Budget for your Backpacking trip

Plan your Backpacking budget, experience

Budget for your Backpacking trip

November 14, 2013 5 Comments

Plan your Backpacking budget, experience
Working out your backpacking budget

A budget is basically a way to plan what you want to do and how you want to do it based on the money and other options you have at your disposal.

How do I Budget for Backpacking?

Budgeting is very important to any Backpacker as with out a guideline there are a number of things you won’t know about ask yourself some simple questions:

• How long you can travel for?
• Can make it to the end of my trip?
• What do I want to do?
• What if…..

Many people go travelling for a year and are home after 3 months so be careful.
Look at where you are going to go and then where you are going to go from there; here are some tips to help you with your budgeting

Budgeting Tips

Budgeting for Fixed Backpacking costs

These are easy to budget for because you have either already paid for them or you know what the cost is.

Common examples – fixed costs

• flights
• insurance
• transfers
• Visas

Take the total budget and minus the fixed costs what you have left is what you have to play with.

Budgeting for other backpacking costs

With a little bit of research it won’t be long before you can work out some of the other costs,

Common examples – other costs

• Cost of accommodation
• Transport
• Food
• Drink

Work out how long you will be gone for and multiply the amount of days by the average costs and that will give you a good idea as to the likely cost of these essential items.

Remember hostels can offer discount rates on longer term stays provide work options and will give you the opportunity to prepare your own food. This can save you a fortune and will give you more to spend on the experiences part of your tip.

Budgeting for Backpacking activities

A lot of the activities you will want to experience will have a price, if you are concerned then you can find it out before you go and budget.

You will be surprised at the amount of things there are out there that you can see and do for free and sometimes you may decide to do that rather than the more expensive option and still have a great time.

If it is a must do part of your itinerary you may be able to get an advanced booking discount and if so this can form part of your budgeted fixed costs Advanced bookings are great assuming you don’t decide to change your plan and stay somewhere longer than initially expected.

Backpacking and Working

In some places you may be able to work; this means you can preserve your own cash or even earn a bit more. Some places let you work for your accommodation, food, beer, trips etc this can be extremely useful when you are down to your last £.

NB In some countries you will need a VISA to work if you not working the shady cash in hand angle this can be an important part of your plan or a way to deal with your what if’s.

Save some budget – Stay with people when Backpacking

This may sound obvious but if you can stay with friends and family along the way the chances are that it will be free and save you money which is great for any budget!

Even the most hardened traveller can do with a break!

If it has been a long trip or you have had a tough time of late this can be a great morale boost. You will have a chance to recover, share a tale or two and get yourself feeling like you can face the world again.

Generally people will be so happy to see and hear from you they will let you stay free or on the cheap, cook you a meal or two and take you out and about hassle free for a few days.

Check out the hostels and tourist information

These people will know the area well and be able to offer discounts and advice for a whole variety of things; if in doubt check em out!

Calculate you backpacking budget

Here are a few basic calculations to help you budget for you backpacking trip:

Calculate other costsCalculate Total BudgetBudget surplus or shortfall?
Estimate the other likely costs of your trip

e.g Cost of accommodation, Transport, Food, Drink (The average daily spend)

Total days of your trip X Average daily cost = Average total other cost

This is a combination of the fixed and estimated costs

You will need to add in any other know costs e.g costs for activities (you can research these before hand)

Total fixed costs + total other costs average + Total activity costs = total budgeted outgoings

Making this calculation will tell you if you are able to achieve what you want to do with the budget you have available.

Total budget – total outgoings

This calculation should leave you with a + figure!!

If this is not the case you either need to increase your budget, reduce some of your costs or work along the way to support your travels

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.