Budgeting for a backpacking trip

For most of us, budgeting for a big trip can seem quite daunting at first. But ensuring you have enough funds to last your trip is vital if you want to avoid the embarrassing phone call to parents or friends at home to help you out.

How much will you need?

Start budgeting for the largest expenses first which will usually be your flights and accommodation. Read guide books and ask advice from travellers on internet forums to gain an idea on how much it is likely to cost for food and travel expenses for your chosen destination. This will give you a rough estimate on daily costs for while you are away – remember to add a bit extra to your budget to cover costs for activities, museums, souvenirs and the occasional luxury!

Expenses before you leave

Make a check list of all the items you need to get in place before you travel, including visas, travel insurance and vaccinations. If you have an accident or fall ill abroad, without appropriate backpackers insurance, you could end up paying for expensive medical bills and extra travel expenses out of your own pocket! Remember, a good travel insurance policy can also cover you against trip cancellation, lost/stolen personal possessions and travel delay so a small price to pay for peace of mind.

Travel accessories

The average backpacker will not need specialised travel gear, apart from the correct sized backpack, a comfortable pair of shoes, a torch and a small first aid kit. The trick is to travel light so a couple of tops and a couple pairs of trousers/shorts will do – remember you could buy items along the way for much cheaper than in the UK.

Look after your cash when travelling

Carrying your money in a few different places is always good idea. Keep a little cash on you, along with a credit card and an ATM card. Remember to secure your wallet on you in an inside zipped pocket or in a money belt out of sight from pickpockets.

Backpacking travel insurance is a must!

If you are planning a gap year or going backpacking remember to pack your cheap backpacker insurance. You can purchase great value backpackers insurance direct at 24/7 travel insurance. For a 2-month trip backpacking in Australia, will cost you just £17.37* – a small price to pay to really enjoy your backpacking adventure all the more!

* Premium £17.37 includes Insurance Premium Tax based on an individual aged under 36 taking out a ‘Standard’ Backpacker Australia & New Zealand 24/7 travel insurance policy for 2 months. Cover details and prices are correct at time of going to press (March 2011) and are subject to change.