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1.11. Key advice about money matters

The Practical Nomad: How to Travel Around the World The Practical Nomad Guide to the Online Travel Marketplace

from The Practical Nomad: How to Travel Around the World

and The Practical Nomad Guide to the Online Travel Marketplace

by Edward Hasbrouck

  • Budget conservatively. Most people under-budget. It’s better to have money left over than to run out.
  • Include everything in your budget. Often overlooked or under-budgeted major expense categories include immunizations and health supplies, luggage and gear, land transportation such as Eurail passes, and additional air tickets purchased en route.
  • Don’t try to set a single per-diem break expense figure for every country. Break your trip down by how long you plan to spend in each region or country, and budget separately for each. Don’t rely on one of my sample budgets. Make your own budget.
  • Expect to spend significantly more than the prices in guidebooks. Guidebooks are written by expert travellers. If you need to consult a guidebook to predict your expenses, budget at or above the high end of any range it gives. Inflation and the effect of being listed in a guidebook will have increased prices from those in even current editions of guidebooks.
  • Compare the cost of travel to other things you spend money on. The average (including business travellers) total budget for someone going overseas from the USA for 6 months in 1998 was US$7092 including airfare, all prearrangements, and all expenses en route. Long-term, independent world travel is extraordinarily affordable, and extraordinarily good value.
  • Bring a mix of cash and plastic. Don’t rely exclusively on any one way of getting money.
  • Arrange with a friend or relative to manage your essential financial affairs while you are out of the country. A trusted contact at home is crucial when the unexpected happens.

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