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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 08-06-2003, 02:41 PM   #1
 
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10 Simple Living Tips to Help You Make Travel Dreams a Reality

Below is how I answered a woman who wondered how could we take a year to travel around the world.

My wife and I grew up with very modest financial
backgrounds; guess you'd call it "blue collar" families. So we realized at a young age that not just
making money was necesary to become free of the society tied to their jobs but SAVING money was important to reach financial independence. An old
Chinese equation for financial success is:live on one
third of your income,invest one third conservatively and invest or take a chance with the remaining third with possible higher investment returns. The "GROSS SALARY" is one of American society's "Brainwashes" on the American people and the other are MENTAL IMAGES of what possessions you need to live the "good life".

We didn't really have to save up for a long time but
did plan the trip over a year ago because of our 12 y.o. daughter's school and activity schedules. Tips to be able to make your dreams a reality are as
follows:
1.no impulse buying
2.live modestly
3.pay cash for your car not installments
4.pay all credit card bills monthly with no remaining
balance
5.share rent or live with your parents until you save
alot
6.work more so you are not able to spend
7.know that traveling around the world is cheaper than
living in the States and many other developed economies
8.love yourself so you don't need to buy something to
"improve your self image"
9.be active with hobbies that don't cost much money
like exercise, education and lovemaking.
10. realize that you're only human and all the above
"tips" will be broken but try your best.

FEEL FREE to add your own secrets on how to live a life of full of travel and adventure.
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Old 08-07-2003, 12:19 AM   #2
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hey phillybilly,

awesome suggestions. Money!!! Where do i even begin. It seems to be the root of all my problems. I've never had it(raised in a single family home) and now that i'm all grown up it seems to not want me! I do a lot of what you mentioned above. living at home, working LOTS, pay my credit card off 100% each month, and i do love myself! :P But really I spend so much money on going out. Drinks and food. AIn't that sad. I want free alchohal. I should start dating a guy who works for molson canadian or somethin. Seriously though I really do spend most of my money on "going out". damn thy social life.
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Old 08-07-2003, 05:04 AM   #3
 
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You're not the the only one "Diorama", we've noticed an extreme drop in the numbers of backpackers traveling for 6 month and one year trips in the last 5 years. The cost of GOING OUT has risen all over the world so "party animals" and socially outgoing people in their 20s spend most of their extra consumable income on one or two nights of drinking and dancing. Concert tickets are sky high, also. When an old friend dropped by we went out to the local pub and paid U$4.50 / draft beer; now how is someone suppose to get loaded, friendly and witty on less than U$20?

Even good beer in the supermarket is over a $1 / bottle for 12 packs here on the east coast so I usually drink Canadian beers, Molson or Labatts, both with a healthy alchohol content; in Santa Cruz, CA I use to drink a decent beer from a small brewry in Oregon, "Henry Weinharts" often on sale for only $6 or $7 a 12 pack. But even if one were to invite friends to party at home cheaper so many neighbors are quick to call the police etc whenever somebody is trying to have a good time. I'm glad I lived my 20s during a different time period then now.

So of course when it costs U$50 or more a night to go out and have a good time there's little left over for saving up for a long travel adventure.
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Old 08-07-2003, 06:52 AM   #4
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ah yes the root of all evil, this thing that makes the world go round...




DIo you are so right about the food and drinks!!! I take my wife for dinner 45$, we order pizza and some pop 22$, stop in for a Big Mac 15$.....
That is my worse vise, I eat my lunch out everyday almost, and I have worked it out to about 250$ a week I spend on food outside the home, its nuts, but my wife and I work such long hours we are too tired to cook.

I have done well saving money since May when I started to plan for this trip and I will be covered for cash, it will be a VERY budget trip, and it did not have to be if i would have just stopped having those 20$ Sushi lunchs.
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Old 08-07-2003, 01:05 PM   #5
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Yeah it sucks. Food and drinks. It's not even an item that we get to keep. i mean we shit it out! And then that's it. Gone foreever.

CD- I know what you mean about eating out everyday. i work in downtown van in different hotels. My main hotel is located ACROSS THE STREET from a mall. wtf!? I spend my breaks shopping and eating in the food fair. Theres also a wicked hot dog vendor across the street. I haven't brought my own lunch in like 3 months.
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Where to Next? Iceland!
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Old 08-08-2003, 06:46 PM   #6
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I love those hobbies you listed
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Old 08-10-2003, 10:09 PM   #7
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the money thing does suck! however Im more interested in knowing how you TP vets are doing all that cool stuff in your posts for FREE. :P
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Old 08-13-2003, 12:49 PM   #8
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Hey guys, Iīm definitely VIP member in the "blow all my money eating sushi and going out all the time" club! Thatīs the big thing in Hollywood, baby, and I got suckered into that as soon as I moved into town. Gots to be in the IN crowd
Okay, well that was when I had a job-job. Now, Iīm living a somewhat frugal life as I am not working and spending my time editing and hanging out with my girlfriend(who has 5 weeks of vacation left before heading back to Madrid). Itīs all about quality time
The good news is, we found an all you can eat sushi place about 3 blocks from the house.

as far as saving money is concerned, I try to stick with a very simple phrase from the highly recommend book that has been around for rock of ages called "The Richest Man in Babylon." It is- "Of everything you earn, ten percent is yours to keep." That is to say, that of every paycheck you take home, take ten percent of that and stick it away in an interest bearing account and donīt ever touch it!
I know itīs no quick fix to being able to execute your travel dreams now, but you will be rewarded greatly at a later time, if you stick to that plan.
Albert Einstein once said that one of the greatest inventions of all time is- compounding interest.

Hereīs a quick example. Say you have a set of 22 yr old twins. The first twin, sets aside $2,000 a year (or about $166 a month)in an IRA/Mutual fund/etc...at 12% interest. He does this the next year and so on for a total of six years in a row. After the sixth year, he stops and doesnīt contribute to that account anymore, for the rest of his life. Six years only. Period.

The second twin does not do as his brother did, but instead, blows his hard earned money and pays no attention to his future financial well being. However, on the seventh year, he wises up! On that seventh year, he looks at his brothers actions of the past six years, and decided to do likewise. So, he sets aside his first $2,000 dollars (at 12% interest in the same Mutual fund), and does the same each year- until the age of 65 yrs old.

One invests for 6 years only, the other does it for 37 years.

Fast forward...

Now the twins are 65 yrs old and both look at there accounts. Amazing, but true, they both end up with $1.2 million dollars.

Thatīs the power of compounding interest. Pay yourself first B) .
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