Alright, you want to travel around the world. But you don’t know how much to save up. I mean, how long do you have to wait to lay aside enough before you take the plunge? Guess what? If you budget your trip the right way, you can travel across the world for a year in less than 10 lakh Indian Rupees. You read it right! You can tour your way through the 6 continents (except Antarctica), for 365 days with a budget of less than ₹10,0000. Which means, if you really want to make this dream come true, you need to make sure that your spending plan is prepared beforehand and is on point!

Before we get into the details, what’s really important is that you really need to find out what it is that you need from this around the world trip. You need to look a little deeper into your motives and determine your destinations accordingly. Another point to consider is, how much are you going to spend in a day and where are you going to spend it? Here are a few tips to budget your trip and do it the right way!

Chances are you’re gonna have to bump up your funds a little bit more if you are someone who fancies room-services and elegant restaurants. Budget your plan according to the standard of living you’re going to maintain while you’re globetrotting.

 

1. Choose your destinations wisely.

Your expenditure will mostly depend on where you will be traveling to.A few countries in Europe and North America will be a lot heavier on your pocket. While the daily cost in Italy is 42€-58€ you only need to spend 20€-35€ in the Czech Republic.

So, here is the deal, if you are a little concerned about the money you may want to choose developing countries instead of the developed ones.

 

2. Airfare will burn the biggest hole in your pocket.

Once you have determined your travel destinations, your major expenses, and your desired estimated expenses, you will realize that your airfare will be where you will spend the most. But websites like Momondo, Skyscanner, and Google Flights will make your search a lot easier by giving you the cheapest fare for the flights.

You could also choose to buy an around the world ticket from websites like Airtrek. This gives you the option to go to multiple destinations with multiple flights. However, you need to choose to fly either towards the west or towards the east. Also, you must land at the origin-destination within 365 days.

 

3. Sorting your accommodation out is important.

Hands holding Bangkok Thailand travel guide book with map on the floor

Now that you have reached your destination, accommodation would be the next big thing. If you’re on a shoestring budget, Couchsurfing and Hostelworld will be the best way to go easy on your pocketbook. Couchsurfing is a great way to explore the place like a local and maybe even cut down your daily expenses. Make sure to read the reviews and cross check the references before you send a request to a host on couchsurf.

And if you think staying at someone else’s place is going to make you uncomfortable, you can always look up for a dorm room from websites like Hostelworld. You can also hang out with your fellow backpackers and meet a lot of like-minded people.

However, if you’re looking for some privacy and you don’t mind spending some extra bucks on your accommodation, with websites like Hotels.com and Airbnb you can book a hotel at affordable prices.

 

4. Figure out how much you would be spending on food.

Another major expense that you would want to roughly calculate your expenses upon is food. While eating in lavish restaurants in a foreign country seems tempting, it’s going to impact your daily spendings a lot. Instead, you could choose to indulge yourself in the street food or make your own meal in your dorm. You could buy your groceries from a local market.

When you are traveling around the world, you are obviously going to move about inside the city and explore a lot of places. You need to account for you bucks there too. Most countries have a well-connected network of public transport which will help you go around the city inexpensively. And if you are on an even tighter budget, you could always explore the city on foot.

 

5. Don’t forget about the fun part of your trip.

Activities are probably the most underrated expenses that most travelers fail to consider. Imagine going to Cape Town only to realize you don’t have enough money in your wallet to go skydiving or going to Egypt and not being able to visit the Giza. So, it’s important to list out all your bucket list activities after you’ve decided your destination. Looking up the prices for these activities and entrance fees will ensure that you don’t miss out on anything.

Once you have estimated the expenditure for your travel year, the number may seem big. It’s probably going to take you a while to save up enough money to even buy your around the world ticket. And guess what, you don’t have to save the entire amount at once, you can consider working seasonal jobs. Working while you are traveling gives you the flexibility of spending enough time at a destination before moving on to the next one. It also means you don’t need to save up a huge chunk of money in one go.

Last but not the least, consider the hidden charges like check-in luggage, visas, passport renewal and vaccinations. It is always safe to bump up your budget by a few extra Gandhis to experience the unexpected that you could come across on your journey.

That’s about it then. The number may seem big right now, I know. But so is your dream of traveling the world. They say that traveling is the only thing you buy that makes you richer. So go live your dream and tell us about the memories you make while you are at it!

 

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