Before you set out for your journey, there is one question that comes into mind – How much money will I be spending during the trip or how much would this round the world trip cost? Well, it is quite pre-mature to directly ask yourself this question at an early stage, but there are certain factors which you should consider while deciding upon how much money you will be spending.
Your spending would depend on the length of your journey. It depends on the number of days/months that you would be on the road. So one can get a rough estimate of their daily budget and calculate the money that you would require to complete the entire journey. The key in case of daily spending is to keep the right balance during the entire journey. There should not be a situation where you’ve spent a significant part of your budget in the initial phase of the trip and are left with lesser money for the remaining phase.
The type of destinations in your itinerary also matters a lot as far as spending goes. It goes without saying that there are certain destinations that are very cheap and there are those which are quite expensive. Countries like India, Vietnam, Cambodia, Mexico, Thailand, Bolivia and Bulgaria (an exception in Europe) along with others are quite cheap and are easy on the pocket. On the other hand, most of the European destinations are handsomely expensive. Therefore, it depends on the destination of your visit. A handsomely long stay at a cheaper destination would still cost you less as compared to a short stay at an expensive destination.
Having too many destinations and stops in your itinerary also affects your spending. It is best to settle down at a place for some time and explore the places around it. Too much frequent hopping across destinations means that you might end up spending quite a lot on accommodations, travelling etc. So give yourselves sometime to explore the place and this way you would not be spending too much. It is also great to soak in the feeling and ambience of a particular place and stay there for a reasonable time so as to get to know that place.
The aspect of overland travelling is sure to impact your spending on the journey. It depends on what kind of transportation you choose while travelling within the city and also while travelling from one city to another. Public transportation or shared modes of transport are way cheaper than going for personalized transport. For overland travelling, there is a wide range of options that are available – buses, trains, cabs, ferries, boats, hiring a bike or even a bicycle. One can get to see the interior of the country without having to spend too much. Moreover, a bus or a train journey would cost you way less than taking a flight.
Next important factor is your stay. Would you prefer to stay in the main city or a place which is away from the hustle and bustle of the city. Accommodations are major parts of a city would cost you more as compared to a place (say a small town or village) nearby. The level of accommodation varies from place to place and one has to make a decision whether they want to go for a decent accommodation or a luxurious accommodation. Staying in a sprawling hotel for long is sure to burn a hole in your pocket. So it is best to throw in the element of budget stays at lodges, hostels or guest houses. You can always balance the two types of accommodations which goes relatively easy on the pocket.
Spending on food and drinks is also a factor which has to be considered. There are multiple options that are available in terms of food. One can always go for street food from hawkers and even decent restaurants that serve up the best of local cuisines and delicacies that are relatively less expensive. You can gorge on those exquisite and exotic dishes from a sparkling and jazzy high end restaurant or hotel once in a while. These days, outlets of major food chains have opened in different parts of the world.
If you plan to take up any adventure activity, it is sure to impact your budget. Adventure activities such as bungee jumping, scuba diving, sky diving, skiing etc do not come cheap and one has to shell out a handsome amount of money to pursue these activities. It is best to decide upon how frequently you plan to do adventurous activities and find out how much they would cost you. It is best not to get surprised at the amount you will be shelling out on these activities.