The first thing to figure out would be how to finance it. No money, no travel.
Taking a trip around the world is not something that just happens to you. You have to be the one to make it happen. I have searched far and wide on Google and travel forums to find any tricks and tips to bring in extra dough. The truth is, you have to be willing to put in that extra work. You have to be willing to work an extra job or do other things that bring in cash. There is no ‘easy way’ as much as I have wanted there to be. Here is what I’m doing to save and my idea of how much a trip like this will cost.
So how am I saving money?
- Working Two Jobs
For the past 10 months I have been working two jobs, averaging 65 hrs. a week. I’m a private Nanny for a family in Chicago and on Saturday and Sunday I serve at a brunch restaurant downtown. Working two jobs has not been glamorous but it has been vital a necessary to get me out of debt and has allowed me to be independently financially stable for the first time in my life. Believe me, I’m exhausted most of the time, but I power through. One thing that is helpful is that I have a lot of friends at my serving job. Working with friends makes the time go by much faster and gives you more of a reason to go to work than just for the money. My suggestion is, if you have to get a second job to help finance your life or travel try to make friends there or try to get a job at a place a current friend works. Even though I have worked 50 hrs. already by Friday night, I don’t really mind getting up a little early on the weekends to see/hang out with friends and make some money. Thankfully, my weekend gig is understanding of my work schedule. Of course, there are days where I need a day off for my sanity. For this reason, I have asked the restaurant to only schedule me if needed. I still work every weekend but might be the first one sent home if its slow or they sometimes will only schedule me for one day a week, but that’s rare. Additionally, if I try to trade shifts or request off with short notice, they try to accommodate me. I’m very grateful for the flexibility and it’s one the reasons I’ve been able to keep up both jobs. Having two incomes has been vital to making this possible and has taught me a lot about good work ethic. I can’t even begin to describe how rewarding and comforting it is to know that I’m doing something every day to earn money.
- Using a money saving app
One way I’m also saving money is by using an app on my phone called Qapital. It’s a money saving app that saves money for you according to rules you have set up for your bank account. You can also set multiple goals to work toward and have different rules for each goal to save money. I personally have goals titled ‘Get Outta Here,’ ‘Emergency Funds,’ and ‘Travel Gear.’ I have different goal amounts for each one and rules for saving money. Your rules basically move money into a saving account based on your bank account activity. For example, every time I order Pizza Hut, my Qapital app moves $10 into my savings account called ‘Get Outta Here’ because I bought a ‘guilty pleasure.’ This is one of many modifiable rules within the app to help you save. The savings and transfers are automatic as long as your bank account shows at least $100 in it. I’ve been saving a lot of money with the app because you set and forget the rules and it forces you to save.
- Trying not to spend money on unnecessary things.
This is obvious. Everyone has different things they do to try to cut back on spending. It will never be the same for anyone. This also won’t be applicable to everyone because not everyone spends money on unnecessary things. Some people just don’t have money to spend in general. Fortunately I’m at a point in my life where there are unnecessary things I spend money on occasionally, that I can cut out of my budget.I have no hard or fast rule for trying not to spend. What I’ve been doing is taking a day to think about what I want to buy or only bringing a certain amount of cash with me if I go out or shopping, etc.
- Selling stuff
Fortunately, I live a block from Plato’s Closet. I’ve been consistently taking old clothes there to earn extra cash and have been buying my clothes there as well. I’ve also listed things on craigslist and Facebook Marketplace.
How much do I have to save?
My current goal is to have $2,000 USD saved before traveling. This number might change as I continue to research. My goal amount for the entire trip is to keep it below $17,000 USD. Meaning each day on average will cost an average of $50 a day. There will be some days that are more expensive than others and there will also be days where I won’t have to pay for accommodation (i.e. WorkAway, volunteering).
Why is my savings goal so low?
- Remote work
Well, I’m hoping to be able to work remotely from my computer while traveling. While searching through the Girl LOVE Travel Facebook group I came across a recommendation to teach English via video chat. The company is called VIPKid and pays between $14-$22 per hr. I have signed up but still have to schedule my video interview. My thought is, that if I can work remotely, I can finance the trip with that income while also having my savings to fall back on
- Earning amount > Cost of living while traveling
If I average 25 hrs. per week with this job, I will be bringing in approx. $350 USD weekly and that’s low-balling my income potential. So if I make $350 per week or $1,400 per month I believe I can comfortably get by. Again, that’s if I low-ball my earning potential. It’s also important to remember that while traveling I will not be responsible for rent or any bill other than my student loan payment, which is what makes this earning amount doable.
- Working for Accommodation
I’m also not planning on having to pay for all my accommodation. While researching, I found a site called Workaways.com. The goal of the site is to connect travelers to people or organizations that will host people in exchange for work. The type of work varies, and includes farming, house work, or immersive volunteer opportunities that allow you to learn about a subject or an injustice. There are Workaways in almost every country! This site will be vital when I’m planning my trip. Not only will I receive accommodation and save money, but I will be able to interact with locals, and volunteer my time to a worthy cause.
Sounds good on paper…
Hopefully this pans out in real life…