During the planning of my trip, the most important and also most difficult part to figure out is the finance. One of the questions you get asked a lot is ‘How much did it cost?’ ‘How much does it cost to go round the world?’ Well ask yourself this one question – how long is a piece of string?
The cost of a trip like this varies greatly and depends on factors like how long you are going for and to what places. A month in the states can cost you upwards of £1000 a month and that’s with not doing much. A month in India can cost you as little as £300 a month if you want to live and eat like the locals. It also depends on whether you’re a heavy drinker and whether or not you want to do all the activities available.
A good quote I read on a forum board once was ‘two people could go on an identical trip, never meet each other, and at the end of it compare budgets; there could easily be £1000′s difference.’ It’s what you do with your money that matters.
I decided that I wanted to be able to do nearly everything I wanted to without taking the piss. The fact that I have already done a bungee jump and skydive already (fun but once is enough for me!) lightens the cost a little. I am also not a very heavy drinker and I have learnt how to budget and get by on nearly nothing after paying two peoples bills for months on end!
After much research the general consensus seems to be that £1000 is how much you should budget a month for accommodation, food, travel, activities, everything all in. Yes you can easily get by on less in Asia but sometimes you will spend more in the US, Oz and NZ and it also gives you a nice buffer.
Travelling Budget
So, I plan to go away for 12 months so that makes £12,000 my basic travelling budget. (You’re starting to see how this can add up now aren’t you). I know I have already paid for Trek America but that doesn’t include food, extra lodgings, some activities or my independent travel in New York and Los Angeles, so I still added on a grand for the US. I have a feeling that I may be going over the top with my budgeting but I really want to make it the trip of a lifetime and what’s the worst that can happen? I’ll come back with extra money!
Flights
Round the world flights can be bought for under a grand these days but the average is £1300 – £1400. Mine came in at £1498 which includes an extra stop to Delhi and free flight changes so I’m quite happy with this.
Trek America
I don’t like doing tours as I think they are overpriced and you can easily do them independently but I did Trek America a few years ago and I absolutely loved it. The US is also not the best place to backpack around independently and meet new people. This cost me £1403.10.
Insurance
I have estimated my insurance to come in at around £300, unfortunately it’s quite expensive as it’s including USA.
Travel Kit
This can vary greatly depending on where you are going and what you already have. I personally need a new backpack and I think I need a new sleeping bag as my current one is only season 1. (Think camping in Canada and the northwest US). I also bought a new camera which has whacked up the price. The little things like guidebooks also push the price up but I’m hoping to get these from the library. My estimate is £300
Immunisations
Not a worry for me as I have already had them done unless I want to have rabies which I am currently umming and ahhing about. Most people can get theirs done free on the NHS.
Coming home fund
I want at least £1000 in my bank when I come home in case I don’t get a job straight away. Whats worse than having the time of your life for a year and then coming back to live with your parents and not even be able to buy a beer?
So this is how it all totals up:
Travelling Budget – £12,000
Flights – £1498
Trek America – £1403.10
Insurance – £300 (estimate)
Travel Kit – £300
Coming home fund – £1000
Total
£16,501.10
As you can see it’s not exactly cheap! But if anybody else is looking at going travelling long term, it can be done for so much cheaper. Cut out the US (apart from a stopover in Los Angeles) and you save yourself a fortune. I also think hope that I am ridiculously overestimating the amount of money needed. It doesn’t matter that much to me as I can’t really go any earlier than planned (a month earlier perhaps) so if I was desperate to go sooner I would just make do with what money I had.
I plan to keep a diary of my daily costs whilst I travel to help other travellers in the future.
