How Much Money Do I Need For Long-Term World Travel?

Ask Rolf: Vagabonding traveler Rolf Potts answers your questions about travel

05.30.07 | 9:03 AM ET

Rolf Potts

Dear Rolf,

I am a Navy corpsman with Marine Corps infantry and am wondering: How much I money should have “on reserve” for a long-term trip? While I really want to travel the globe and meet people from around the world, my greatest fear is getting stuck without the resources to get me unstuck.

—John

Dear John,

How much money you should have “on reserve” depends on how long you want to travel. Not counting airfare, some people can stretch $1,000 into three months in some parts of the world. Other people would blow through that in less than a week. So I’d say there’s no real standard for determining how far a certain sum will get you, because everyone spends money in different ways.

You don’t necessarily need a huge income to get travel money. The key is simplifying your life in such a way that you can save a big chunk of whatever money you happen to make. This means buying less new stuff, eating out less and not blowing too much money on partying. This might make life a tad less fun while you’re saving up money, but it will pay off richly in travel time—and of course extended travels are worth far more in the long run than any restaurant meal or round of drinks.

Just to throw out a general figure, I’d recommend saving up $5,000 for your travel fund. Managed properly, that’s enough for three amazing months in Europe, or one mind-blowing year in India (or something between three months and a year in other parts of the world).

As for “getting stuck” overseas, that shouldn’t be a problem if you manage your money conscientiously. If you find yourself in need of more money out on the road, however, there are plenty of travel-jobs to be found—from fruit-picking to dive-mastering to working a hostel desk. Few of these jobs pay well, but they should be enough to earn you a little travel cash while enhancing your experience of certain parts of the world.  For more information on overseas work, check out the overseas work resources in my book.

Send your questions to .(JavaScript must be enabled to view this email address). If you want to know whether Rolf has already answered your questions, see the Ask Rolf archive.

Tags: Budget Travel, Long-Term Travel, Money


8 Comments for How Much Money Do I Need For Long-Term World Travel?

sami 06.03.07 | 12:11 PM ET

Iwant to volunteer abroad are there any programs without high fees in Moldova

Craig of Travelvice.com 11.18.07 | 2:43 PM ET

Budget US$25-30/day for food, accommodation, transportation, and entertainment (Internet, included). Add US$10/day if you plan on drinking liquor regularly.

Dubai 02.21.08 | 5:45 AM ET

I would set my budget a little higher just to be on the safe side.

unknown 04.16.08 | 2:32 PM ET

I say to survive in europe for a year, travelling you would need about £3000 which is about $6000 it might sound a lot but it is a safe amount to go by, maybe u could work while your travelling, to save a bit of extra money.

CasCad 05.29.08 | 7:17 AM ET

Thanks for usefull info guys=)

doc 05.29.08 | 11:10 AM ET

so what does being a navy corpsman with the infantry have to do with anything just ask ur question 1/4

Fx Fars 09.13.08 | 6:15 AM ET

Hi!
Thanks for sharing.
Very effective post specially for the travelers to finish their plan.

amy 10.28.08 | 9:24 AM ET

thanks for share

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