I’m saving money by traveling…Sounds pretty crazy, right? No, I’m not playing around ? and yes, I’m actually saving TONS of money by traveling the world! Especially when compared to what my life would cost at home in LA.
There’s the flight fees, accommodation fees, plus the inevitable added costs of travel (visas, transportation, activities, etc.), but after doing the math, I’m still saving hundreds thousands of dollars! Most people think it’s too good to be true or that I’m some mastermind travel hacker, but really anyone can save money by traveling!!
1. I’m living in foreign places where my form of currency (USD) is super strong
This is definitely the biggest method behind my savings. The locations I’ve spent the majority of my time have an incredibly low cost of living, meaning my meals, transportation, and rental fees are therefore cheap cheap cheap. I go on weekend visits or sometimes splurge on week-long visits to the more expensive destinations, but still budget while doing so, so the costs are never destructive to my bank account.
2. I pay no monthly rent and stay in cheap accommodation
When I graduated from college, my dad made me understand that “renting is basically throwing away money.” It doesn’t lead to any ownership or any profit you’ll make back in the future, so my thoughts are- why not “throw away my money” traveling! Plus, like I said in point #1 about strong conversion rates, my AirBnB rental costs are SO much cheap, yet still super high-quality. I even lived in a 4 -star hotel for a month in Thailand for LESS THAN HALF the price I’d be paying at home in LA ?!
3. I don’t have monthly bills to pay
Because I stay in AirBnBs and budget hotels, I never have to put a cent towards electric and water bills or WiFi/Cable. Simple as that! Those costs always included in the overall price, at no extra charge.
4. No more gas fees, only cheap transportation
I can’t speak for the rest of the US or other countries, but gas in LA is incredibly expensive and completely necessary if you want to carry out a life there. By traveling, I’ve eliminated that biweekly fee of $50 for gas and only spend typically $25 USD/month max (most of the time even less) on transportation fees abroad. I’m usually exploring by foot or taking some form of cheap public transportation, so these added costs are actually a lot lower than one would think.
5. Cheap cost of living = cheap groceries
Because I travel long-term and in places that are affordable, I save TONS of money by buying groceries at local markets. Compared to buying food at home in LA where I’d spend at least $50 for a week of groceries, I’d pay $5 in SE Asia and $10 in Europe (where the USD is strong). I eat out a few times (or maybe more) a week, but the price-per-meal averages are still MUCH lower compared to the States.
So, moral of the story: Everyone can save money by traveling!! It takes no skill and is SO easy! ? If long-term travel is something that interests you, but something you never thought you could afford, I really recommend taking the leap!!