In 2017 I made the decision to quit my job in finance and go on a round the world trip. I didn’t know my exact destination or how long I was going for. All I knew was that I didn’t want to come back to London until I felt a longing for home and had the travelling out of my system.
Funnily enough recent data from Sainsbury’s Bank Travel Money has found that people who go travelling for extended periods are typically away for just under six months – an average of 169 days. Which is less than your typical “Gap Year”.
I had personally set aside a budget from my savings and wasn’t planning on working whilst I travelled. For this reason I had a bunch of guidelines to make sure I travelled within a reasonable budget.
In a nutshell the easiest way to save money is to live like a local.
Destinations
First ask yourself how long you’re going away for and how much you wish to spend. You can then start planning your destinations accordingly because believe me, you can make money go a long way in many countries. My choice of region was South East Asia for this very reason.
The Sainsbury’s Bank data shows that Thailand, New Zealand and Mexico are some of the most popular long-haul destinations for travellers.
Thai Baht was the ninth most popular currency in 2018 which is no surprise given that Thailand is a great destination to suit both backpackers and luxury travellers. There’s something for all budgets. I spent a total of one month in Thailand.
Accommodation
Stay in hostels! This may sound like some people’s worst nightmare but as a solo traveller it’s really one of the best ways you can save money while also meeting people. If you’re travelling as a couple most hostels also have private rooms.
Hostels usually offer free breakfast and a kitchen area with cooking facilities and fridges to make your own food. Therefore a local supermarket round is always a great idea.
The next cheapest option is to stay at an Airbnb or a home stay. Staying with locals is not only cheaper than hotels but a lot of the time, they’re happy to be your personal guide for things to do in their city.
Food
My number one rule for food abroad is to eat where the locals eat! Given that you’d most likely have breakfast at the hostel, you can budget for two meals per day max with the daily budget depending on the city that you’re staying in. A lot of locations in South East Asia have world class street food for less than a couple of pounds.
Transport
One of the beautiful things about travelling long term is the flexibility on dates. I used Skyscanner to book my flights and almost always used the “whole month” option to discover the cheapest dates to travel.
Travelling during the off peak season is one of the best ways to save money on hotels, tours and transport. Flexibility is the key to making your budget last longer!
Money
Prepaid cards were my favourite way of dealing with my money when travelling, for example the Sainsbury’s Bank travel money card which allows you to load up to ten different currencies on it.
I used cards in larger cities but in other locations I would take out money in advance to avoid fees which the machine provider may charge.
Activities
A lot of people may get carried away with activities so it’s best to do research about the tours you want to do before getting there and budget accordingly.
However save booking the activities until you get to the destinations as there are a lot of tour companies willing to negotiate on site!
One important thing to note is, remember to take out travel insurance before you travel.
This article is in partnership with Sainsbury’s Bank.
