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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: MMMdude on November 09, 2014, 05:57:49 PM

Title: Travel Budgets?
Post by: MMMdude on November 09, 2014, 05:57:49 PM
So I'm sure many of you mustachians are planning to travel a fair amount in retirement.

For us we are planning on doing approx 3 trips per year.  We live up in Northern Canada so we plan to spend one month somewhere down south each year, anticipate a couple weeks in both Europe and then elsewhere in the World.  With a combination of travel hacking and waiting for last minute deals we anticipate that we will be able to do all this travel on $10,000 per year.

How much travel do you anticipate doing and what is your annual budget?
Title: Re: Travel Budgets?
Post by: TheThirstyStag on November 09, 2014, 07:20:01 PM
This is a good question.  Even though I'm far from FI, I have thought about this same question when it comes time.

SO and I just took a 10 day trip to HI and managed that with a budget of low $3000s, so for a mustachian early retiree I think that $10k for 3 trips sounds reasonable. 
Title: Re: Travel Budgets?
Post by: Gimesalot on November 10, 2014, 09:30:03 AM
Right now we budget $6000 a year for travel, while working.  We don't spend that much, but we like to have the money set aside in case we want to do some more expensive trips. 

During ER, we plan on doing slow travel, living 6 months to a year at each destination.  I am estimating about $3000 a year for moving to a new location, each year, and travel back to the US or Argentina (where are families are located), every other year.

$10000 might be enough or not.  It depends on your destinations.  Most of Mexico and Eastern Europe, $10000 will last you a three months to a year.  Galapagos Islands, $10000 will last a week or two at most.  Western Europe will cost you that in two months.
Title: Re: Travel Budgets?
Post by: Zikoris on November 10, 2014, 10:16:02 AM
Right now we spend $7500-8000/year for two trips (two people). Usually one expensive one (like Europe) and one cheaper one (like Guatemala). But in retirement our goal is to merge travel with living, so it shouldn't cost us any more than we would spend anyways to live. We won't be maintaining a residence elsewhere, etc.
Title: Re: Travel Budgets?
Post by: FarmFam on November 10, 2014, 10:20:00 AM
Thanks OP for asking this question.  There is a lot of great feedback that I didn't even think about.
Title: Re: Travel Budgets?
Post by: Left on November 10, 2014, 11:03:30 AM
do you link the trips? ie: down south then to asian/south america to europe might be cheaper airfare since the travel seasons are different in southern hemisphere outside of holidays sometimes.
Title: Re: Travel Budgets?
Post by: Albert on November 10, 2014, 11:21:51 AM
I've spent about 7,000$ this year for myself alone. That was for six separate trips (5 in Europe and 1 in the Middle East) all flying to get there. An average year for me as far as travel costs go.

I have a regular job so camping for couple months straight is not an option.
Title: Re: Travel Budgets?
Post by: Daisy on November 10, 2014, 12:44:58 PM
Posting to keep tabs on this topic. I love travelling and need to find ways to reduce my costs.

I did three weeks of skiing, one week of trail cycling, one week at a major expensive metropolis this year. Also a couple of long weekends away locally.

I haven't calculated it all yet, but I think I spent about $7000, including air fare, food while away, etc. Basically all costs while away. I "hacked" a little in that one week of skiing was practically free because I led a club trip, another week of sking I spent at a friend's condo. I really tried to maximize my time away.

I agree that the transportation costs are what kill you. It's best to combine trips so you can minimize air travel and such. It's harder to minimize costs while working full time and only being able to get way for 1-2 weeks at a time. It's also harder when you are trying to travel with others and they are not as interested in optimizing costs. Sigh... Definitely love the slow travel idea and want to do that more while FIRE'd, and consequently will be solo travelling a bit.

I tend to include food costs while away in my travel budget, as I can't always eat like I do at home. I tend to eat out more when travelling with others, as that is their preference. And when you are somewhere for only a week it may be more convenient as well. For my active trips, I would much rather eat in more. But for trips where I am experiencing a new culture, I love to eat out and try the cuisine.

Do you guys include food costs in your travel budget?

Title: Re: Travel Budgets?
Post by: Zikoris on November 10, 2014, 03:08:38 PM
I include every penny I spend in my travel budget.
Title: Re: Travel Budgets?
Post by: deborah on November 10, 2014, 04:20:23 PM
Before I was FIRE I expected not to travel in retirement. Then I realised that going to my parents' place is travel (and I travel there 15 times a year) as it is a 15 hour round trip. Then I started doing side trips rather than taking the same boring route there and back each time. Then I started going on month + long camping trips. Travel budgets have been pretty small so far - about what I have in my ordinary budget.