homes or pets (TrustedHousesitters)
Hosts offer free accommodation, and sometimes basic meals, in exchange for volunteer help (Workaway, Worldpackers, HelpX)
Not only do these save a few bucks, but provide extra cultural experience and settling with locals as well.
6. Eat Like a Local
If you are, spendy dinner out every evening will quickly devour your budget, particularly in tourist regions. Instead, eat like a local and shop where the locals shop.
Ways to save on food:
- Street food are usually tasty and very low-budget
- Eat local and make it yourself
- Steer clear of tourist traps for restaurants.
- Taking reusable bottles of water and snacks
- Lunch specials or set-price meals.
This not only saves you a few bucks, but also provides you with an insight into the real flavors and traditions of the locals that are often missed out on by the restaurants that cater to tourists.
Example:
A local plate of pad Thai from a street vendor will run you $1.50 in Bangkok, and the same dish in a tourist restaurant can cost $7 or more.
7. Look For Opportunities Where You Can Work While Traveling
Learn to travel long-term without saving money all the time. If you’re traveling on a budget, earning money on the go can not only stretch your funds and make for a longer trip, but it can also steer you in the direction of a new lifestyle.
The best popular options to make money while traveling:
- Freelancing (writing, design, marketing, etc.)
- Work from home ( customer support, tech support, virtual assistant)
- Teaching English online
- Cosmetic surgery blogging or even content creation (having a following)
- Temporary seasonal work (hostels, bars, farms, etc).
- Online courses or digital products
For example, websites such as Upwork, Fiverr, or Remote OK have remote jobs you can do. Long-term travel is often combined with remote work to be able to live cost-effectively in fewer countries and still have an income.
Disclaimer: If planning to work abroad legally, check visa stipulations.
Final Thoughts
And long-term travel is not going to cost you a thirty-year mortgage. Surcharge: Travel slowly and you can be travel anywhere you want without poking a hole through your savings; a little planning, a little day-to-day baby discipline and a little creativity goes a long way.
If you implement a realistic budget, opt for cheap destinations, travel slowly, and are mindful of your expenses, you will be more equipped to experience your trip worry-free. Sprinkle in cheap places to sleep, eat locally, and even some revenue generation – and you have an ideal recipe for further fueling adventures for however long they last.
The world is a big place, eager to be filled. Travel far, travel wide but leave the cents, Give every dollar a chance to work for you.