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About your finances

Costs before you leave

Running costs back home

Costs during your journey

Savings after your return

Cost before you leave 

You will be astonished how much money you have to spend already before you take your trip.​

You need to equip yourself with the right backpack, clothing etc., book the first flight and accommodation, transportation, need to conclude a new travel health insurance, spend money for documents and vaccination, etc...

I've listed you the most important things here:

Travel documents
  • New passport if needed: standard passport with 32 sites for 37,50€ (under 24 years) / 60€ (over 24 years), the greater version with 48 sites for 59,50€ or 80€

  • Passport photos / job application photos 20-30€

  • Costs for visa! Depends on where you are going to and which visa you will need - from 30-100€

  • International driving license 16€

  • Travel-health-care insurance depends on the travel period as well as your destinations. You have to pay the full insurance coverage before you start your journey! You have to expect at least 40-50€ monthly

  • New ID card 20-30€

  • New bank card (if they expire during your travel period you need to order a new one before your trip for around 12€)

Medical care
  • Vaccinations from 300-800€

  • Malaria prophylaxis 50-60€

  • Travel pharmacy 15-50€

  • Medical check-up and medications 0-500€

Travel equipment 
  • Backpack 150-350€

  • Daily backpack 30-150€

  • Mosquito net 20-30€

  • Microfibre towels 15-20€

  • Sleeping bag 60-100€

  • Functional wear 50-300€, depends on what you are buying 

  • Other 0-300€

  • Notebook / iPad 700-1300€

  • Selfie stick 15-20€

  • Camera / GoPro 150-300€

  • World adapter 20-30€

  • Powerbank 20-30€

  • Hard disk around 50€

Additionally, there will be costs for the first flight, or any other transportation and your first accommodation. If you booked an organization you will have to pay them as well. And don't forget your farewell party! ;-) Although, I hope your family and friends will support you here ;-)

Running costs back home

​Generally you can say keep all insurances / contracts which you will need on your journey or when it is unnecessary to quit them because you loose unique conditions from former times. Additionally, there will be costs depending what happened to your property.

Must have
  • Legal expense insurance (in case you need legal advice)

  • Liability insurance (in case you harm something/somebody)

  • Travel health insurance!

Nice to have
  • Disability insurance (keep it because of the former conditions)

  • Private health insurance 

  • Current contracts on Apple Music/Spotify, Netflix, mobile phone 

Not necessary
  • Gym contract 

  • Any abos on magazines or online shopping

  • Pension insurance (because you don't work for the German market anyways) If you have a private insurance it's also recommended to shut it down for your travel time

  • Insurance for your vehicle (depends on if you sell it or just deregister it)

Besides that you also have to consider if you have additional costs like rental costs for your vehicle parking space or a self-storage where your stuff will be stored etc. 

Costs during your journey

Depending on which countries you're visiting, how long you will travel and which lifestyle you choose you need more or less money. Generally, your costs will be divided into 4 blocks. The costs you see below can vary starting from the cheap lifestyle up to the ones where money doesn't matter. They contain all 4 cost aspects. Of course, they are just a guideline, in the end it's up to you how much money you will spend.

Low-budget travel countries (15-45€ per day) 
  • South East Asia - India - Kambodscha - Vietnam

  • Central and South America

  • Africa

Middle price class travel countries (50-75€ per day)
  • China 

  • Europe

  • Russia 

  • North America

High-budget travel countries (65-100€ per day)
  • Canada

  • Australia - New Zealand

  • Hong Kong

  • Japan

  • Scandinavia 

  • Switzerland

If you want to travel with low budget you should take more public transport on the ground, use free options like couch serving, staying at hostels with multi-bedrooms, cooking for yourself or don't visit the most expensive restaurants, as well as having no expectations and are open for a crazy, unforgettable time with locals!

If you travel with common sense and find a good balance for yourself, you will come pretty far! Just be open-minded and try to adapt to your new environment. 

25% transportation

25% hostels






Savings after your return

As soon as you come back you won't have a job right away, maybe also no apartment anymore. Therefore it is important that you also put money for later aside!

If you were employed and quit your job you have entitlement to unemployment benefit. For that it is crucial that you visit the employment agency right after you quit in order to get your benefit. You won't get paid for the period of your journey, but as soon as you come back. Just go there the first day you arrive back home and tell them what's your future plan.

If you are a student, it is even more important to put a part of your savings aside in order not to burden your parent's pocket. 

How to save money

The secret is to start saving money early enough!

As soon as you have made the decision you need to prioritize. Ask yourself whether you really need to buy this or that, if it is useful for your journey, etc...That doesn't mean you should not having fun anymore - No, you can still go out, treat yourself and enjoy the time at home! Just overthink your future purchases, etc. in order to live your dream!

Before your journey

  • Make yourself a money box, which reminds you to save money for your dream! 

  • Try start limiting yourself and don't buy unnecessary stuff anymore!

  • Increase your travel fund with selling things you don't need anymore like clothing, decoration etc.

  • Increase your travel fund with selling your vehicle/electronics

  • Terminate Abos, unnecessary insurances/contracts already months before!

During your journey
  • Rather take the bus or train instead of taxi or plane 

  • Rather stay in multi-bedroom hostels or try Couchsurfing instead of treating yourself with the most beautiful hotel resorts 

  • Don't spend too much money on souvenirs or shopping tours

  • Prefer the free of charge sightseeing options 

  • Eat locally and get together with locals! (I'm sure you will be invited several times)

  • Increase your travel fund with "work & travel"

  • Increase your travel fund with a functional blog/website/social media

  • Increase your travel fund with additional rental income from your subtenant

All about your credit cards and bank accounts

Nobody wants to think about the case that you get robbed or hacked and you loose your money. That's why it is important to use different bank accounts and bank cards!

For an overview (in German) about the 3 best credit cards and different accounts just message me and I'll hand it over to you. 

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