As I travel I’ll publish monthly audits of my expenses along with some notes on what traveling looks like at that cost. My motivation for this is primarily a selfish one: I think it’s the best way to manage my money effectively. Two of the most powerful influences for behavior that I’ve discovered are awareness and social pressure. And effective money management is among the things that has allowed me to live an incredibly privileged life which has been chalk full of amazing experiences.
As I travel I’ve noticed the temptation to spend like I’m on a two week holiday but I think it’s more accurate to view what I’m doing as living in different places for a little while. Strange foods, exotic drinks, and the always present opportunity to do/see things adds to this feeling. Not to mention the fact that I’m surrounded by people who are often on a two week holiday. Add an unstructured schedule and constantly changing currencies and prices and it makes it easy to not be aware of what I’m actually spending.
I enjoy seeing where my money goes because it shows me exactly where my priorities are and it helps keep me in sync with where I want to go in the future. I’ll write more about this in a future post along with the exact process I’ve used for years that I developed during my time managing millions of dollars in revenue, investments and expenses for a bootstrapped start up as the company’s general manager. It’s been one of the most powerful and rewarding practices I’ve implemented in my life, right up there with meditation. No matter how much you are earning (or spending), I am willing to wager you can benefit from the practice of bringing more awareness to your finances.
I’ve also enjoyed, appreciated and been inspired by other travelers who have shared their accounts and given me and others an honest look into what it costs to travel if we want to do the same.
I’ll try to provide notes at the bottom on what is included (or not included) to give more color when possible. For April I’ve started on the 19th which is when I left Blagdon and began traveling solo in earnest.
If you have money questions about travel, money management or how I mentally and practically approach the topic I’ll respond to any questions in the comments or you can email me at email@example.com.
Travel Audit April ’16
Countries visited: Scotland
Total Travel-Related Expenses: $723.58
Daily Average: $60.30
|Travel Related expenses|
What this looked like:
- 2 nights in Edinburgh, 8 nights along the West Highland Way, 1 night in Glasgow airport 1
- Comfortable + clean accommodation in dorm style (4 – 12 bed) rooms
- 60/40 between groceries and eating out.
- Very little booze or coffee (coffee often would be included when I had a hot breakfast)
- Occasional hitchhiking
- Days spent mainly walking
- No tours or nights out
General Thoughts: The UK is expensive! I was surprised to see transportation take up a quarter of my expenses. I was fairly spartan about food and activities and spent most my time walking which I happen to like a lot. I ate out more often than I would have otherwise out of necessity while walking the West Highland Way. Things have eased up as I start to head East (writing this from the Czech Republic). I expect the UK will be the most expensive place I visit for a while.