The travel the world on $10 a day are long gone. The following is a guide for how much you may need for different environments if you are on a tight budget:
If you are prepared to stay in hostels and self-cater for meals it is possible to get by on approximately $100. The cost of internal transport and accomodation is high in Europe, so it is best to pre-book internal flights and hostels / guesthouses.
Asia is one the most affordable of continents to travel around, particularly South-East Asia and it is possible to get by on around $40 per day as food is very cheap and local transport is very affordable
India is even cheaper than Asia for travel, and it is possible to travel on $15 per day which will cover food, accomodation and local transport
Dubai is expensive, bit outside of Dubai it is possible to get find accomodation and meals for approximately $100 per day
North America can be expensive in the larger cities like New York, but if you choose hostels or cheap motels and self cater it is possible to travel around the states on around $100 per day particularly if you use the Amtrak train network.
Some countries in South America are really cheap (Bolivia) whilst others are comparable to Australian city living. For around $50 per day you can find a reasonable hostel / motel, good cheap food and good value public transport. Internal flights can be quire expensive.
Due to its sheer size, Africa is a difficult place to travel on the cheap. South Africa offers travel options that are often cheaper than Australia, but in other parts of Africa it is difficult to find accomodation for under $100 per night. Internal transport is also expensive and safe eating options can push your daily budget to around $300 per day.
Access to Funds
As its never a good idea to have all of your funds in cash at hand, you will more than likely wish to access it on a semi regular basis from an ATM or bank, or to conduct currency exchange.
If you intend to utilise card access to funds, ensure you have cards that are widely acceptable at your desitination.
It is important to research the proximity of banks and ATMs at your destination as well as access to foreign exchange facilities.
Mastercard and Visa, for example, have an internet based ATM location search facility.
Your emergency fund needs to be secure and preferably separate to your main access account to ensure you don't spend it!
There are a number of options for emergency funds, including:
- Maintain a separate credit / debit card facility.
- Your credit facility will probably have a daily withdrawal limit of between $2,000 and $5,000.
- Keep the emergency fund at home and if required have a trusted friend or relative deposit it directly into your account or conduct an international money transfer
Budget Travel Checklist
- Use public transport
- Self cater when possible
- Big cities are expensive - limit your time in them
- Use plenty of free entertainment options - museums, galleries etc
- Organised tours are expensive - do your own research and plan your own tours