How To Plan A Trip Around The WorldBudget

How much does an Around the World trip cost?

This is a very difficult question to answer, and will depend on many factors. There is no final answer. However, many people have affirmatively declared that $15,000 (US) is the amount you'll need. Others have said much less, while some say it's much more.

Ultimately, you'll need to estimate your approximate daily spending, and then do some math (more on that later, though).

Factors that affect a travel budget:

• Where you choose to visit will have the biggest impact on your budget. Europe and the U.S. are expensive, while India and Cambodia are dirt cheap. Naturally, spending a longer period of time in cheaper locations will allow you to stretch your budget and travel longer.
• How you travel will also affect your spending habits, but sometimes you'll have to sacrifice comfort. Using public transportation is cheaper than hiring taxis or renting cars, but often not as efficient or relaxing. Staying in hostels or budget hotels is probably the most effective way to save money. You'll need to figure out your priorities, though. Are you willing to share a bathroom, or even sleep in a shared room in order to travel for a longer time period? (Don't worry, it's fun!)
• The time of year you travel to some places can also make a difference in cost. Traveling in the low season or shoulder season can often land you significant discounts. These discounts are not nearly as large as the savings you will get from staying in hostels or budget hotels, however.
• How quickly you travel from place to place will significantly affect your budget as well. Transportation is expensive, especially if you fly often. Taking local overland transportation tends to be the cheapest way to go, but it's not as cheap as just staying put for awhile. Besides, taking a longer time to get to know a place is when you open yourself up to the most interesting experiences.
• Tours and guides are another expensive part of traveling. Often you can see the same places on your own and learn from a guide book instead of a person. While the quality of the information you might learn from a book versus a person is debatable, there's no arguing that some tours can be extremely expensive. Many tours also include transportation and meals, so it may be worthwhile to consider this before making a final decision.
• Children will add considerable expenses to your budget. Don't let that stop you though!

Many travelers often get caught up in the "game" of saving money while traveling. Don't fall into this trap. Just focus on enjoying yourself.