Financial Update – 9 Months of Travel
by Jason -- July 15, 2010
With just about 2 months left until we head back home, I thought this would be a good time to do a financial update and let you know where we stand.
For those who don’t know, we saved $50,000 for our planned year-long trip. We initially thought we would need around $125 per day. However, it only took us a few weeks to realize that this was far beyond what we actually needed. We quickly recalculated and then automated our financial setup so as to alleviate any concerns about overspending our budget.
Here’s a quick update of where we currently stand.
The key line is the blue one. How much money do we have left? We’ve spent just about 50% of our planned $50,000. Overall, this is great, as we’re now about 75% through the trip. The $25,000 also already includes our plane tickets home, as well as quite a few non-travel related items.
Next, let’s look at the budget by country:
We’re currently in our second stint in South Korea, and the cost is averaging just about the same as our first stint here.
The most amazing country on that list is Japan. In only 7 days we managed to spend over $1,800. My favorite stat of the trip is the fact that we spent nearly 40 days in Vietnam and spent $1,800 and in only 7 days, spent the same amount in Japan.
Regardless of Japan, we’re still averaging less than $75 per day. On an annual basis, that’s about $27,000 for 2 people and only $13,700 per person. That amount continues to amaze me. Who would’ve thought one could travel for an entire year for about $13,700?
Overall, the good news is that we’re doing better than our initial plan. The bad news is we’ve already planned on traveling more when we arrive back to the states. So the money will continue to dwindle. It will be interesting to compare our costs once we’re back.
On the first sheet, you may have noticed the “Revenue” line item. Unfortunately, nearly all of this money is from this year’s tax returns. However, there is $100 in the revenue bucket that is attributed to our first advertisement sold on this blog. It was an exciting time to see our first money earned since leaving cube-land roll into our Paypal account.
As always, if you’re really interested, you’re more than welcome to download my entire trip finances spreadsheet. It contains all of this information in far more detail. It can be downloaded here.
Image credit: dolphinsdock
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