No Wine(ing) - Just Do It
One of the things we don’t want to do is merely repeat a lot of the information that is out there about round the world (RTW) trip planning. For example, you won’t see us posting comparisons of 5 different backpacks…you will see a post about the backpacks we select and why. Likewise, we’re not going to do a lot of posts about saving money for a RTW adventure. Why? Other folks have already done a terrific job of this! With that being said, here are a few great resources and links to get you started:
Saving Money for Your Big Trip
Round the World Couple
8 Tips to Save Money to Travel
22 Ways to Cut Your Expenses, Grow Your Bank Balance, and Have Money for Travel
The Barefoot Nomad
How to Save Money for your Round the World Trip
From a personal standpoint, we had done a “mini life reset” a few years ago. We sold our house and 2/3 of our belongings, and moved to a very small and inexpensive apartment. While we weren’t planning on taking this trip at that time, we now realize that it set us up perfectly. Sure, we have things that we will need to sell, but way less that we would have two year ago.
With that being said, saving is a priority for us and here are a few things we have done:
- Stopped all retirement savings.
- Cut wine (mostly) out of our monthly budget. We are the first to admit that we are foodies and may in fact be wine snobs. We enjoy good wine. However, wine is a luxury and we now enjoy it far less frequently.
- Eliminated frivolous purchases. Ok, we were very frugal before…now we are downright CHEAP. We used to give ourselves each a monthly “allowance” – that has been cut to $0.
- Sell what we don’t need. While we don’t have much in the way of excess belongings, we still had things that we haven’t used or looked at in over a year. The picture associated with this post is Peter selling some of our belongings at a neighbor’s yard sale. Every dollar counts! As we get closer to the RTW departure date, we will start selling bigger ticket items (vehicles, bicycles, paddleboards, furniture, etc.).
- Make things last. Do you REALLY need new shoes? Will your dress shirts make it through the year?
- Stopped eating out. While we didn’t eat out much before, we have pretty much cut this out of the budget. Fortunately, Rachel is an amazing cook!
- Keep the eye on the prize. Think of every expense as decreasing the amount of time you will be able to spend on your RTW life reset!
If you have any questions about budget and saving for a RTW adventure, post below!