You have to be smart about your spending if you want to make your money last. When I first started traveling, I didn’t watch at all on where my money was going. But no matter how I spent, I never been in trouble and never got myself into bad situation. Now I have much more experience with managing my money.
It all starts with the budget. You have to set realistic expectations what you can afford and where you can go.
1. Make a list of main hubs on your way where you will have to be to get somewhere else and plan for what you may be doing in between. Keep it short as plans can change in meantime.
2. Do it yourself! This one is simple. Instead of using “ready made” tours you can plan it yourself. You will save a lot this way.
3. Stay in cheap accommodation as often as possible. Hotel deals, Hostels & couchsurfing. Don’t count on Couchsurfing every night of the week, Things Go WRONG and change, you need to be ready for that.
4. Walk everywhere, take local transport. Of course if you can. Its great for finding places you might have never otherwise, especially being in tour bus.
5. Budget a lot of money for things you love to do. Like local events, drinking or entertainment. You are traveling to experience something special and cutting this part is a shame.
6. Eat like locals. Its so much more fun anyway. Observe where they eat and where they go the most. Not only you will save money but you will experience the best meals. Street stalls and Buffets are the best options. The non-local food is almost always more expensive. And remember to refill water bottles as often as possible but make sure that water is safe to drink.
7. Emergency money. There will always be something you didn’t predict and you have to be ready for that.
8. Research well. You need to know what is average cost of hostels and food in each country and give yourself healthy margin.
9. Be realistic about now much you can “Do” and “See” in the time you have. Getting overexcited and overbooking can be the worst for your pocket.
10. Track all of your expenses. Write down every day at least in general so you are aware where you money is going. This way you will be more careful and see when you need to reduce your spending.
11. There is no such thing as “Must See”. Not everyone needs to like the same sights. Don’t feel guilty if you are skipping some “attractions”. Who would want to skip Eiffel Tower, Niagara, Auschwitz or hiking? It might be not your thing and doing it only to be able to say you saw/did it
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