Daily costs: How much money do I need?
So how much do travellers need to budget for on a day to day basis on a round the world backpacking trip or gap year?
You may be surprised how little you can spend in some areas but here's a basic guide to what to expect for the basic daily minimum costs, including food, hostels and day trips and tours, but not flights:
| Region | Approx. daily spending amount | ||
|---|---|---|---|
| US Dollars | Euros | UK Pounds | |
| Africa | $40 | €30 | £20 |
| Australia / New Zealand | $30-50 | €20-35 | £15-25 |
| Western Europe | $40-70 | €30-50 | £20-35 |
| Eastern Europe | $20-40 | €15-30 | £10-20 |
| Indian Sub-Continent | $10-30 | €7-20 | £5-15 |
| North America | $50-70 | €35-50 | £25-35 |
| South America | $10-50 | €7-35 | £5-25 |
| South East Asia | $10-30 | €7-20 | £5-15 |
How much money should I save for my trip?
As an approximate guide, I generally allow about $2,000 (£1,000 / €1,500) a month when backpacking around the world. Cities tend to be the most expensive places to stay so allow more if you are spending more than a few days in major cities.
No matter how cheaply you think you are travelling though you will always meet someone who is staying in a cheaper, better hostel, eating in a cheaper, better restaurant and catching the cheapest, quickest transport. Our advice? Follow them!
Tips on how to spend less money each day
Transport
If you are backpacking around Europe, get a EuroRail or InterRail train pass as this is a cheap and efficient way of getting around. You can also book sleeper berths overnight to save money on a night in a hostel. In other places consider a backpacker tour or hop-on/hop-off bus to keep prices down while still seeing amazing places and meeting like-minded people.
Accommodation
Hostels are the cheapest accommodation and some are surprisingly comfortable these days. If you know you are going to spend a few nights in the same place, ask if you can get a cheaper deal and offer to pay in advance for the whole stay if that makes it cheaper still. Check hostel prices.
Food
Most backpacking hostels have a kitchen so you can buy cheap food in the local market or supermarket and cook yourself. You'll probably share the cost between a few other backpackers and make a larger, cheaper meal.
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