Money Saving

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One thing I say to anyone who is thinking about doing a round the world trip is just do it. Book it, commit to it, pick a date, and make the dream a reality. Worry about the details later. But often the biggest detail is money- just how do you afford to be on the road for so long?

Below is the first five of ten money saving trips to make your trip last longer. Some you need to work out before you go, some you can use on the road, and some might not apply to your situation, but keep in mind that you can always find ways to stretch out your trip without necessarily having more money.



Cheaper Countries, Smaller Towns
If you travel to cheaper countries, your cash will go further. It’s fairly simple right? Well, no. Countries where it is cheaper to travel aren’t always cheap- just ask anyone who’s burned through their cash in Rio or Buenos Aires quicker than they thought.

What to do: A nice little trick is to stay off the beaten path. Head outside of the city centers to smaller, less touristy towns and watch the prices of beds, booze and eats go down.

2. Currency Conversion 101

Currencies fluctuate up and down each month, and while sometimes this can be in your favor, meaning you’ll get more dollars for your pounds, it can also mean the opposite- that you won’t get as much bang from your buck. A year ago, that naughty Aussie dollar bought you 1.80- nowadays it will get you a 1.65.

Best to: Keep an eye on fluctuations and change up your cash when the pound is strong

3. Getting Cash

How you change your money is just as important as when you change it. Change it at the airports and most of the time you’ll get a crap exchange rate, a pay a hefty fee or a nasty commission. Change it on the street and you'll be ripped off. Pull it out of the ATM and you might get a fat ATM charge. One guy I met got charged  £10 each time he used an overseas ATM- a greedy bite out of his funds

Solution: Do some research at home and try to find a bank that has an ATM card that doesn’t charge big fees for overseas withdrawals OR has an agreement with banks based overseas.  

4. Pre-Pay your Holiday... if you can


On my first RTW I arrived in Africa broke after six months. Luckily, one of the best things I did before I left was booked and paid for a 9 week overlanding safari from Cape Town to Kenya before I left. There was a local payment I had to make in cash to the guide, but I had bought antiquated travellers cheques for this amount before I left that stayed down the bottom of my backpack for the first part of my trip.  This kept my trip going another three months- without it I would have drunk my way through the money instead.

The warning: Expensive volunteer work is the one thing I wouldn’t prepay for. Some volunteer projects are overpriced and you can easily find smaller grassroots projects to work on while on the road with ease in Africa, South America and Asia.

5. Slave Labour


Volunteer work is a cheap and cheerful way to make your budget go further. A lot of the bigger hostels throughout the world have deals where you work at the hostel in return for accommodation, maybe one meal and occasionally booze. It's not great money, in fact it isn't money at all, but it’s a great way to meet people, save pennies and stretch your trip out.

But: prepare thy liver. Working in a hostel can mean partying VERY hard- and often what you think you’ll save on accommodation you’ll end up spending on booze













Published by Stuart Lodge





Comments  

# Ideas on making money 2014-02-20 23:50
Good information. Lucky me I discovered your blog by accident (stumbleupon).
I have saved it for later!
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