What to budget for
There are several costs you need to budget for before you travel, they include:
This can vary hugely depending on where you stay and the type of accommodation you choose.
While hostels and boarding houses can be an affordable solution, if you would prefer a little more privacy or creature comforts you will need to budget accordingly.
Food and drink
You will need to feed yourself while you are away so do not forget to budget for at least 3 meals a day and consider if you will cook for yourself or eat out.
Getting around on a day to day basis will eat away at your travel money unless you plan for it in advance.
Check out the public transport facilities at each of your locations as well as taxi and private transport rates to get an idea of how much money you will need to set aside.
Activities and entertainment
Research each of your destinations, list any must do activities at each and set a daily budget for entertainment.
Paying for activities and entertainment while you are travelling can provide you with some fantastic experiences and memories so make sure you budget carefully so not to miss out.
Save an extra 10%
When you work out how much you need, add an extra 10% to your budget because there are always unplanned expenses to contend with.
This will not only give you a little breathing space while you are away but can also be used as an emergency fund.
You could also save a lot of money by reviewing the way you spend overseas, this guide shows you how choosing the right account can help cut your costs abroad.
Work abroad for extra cash
You can get a part time job to help support yourself financially while abroad and still give yourself enough time to explore and enjoy the places you choose to visit.
Although the jobs will in most cases be low-paid and menial they could make a big difference to your spending power during your stay.
The Alliance Abroad Group website can help you look for work and internships overseas and put you in touch with exchange companies.
The BUNAC Working Adventures Worldwide website can give you information on working exchange packages, summer jobs and volunteering schemes around the world.
Are there any extra costs?
Not usually, but some countries charge an entry (or visa) fee before they let you in the country; fees change on a regular basis but can easily be as much as £100 or more.
To qualify for some visa's you will need to prove you have a set amount of money in your bank account - this is usually to try and combat illegal workers.