Money makes the world go around – or at least you need some to go around the world.

How much you need depends on where you go, how you travel and the standard of living you can accept.
The biggest posts on our budget are without comparison food and lodging. On average they amount to around ⅔ of our expenses. The last ⅓ is divided between everything else.

Luckily we have some level of control over most of the expenses. Others we just have to accept.

We have 5 posts on our budget. Let me break it down.

  • Food: The easiest way to save money on food is to stay somewhere with a fridge and cooking facilities, and the longer we stay, the cheaper it gets as it allows us to buy in bulk (relatively). Another thing that has a big impact is how much we indulge in alcohol, candy and similar luxuries. We try to keep it to a minimum – also because of the health aspect.
  • Lodging: We have been camping, invited in by people and stayed in about any kind of accommodation imaginable. We always look for the cheapest option that fulfills our needs, which basically are that we need our bikes and gear to be secure while we get a good night’s sleep. Location and weather often play a part in defining how to accommodate those needs. Other things we appreciate and look for is internet access and to be within walking distance of grocery stores and places we want to explore. A launderette nearby also comes in handy on a regular basis.
  • Fuel: Our small Hondas are only sipping fuel but we are riding 2 bikes so it still adds up – especially the first 6 months when we traveled in The US and Canada. Since then our monthly mileage, and subsequently the fuel costs, has dropped significantly. This is another example of how slowing down makes your money last longer.
  • Motorcycles: I usually service the bikes myself. That way I know the work is done right and it saves us money – in some countries more than others. With long service intervals and relatively cheap parts the Hondas have been a frugal acquaintance – even with 2 top end rebuilds due to piston ring failure they haven’t broken the bank. The biggest variabel when it comes to maintenance costs is tires. Price and longevity of tires varies a lot! On top of the service costs there is insurance. In the US, Canada and Mexico we had full coverage as it was almost the same price as just liability. Since then we have just bought liability insurance as required in the countries we pass through. It’s usually rather cheap.
  • Miscellaneous: Health insurance is the big one here, but this post covers everything that doesn’t fit anywhere else, like SIM cards, fees, tolls, tips, laundry, language school, gym memberships etc.

Talking specific numbers is not that relevant as there are so many variables. But to give you an idea: Katrine and I have averaged about US$ 120 per day all included since we set out in June 2023.

We mainly use Revolut and Wise when we travel. Both are international fintech companies that offer financial services aimed at travelers, expats and others that need to work with multiple currencies. Both have been working like a charm and their services compliment each other well. It has saved us a lot of money in fees/bad exchange rates compared to the conventional banks we usually use.
We have a selection of bank cards. Credit, debit, Visa and Mastercard – It’s good to have alternatives and backups.

Cash is still king in many places. We always try to have enough in local currency to get by for at least a couple of days in case we can’t use our bank cards. Besides that we carry some US$ in cash. They often come in handy – especially when traveling in The Americas.