A travel expert has broken down exactly how much you'll really need to give it all up to go travelling - and revealed that he thinks it's possible to do it from £533 a month.
As tempting as it may be to hastily bash out a resignation email, rashly fire it over to your boss and then spend your notice period watching Youtube videos before trotting around the globe, there are drawbacks to this plan.
Travelling the world is expensive and, unless you're an influencer, does not make you any money.
HyperJar founder Mat Megens has provided a break down of the likely costs of setting out on a big journey, which is wise to heed if you're considering an adventure.
The budgeting app expert has also explained how exactly you can make the most out of your money when going abroad – whether it’s a small, mid-size or large budget.
Mat claims that if you're trying to stick to a strict budget, you must be mindful about how and where you spend, and what your definition of small is. A 'lower end' budget would be anything up to £5,000 for six months.
For example, he claims you should be able to make £3,200 stretch over six months per person, working out at approximately £533 a month.
South America and Asia are your best bets for getting to explore. Aside from the flight to get you to your first destination, you might opt to stick to buses and walking to get around. Meanwhile, food tends to be delicious and cheap in countries across these two continents, not to mention the plethora of cheap hostels and free activities on offer.
For those on a 'medium budget', so around £6,000 to £10,000 for six months, you’re not just asking how much money you need to travel the world – you’re asking how much you need to travel comfortably and do everything you want to do.
He says: "You might be planning to travel across multiple continents and experience as much as possible. and nowhere is off limits, though it’s not like having a slightly bigger budget means you can do what you want. It’s still important to note that planning your budget is crucial.
"You could potentially opt for budget accommodation and aim to take buses and trains to get around where possible, and even flights when it’s convenient. Saving on accommodation and travel means you can also use this money on other activities that you wouldn’t normally do, in order to make the most out of your holiday."
For those lucky enough to be able to splurge on a big trip - so anything over £10,000 - Mat says it's easier as "you don’t have any restrictions on the places you can go or the experiences you can have".
He said: "With a big budget, you may decide to choose a hotel over a hostel – however, living in hostels can be a great way to meet new people.
"A bigger budget means your transport options are unlimited – whether that’s flights, trains, or taxis. You can pack your months with activities without worrying about the cost, including taking tours of all the sights and doing a once-in-a-lifetime activity once or twice a week.
"You can also make the most out of eating at upmarket restaurants, though it’s always worth checking out the local fare for a well-rounded cultural experience."
You can find out more on hyperjar.com.
