When you quit your job to travel the world, it takes some careful financial planning. This basic budget got us through our first year of travel.
Monthly Living Expenses
Housing: $600 per month
Food: $250 per month, per person
Transportation: $100 per month, per person
Phone: $50 per month
Entertainment: $50 per month, per person
When taking a domestic road trip:
Gasoline: $300 per month
When taking a multi-month trip abroad:
Initial Flights: $300 per person (U.S. to Europe)
Return Flights: $300 per person (Europe to U.S.)
Travel Health Insurance: $60 per month, per person
Want to know how we found affordable flights to Europe? Read How to Fly from the U.S. to Europe for Under $200.
Is that really enough money?
Why yes, yes it is. We stuck to this budget in the most expensive country in the world (Norway) back in March of 2014 during our first month of overseas travel. View our posts on Norway here.