HomeOne reason that people stay away from extended travel is because they believe it is expensive and think they won't save enough. That is not true. One of the greatest myths of travel is that it is expensive. People think that to travel you need to have a lot of money because all people see on TV are advertisements for fancy vacations and think all travel is like that. But it isn't. In fact, travel is quit cheap. You can travel around the world for under $15,000 dollars for one year of travel. If you only go cheap areas of the world, you can do it for even less.
$15,000 dollars sounds like a lot of money right? Sure it is but that is covers all your expenses. You probably spend more than that already. It also sounds impossible to save but you're wrong again. There are many ways to save that amount of money. It simply requires persistence and making saving money a habit and priority.
$15,000 dollars is about $1,200 dollars per month, which is a lot but manageable if you control you're spending and cut your bills. To save that much money you need to become frugal and cut out your extra spending. It is mind blowing how much money people waste each day. Cut out your extra spending and watch your bank account rise and rise.
The easiest things to cut out are your vices. One cup of coffee a day is $150 dollars a month. A pack a day smoker would save $210 dollars per month. A typical night out on the town can cost around $50 dollars or more in a big city, and since most people go out two nights a week, you could save $400 dollars. Already we have saved $400 or more dollars, depending on your habits.
Those are the low hanging fruit though. The real way to save money is to eat in and consume less. If you are an average person, you probably eat out 5 to 7 times a week. If each meal costs an average of $20 dollars, that is between $400-$560 dollars per month. Eating can cut your cost down to $80 dollars per week. That saves you a lot of money, since you probably already do some grocery shopping too.
Cut out your consumption and buy only things you need. That is the real secret to saving for a trip around the world. Buy only what you need and save the rest. People spend hundreds of dollars a month on little things that they don't really need- DVDs, music, movies, drinks, and a lot more. All of that adds.
If you only eat in and go out once a week, you will only spend $340 per month and save over $800 dollars per month just by doing those two things. To save more money, move into a smaller apartment or get a roommate. Even consider moving home if you have that option.
If you follow these tips, you will be able to save the money you need per month for your travels by simply living frugally and smartly. Your friends may tell you you are living like a monk and, though it may feel that way a lot of time, picture the reward you have coming to you- one year around the world. The price will be worth it.
About the Author:
Matt is a long term traveler who has spent 3 years traveling the world. For more information on rtw tickets, check out his site on how to travel the world.
