Saving for travel

Do you sometimes dream of a long world trip, a few months away and exploring distant countries? Then you are not the only one. But unfortunately, not everyone fulfills the dream of a world trip, because they do not get the money together. How do you ensure that this does not happen to you? How and how much should you save for a trip around the world?

Save for world trip

Save for world trip

How much money you need for a trip around the world depends on how long you want to go, where you want to go, how you want to travel, what you want to do and whether luxury is important to you. You can imagine that domestic flights cost much more money than a bus without air conditioning. And that a trip through America is a lot more expensive than a trip through Asia. And sleeping in hostels with shared dorms costs a lot less than hotels. Even if you buy your food yourself, you pay much less than if you regularly choose a restaurant.

For a world trip of half a year you have to expect around 8,000 to 10,000 euros. If you go away for a year, it can easily cost 15,000 to 25,000 euros.

Tip! The costs vary enormously per country. Organizations like Lonely Planet and backpackers.nl help you to gain insight into the costs of a certain country and you will find ways to spend less in that country.

Saving for travel – Costs outside the journey itself

Saving for travel - Costs outside the journey itself

What you quickly misunderstand are the costs that you have lost outside of the journey itself. For example, you must ensure that you collect good equipment in advance. You can easily save on this by choosing second-hand items or items on sale, but this still costs a lot of money. You must also ensure good travel insurance, vaccinations and visas. Be especially careful that you opt for travel insurance that offers coverage for the entire duration of your trip. Travel insurance with a long term and good coverage for a world trip usually costs several hundred euros per year. On a insurance comparison site, such as Geld.nl, you can easily find the cheapest insurance for your trip.

During your trip around the world, your health insurance will continue to run, as will your rent or mortgage, car and household insurance and your gas, water and electricity bill. You may consider subletting your house to save on these costs, but you will continue to keep costs in the Netherlands. Keep in mind that on your return you also have to live on. Certainly if you quit your job, you must financially bridge the period until you have a new job.

Tip! Make sure you always have an amount of cash with you, because debit card payments cost money. If you pay with your debit card every time, it costs money every time. In addition, you must not forget to ‘turn on’ your debit card before you travel outside of Europe. The bank will automatically turn this off to prevent skimming.

Save for world trip

Save for world trip

So you need thousands of euros for your trip around the world. How do you get that money together? It is best to make a savings plan to give yourself guidance when saving. Transferring money to your savings account every month generally does not save very quickly. Therefore follow the following steps:

  1. Prepare your budget. What amount do you need?
  2. Add another 10 percent to this for unforeseen costs.
  3. Decide when you want to travel. How much time do you have to save?
  4. Determine the amount you must set aside each month to achieve this.
  5. Choose a separate savings account with the highest savings interest and good conditions.
  6. Start saving!

Transfer the amount that you want to save each month directly to your savings account as soon as your salary arrives. That way you know for sure that you don’t spend it on other purposes. You can also see how you can save extra: take an extra side job or start working paid overtime, save on your daily expenses by choosing fewer extras and transfer your holiday pay and tax refund to the savings account.

Saving for travel – Saving tips

Saving for travel - Saving tips

Here you will find some tips to save for your trip or to use your money in a smart way:

  • Request a contribution for your world trip as a birthday gift or find sponsors.
  • Visit forums where you can find tips from other travelers, for example about what items you do and do not need and whether there are discounts that you can use.
  • Try to work during your trip to get extra money. This means you do not have to save as much in advance or you can travel longer. Even if you only earn a living and a living, this already saves on the costs of the trip.
  • Take a credit card with a positive balance. Use this only in emergency situations.
  • Take your own first aid kit with you, so you can be sure that you don’t have to look for a doctor or pharmacy for any inconvenience. With all the associated costs.
  • Only choose the activities that you really want to do. This way, you can avoid running out of money before you can do the activities that you are really looking forward to.
  • Come home before your money runs out.