The Backpacker Budget
Summer is just around the corner and many college students are planning a much needed break from the relentless monotony of term papers, finals, and keg parties. Some will return to their home towns, some will stick around and compete in beer pong championships, and some will pack their bags and look for adventure on foreign shores.
Every year, Europe is overrun with backpackers from all over the world, many of them American college students and recent grads. They spend months at a time riding the rails from smoky cafes in Holland to Mediterranean beaches with golden sand and tanned beachgoers. Hopefully they hit a couple museums along the way too.
So how can these seasonal nomads afford to spend the whole summer gallivanting around Europe? No, they aren't all trust fund kids, they just know how to save, budget, and live on the cheap.
The first step to taking any vacation is to plan ahead. Take a look at your budget and see how much you can afford to set aside for a travel fund. If you're struggling to pay the bills, you might want to pick up an extra shift at the video store and curb your spending. Once you know you can afford to travel, pick your destination and look into the cost of living, hotel prices, and travel costs. You'll want an estimate of how much you'll be spending each day so you'll know how much to save. If you're planning an extended Euro-trip, guidebooks such as Let's Go and Lonely Planet will have a section to help you plan your expenses.
You should always plan to spend more than you want to and plan to spend some money before you even hit the road. You might need a new backpack or a digital camera. Remember, you're going to be bumming it around Europe, you don't need to buy a bunch of fancy new things. Travelers (especially backpackers) are allowed to be a little bit dirty.
Life on the road can actually be cheaper than you'd think. You can get free accommodation using websites like CouchSurfing.com or GlobalFreeloaders.com and you can save money by making your own meals and taking public transportation. Just be smart about your spending.
You should always set aside an emergency fund. I recommend bringing a credit card for emergencies (yes, a killer pair of shoes in Paris can count as an emergency), that way you can worry about paying it off after you get home. Credit cards can be a dangerous beast on the road - be sure not to overspend or you'll be paying for your trip long after the memories have faded.
From saving before your trip to careful spending on the road, there are loads of ways to make that dream trip a reality. So start planning!
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