How To Travel Around The World On A Budget (ebook) by saud saleem

Author:saud saleem [saleem, saud]
Language: eng
Format: epub
Published: 0101-01-01T00:00:00+00:00

Developing a Budget

"You can't just shoot everything, even if you have a big budget." Debbie Allen's

This is where things get technical. Making a budget plan is necessary because it will show you how much you should limit yourself on a daily basis on average. This will keep you from overspending and keep track of your expenses. On the plus side, if you overestimated your budget, you'll know if you have money to spare for an exciting adventure you just discovered and don't want to miss.

As is customary, the first things to consider are the fundamentals: food, lodging, and transportation (if you will be on the go every day). In this stage, research is required. Knowing the average daily cost of living in each country and city you will visit is essential. This will give you an idea of how long you can afford to stay in a certain location, or how much money you need to save to stay there for a certain period of time. Furthermore, if you read forums and the comments section of articles, you may get an idea of what's expensive and what's cheap in your destinations.

The second step in developing a budget is to list all of your planned outdoor activities if any exist. Snorkeling, diving, city day trips, walking tours, and other activities are included. If you do not find an existing itinerary with expense estimates on the web (which is quite rare, unless you plan on going to remote places), you will have to consider and gather additional information on the following: transportation going there, duration of the trip, which will then lead to your food estimation, and the guide (if you will need one).

Aside from that, you must budget for miscellaneous expenses. There will be many surprises along the way, and you will always need money in some form or another to settle things.

Emergency funds must also be prepared and are best kept separate from the overall budget. Please keep in mind that this is distinct from your miscellaneous expense fund. It is best to keep this in your bank account and not withdraw it as much as possible. You have something to fall back on if something bad happens to you on the road.

The following are the key concepts in developing a budget plan:

Determine the average daily cost of living in each city or country you intend to visit.

Make a list of all the tours, adventures, and experiences you want to do in each location. Find itineraries for each, and add them to your daily budget.

Set aside a few dollars above and beyond your budget for miscellaneous expenses.

Create an emergency fund.

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