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10 Budgeting Tips for Long-Term Travel

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You have John and Jayme of Gnomad Home to thank for the article before you. Yes, it was writting by Lauren & Jesse of The Wandering Stus, but it was John and Jayme who suggested they reach out to me about writing a guest post. Since I’m always open to quality guest posts, I was excited to have Lauren and Jesse submit a piece. These two know what to do to save money in order to make long-term travel possible, and today they pass that knowledge on to you.

First, let us just tell you how FREAKING EXCITED we are that you are reading this! Why? Because it means you are toying with the idea or planning to hit the road to live that long-term travel life and that, our friend, is AMAZING! We’re here to guide you through budgeting tips for long-term travel.

What makes us qualified to give you information on budgeting tips for long-term travel?! Well, we did it. We quit our jobs and lived almost one year on what we saved. So, we know what  you are going through. As exciting as it is, it can be equally overwhelming. Well, that’s why we are here, to give you 10 budgeting tips for long-term travel. Dun dada, dun, Wandering Stus to the rescue!

#1 Set Your Daily Budget

First things first, you can’t budget for long-term travel if you don’t set a daily budget. You need to do two things:

  • Figure out what suits you. Can you get by with no aircon in the bedroom? Are you fine sharing a room with strangers? Do you need certain amenities? Basically, you need to determine what kind of traveler you are; a “shoestringer,” luxury inclined or somewhere in between?
  • Where are you going? The cost of living between continents and countries can vary, and sometimes there are big variances.

We were traveling to Southeast Asia and Nepal. We deemed ourselves “shoestringers” who would probably need to splurge every now and again. Based on the countries we were going to and what our needs were, we ended up budgeting $50 a day.

#2 Eat Cheap

A great way to save some cash is eating cheap. Street food is not only some of the tastiest food, but some of the cheapest you’ll find. Plus, the whole experience of eating street food will give you all the “local” feels.

Another way to eat cheap is going grocery shopping and making food yourself. If you have a place with a kitchen, awesome! Make enough food for a few meals. If you don’t have a kitchen, you can still make food – think peanut butter & jelly sandwiches, toast with Nutella, etc.

#3 Stay with Friends

It’s always cheaper to stay with friends. Think hostels. Learn from us, the folks who always thought staying in hostels in the shared rooms was the best and cheapest option to go with. While yes, it is cheaper than a hotel, it is not always the cheapest option. We actually found it cheaper to book a “private room” or “family room” than reserving a bed in a shared dorm. If you are traveling with two other people, take a look at some private room options. We think you’ll be pleasantly surprised.

#4 Take Overnight Transportation

Taking overnight transportation may not always be the most comfortable or most restful experience you’ll have, but it will save you some cash. Think about it. If you travel during the day you 1) waste a day of exploring and 2) have to pay for accommodations once you arrive. If you take overnight transportation, the transportation is your accommodation for the night and you don’t miss any exploration time.

#5 Know What the Per Person Rate Is

If there is any sort of haggling tip you need to know to save some cash it’s never start a negotiation by asking for a group rate. Go in asking what the price is for one person FIRST. Once you know the per person rate, start your haggling.

If you know the per person rate, then you know the base they expect and you’ll be able to negotiate smarter for a better price. And when we say negotiate, we mean it! Go in low and be stern about it!  Also, do NOT be afraid to walk away. If there is one thing we’ve learned, walking away usually results in you getting the price you want.

#6 Take the Scenic Route

Okay, so since you have no deadline on when you are returning home, you essentially have “all the time in the world”, so why not take the scenic route when getting to a new destination? Any time you can take a bus, boat, train or hell, even walk… do it. Sure, it will take longer than flying but it’ll be cheaper. Plus, you’ll get to see some scenery you wouldn’t have seen otherwise.

#7 Book Your Accommodation with the Same Booking Site

We used Booking.com for a lot of our accommodations. We not only found it to be the cheapest of several booking sites, but we also were pleasantly surprised to find that if we booked enough through the site, we became a “Booking Geniuses” and got 10% off all bookings through the site. Pretty sweet.

Always shop around but consider booking through the same site if there are incentives to do so.

*Please note, we are not paid or sponsored through Booking.com – we’re just here to give helpful money-saving tips.

#8 Book Direct with Your Accommodation vs. Through a Booking Site

If you are okay with winging it and putting in a little extra work, going to hostels or homestays in person will save you a few extra bucks in accommodation costs. The booking sites take their cut of what you pay for your accommodation. If you book directly with the accommodation, you don’t have to pay those booking site fees.

Also, if you are staying for more than a few nights, ask for a better nightly rate and ALWAYS ask to have breakfast included in what you pay.

#9 Always Ask for a Better Price

If there is one thing to take away from this post it’s never be afraid to ask for a better price …. where applicable. Usually on food and drinks, the price quoted is pretty much the price, but on excursions, taxi/tuk tuk rides or trinkets, haggle away! Fight for that better price. It’ll be worth it in the long run if you save a few bucks everyday through haggling.

#10 Limit Your Alcohol Intake, Drug Use and Partying

If letting loose involves the three listed above, you’ll see your bank account dwindle at a faster rate. One of the most fun but expensive parts of travel is experiencing the nightlife of a place. We’re not saying don’t drink or party but if you can set a budget on how much you want to spend on beers and other fun in a week, it’ll help you stay on track.

Basically, try and budget where you can. Even a dollar or two a day will add up over time. If your main goal is to travel as long and as far as you can on what you saved, you’re going to have to make sacrifices along the way. However, just think, for every sacrifice you make, you allow yourself another day in paradise.

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About The Wandering Stus:

Hi! We’re Lauren & Jesse. A travel couple who quit our corporate jobs in 2016 in order to fulfill a dream of making time for ourselves, living in the now and exploring the beautiful people and places Mother Earth has to offer. You know, all that good stuff. We’re here to give you travel tips, epic itineraries & overall travel inspiration to help you plan your next adventure!

For more travel tips, guides and awesome travel shots, be sure to poke around our website and follow us on Instagram, Pinterest and Facebook.

Photos provided by the Wandering Stus.