Let’s talk about money!
When we are saying that we are leaving abroad at least for a year, everybody asks: “How long have you saved up money for that?”
- A year. We saved up for one year.
Next question is: “ How much savings do you have?”
In one year we saved up 19 000 euros rounded.
One year ago we set a goal to gather about 20 000 euros, but we could manage with 15 000 euros at least. With that amount we should manage at least half a year in Asia, and after that we are going to Australia with working holiday visa to gather some more money for travelling.
If you search information from the internet about how much you should have savings for long-lasting travel, you’re gonna find too many different opinions and valuations about that sum of money. There’s no one right answer for that. It depends on your lifestyle and where and how you spend your money.
Well, we are going to be honest about numbers now:
One year ago, when we decided to make this trip happen, we were wandering how much time we need to gather the savings for this travel. At first we were talking about two years, but quickly we found out that we couldn’t wait that long. So, we made a proper plan for saving money, pulled ourselves together and lived advantageously.
Let’s begin with that fact, that we were a hairdresser and a chef. If you didn’t already know; those aren’t the jobs from where you earn a lot of money. Of course we can easily live a decent life with those jobs, but when you have to save up a big amount of money, that’s not that easy.
We set a target, that each month both of us puts 750 euros for savings. So that would be a 1500 euros in total in a month. In this way we would save up a 18 000 euros in a year.
Well, everything can happen in a year and there will be unexpected expenditures. In some months we put only 500 euros each for savings. In some months even less. So we had also some other ways to gather money than just these monthly salaries of us.
Bonus holiday pays. Well, we didn’t spend any special vacations on our vacations in this year. We put those money for savings.
Gift moneys. For some reason (hah..) our parents gave us some extra money for christmas presents and for birthdays.
Tips. A great thing in our professions; we get tips! Actually in Finland we don’t have tipping culture, but we get some tips anyways.
Selling furniture and other stuffs. We sold everything quite cheaply, but we gained about couple of thousands euros from selling those.
And besides we lived quite sparingly this last year. We lived pretty normal life but we didn’t spend money on nothing extra. We didn’t shop anything, we didn’t go restaurants or coffee shops and we didn’t do anything which would require much money.
At the same time we had to make many purchases for the trip, and we spend a lot of money for those, so we had to tighten up saving money even more. The biggest purchases was laptops, backpacks, hiking boots, flights, vaccines and cameras and the drone.
Cameras and camera gears took about 2000 euros and the drone was about 1000 euros.
Hiking boots costed about 400 euros in total.
Backpacks was about 500 euros in total.
We bought 2 laptops, which was about 1200 euros together.
We have already bought flights from Helsinki to Kathmandu ( about 600 euros in total), and from Kathmandu to Bangkok (about 250 euros in total).
And for the vaccines we spend over a one thousand euros. Phew!
And in addition to these we bought everything else needed. So, yeah, we spend a lot of money for this and that before a trip.
But nevertheless, now we have 19 000 euros in total.
But! We are subtracting from that little under 2000 euros for credit card bills and 1000- 2000 euros to our travel insurance, so we are really going to the trip on about a 15 000- 16 000 euros budget!
This was just honestly open blog post about money. How much we saved up it, how we saved up it, for where we spend it and how much we have it right now for the travel.
Have you more questions about this?