Round the World (RTW) trips can take many forms. Deeper pocks=more luxurious accommodations. If you’ve read our aspirations for this trip on our About Us page, you know that our plan is to simplify our lives and connect with new cultures (i.e. backpacking, hostel living, meals from grocery stores=cheaper travel). Many people have asked us “how can you finance a trip like that?!” so we thought we’d share some details on how we’ve managed to budget for this RTW trip and our anticipated costs during the trip.
While we haven’t drastically changed our lifestyle, we have made a conscious effort to cut back. Our budget has evolved during the planning process in an effort to be as realistic as possible. Here are some ways we’ve managed to save:
- Make a budget, and stick to it
- Limit shopping for new things (saying yes to new socks when needed, but foregoing the new couch)
- Less traveling (ironic, huh?)
- Brewing coffee at home
- Eating in, not out (rice & beans have become a big part of our lives)
- Creative gift giving (re-gifting anyone?)
- No TV
RTW Trip Expenses
We won’t know exactly how much a RTW trip costs until we’re actually on the road and then back home again, so we’ll share what we’ve learned after the trip is over:) Here are somethings you’ll definitely need to take into account if you go on a trip around the world.
- Travel insurance
- Daily living expenses (this blog has some good examples)
- Transportation (RTW plane tickets vs. pay-as-you-go)
- Visas/passport services
- Loans (student/car/house/loan sharks), if applicable
- Emergency funds
- Return home funds (what are you going to live off of if you don’t find a job?! Those with trust funds may ignore this bullet point….we however do not fall into this category)
We hope this helps anyone who aspires to take a trip around the world. Bottom line is that the cost of a RTW trip depends on a lot of things – where you plan to go, how often you move, solo vs. companion traveling, type of housing accommodations, health needs, comfort level…the list goes on. Feel free to contact us with any questions!