Backpacking is a great way to explore the world and can be done on an incredibly tight budget. However, it’s important to make sure you have enough money saved up for your trip, especially if you’re planning a longer journey. Depending on where you’re travelling and how long for, you might need anywhere from a few hundred dollars to several thousand.
The amount of money you should save for backpacking will depend on the type of trip you’re taking and the destination. If your plan is to stay in hostels or campgrounds, then your main costs will likely be food, transportation, and activities. Depending on where you’re going, prices can vary greatly; in Europe they tend to be higher while Southeast Asia offers exceptional value for money.
For shorter trips of a week or two, budgeting around $50 – $100 per day should give you enough wiggle room to enjoy different activities and eat out at nice places.
This amount can easily be cut down by cooking meals yourself or opting for cheaper accommodation options such as Couchsurfing.
For longer trips of several months or more, it’s best to plan ahead and save up as much as possible before setting off. If your backpacking destination is more expensive than usual (like Europe or Japan), then expect to spend around $100 – $150 per day depending on the type of activities and meals you plan on doing.
You should also factor in any unexpected costs such as visa fees, medical expenses and emergency funds. It’s always better to overestimate than underestimate when budgeting for backpacking trips.
Conclusion:
How much money one should save for backpacking depends largely on the length of their trip and the destination they are travelling to. Generally speaking, those planning a short term trip should aim to save around $50 – $100 per day while those planning a longer journey should aim higher — typically between $100 – $150 per day — in order to cover all their expenses including unexpected costs.