Updated: Jun 16
Do you often end up spending money without keeping track of how much and having your bag filled with receipts that you never use? Me too! But im here to show you how I created a travel budget to keep my spendings at a minimum so I can keep traveling + how you can do the same!
I recently posted a video on Instagram of me typing in my daily expenses in my travel budget. Afterwards my inbox exploded with questions all about the same ting - MONEY!
'How can you afford to travel?' and 'How do you manage your money?' is some of my most frequently asked questions I get when I talk about travel on my Instagram. So today I am here to show you how I make my travel budget and how you can do the same!
First of: Traveling doesn't have to be crazy expensive!
There is a huge misconception that you need a lot of money to travel - you don't.
Some people have even travelled the world for under 5$(34 kr.) a day (Read this inspiring story)!Even traveling touristy places like Bali, where im traveling right now, can be done much cheaper than you would expect! When I googled 'Bali budget' to do some research for this blogpost I clicked on 'Bali travel costs and prices' by www.budgetyourtrip.com - and to my surprise it said that Rp892,611 ($63 or over 400kr.) is the average daily price for traveling in Bali! That is 4x the amount that I spend daily! You don't have to spend this much unless you are planning on staying at a resort and eating at expensive restaurants everyday! If you are a young and broke traveller like me, but still want to see the world there are plenty of ways to do that much cheaper.
A bit about my money situration at the moment and how much I am spending
At the moment I am taking a 'workation' in Bali to build this new blog and finish my documentary before continuing my traveling trough Asia and back to europe. Because of that I am spending money on hotel rooms instead of hostels or Workaways and eating more fast and convenient food instead of hunting down the cheapest places. But even with these extra luxury expenses my spendings per day is still only around $20(136kr.) pr. day. In the future my budget will be maybe half or a quarter of this. This is just to let you know that the $20 dollars that im spending everyday on Bali is not necessarily how much you need to spend. You can easily do it for $10 by eating local and staying in cheap hostels.
Okay back to what you came for: My monthly budget for February
So this is what my budget sheet looks like. I use the app Numbers for Mac (kind of like Excel) that makes it manageable and easy for me. I just customized an already existing Numbers template and filled in my expenses - You can download my sheet here if you want (Use the coupon code 'free'. In the sheet you can make categories like food, hotel and yoga and Numbers will automatically make a pretty overview and diagram to go with it - Easy right? If you don't have a Mac you can totally just use my budget as inspiration and create your own in excel or Google drive.
My spendings explained in detail:
So as we are only a week into February my budget is still a little unbalanced, but you get the idea.
Food: Im trying to eat at the more local restaurants and keep my daily spendings on food below $10(68kr.), but I also sometimes go to some of the more expensive, western and vegan restaurants. You can easily just eat local and only spend $5(35 kr.) on food everyday.
Hotel: I have prioritized to stay in small hotels or Inns to get peace and quite to work and relax. As accommodation is pretty cheap in Bali I was able to find places for under $10(68 kr.) dollars pr day. But if you don't mind being social or maybe are on a tighter budget you can easily find hostels for under $5(35kr.) pr. night here!
Experiences: I bought a 10 class pass for The Yoga Barn that I will use for the whole month, making it $73(500kr.) for a month. Quite a large amount of money in my small budget of only around $600 (4.000kr.) pr. month, but with Ubud being famous for the yoga I decided it was worth it. But you can go ahead and cut this one out and join the free classes at The Yoga Barn or in some hostels. I also went to the Monkey forest for $6 dollars(40 kr.).
Transportation: I don't have any spendings on transportation at the moment(except for the random Grab here and there) as I walk everywhere, but im looking to rent a scooter soon for around $45(300kr.) a month.
There you go! That is my quick guide to creating a travel budget and a bit about what I spend my money on. Hope it answered your questions or else please write me!