How to budget for your gap year
Asia is not just appealing because of it’s cultural significance. It really is a backpackers dream. Getting around is inexpensive, accommodation is widely available and your money can stretch almost as far as possible.
That being said it’s a wonder why most backpackers still end up underestimating just how much they will spend on a gap year. As it so happens, once a lot of backpackers realize how much their money can buy them they can lose track of their spending and end up in a bit of a pickle.
Because we all have a budget in mind it is worth being mindful and working out how much you’re willing to spend in the scheme of things. How much do you need to budget to have the ultimate gap year.
Well, this depends on a few things…
- How long will you be away?
- What level of comfort are you happy with?
- Do you want to stay in a private room in a hotel or are you happy with hostels?
- Will you eat out every night?
- What countries will you be visiting?
The great thing about Asia most of these things are still relatively inexpensive. For example in most countries eating out is the cheapest part of the entire trip, so much so that it is possible to eat out almost every night and still stay comfortably within budget.
This doesn’t always mean you’ll be able to eat at a fancy 5 star restaurant however. Instead you need to be satisfied with street food which is usually the most tasty anyway. If you expect restaurant quality every night, although you will still pay less than you would do back home, this can quickly add up and force you to go over budget.
Where you choose to visit will also play a huge role in how much you need to visit. Countries like Singapore and Japan can be incredibly expensive to stay in due to the cost of the accommodation. Compare this to how much you’ll spend in a country like Cambodia and Laos and you are looking at different budgets altogether.
If you want to stretch your money as far as it can possibly go, we recommend restricting your travel to cheaper countries like Thailand, Laos, Cambodia, Vietnam, Indonesia, India, Nepal etc. If you start traveling to more expensive countries like Japan, Singapore, parts of China etc. then you will be looking at spending a lot more.
$30 a day is what most people could consider to scrape by with the bear minimum. If you’re more of a posh traveler and expecting a little bit more, you could up this budget to around $70 – $100 per day. This includes accommodation, transport, sight seeing and eating.
Remember a gap year is a once in a life time experience so don’t delay this experience. You can contact us here for some assistance to get started.