Is full-time travel your dream? Learning How To Travel Full Time doesn’t have to be an impossible feat. At TRAVELS.EDU.VN, we’ll guide you through actionable strategies to turn your wanderlust into a lifestyle, offering insights into budgeting, remote work, and travel hacks, transforming your dream into reality. Explore financial freedom, cultural immersion, and unforgettable adventures as you embark on a journey of lifetime exploration.
1. Assessing Your Financial Landscape for Full-Time Travel
Before embarking on full-time travel, determine the financial resources necessary. This involves evaluating your income, expenses, and potential savings to establish a sustainable budget that supports your lifestyle on the road. Assess your existing assets and debts to gain a clear picture of your financial health.
How much does it cost to travel full-time?
Start by creating a detailed inventory of your current financial situation, encompassing income streams, fixed expenses (such as rent, utilities, and insurance), and variable expenses (including groceries, entertainment, and transportation). Then, consider the costs associated with your envisioned travel style, including accommodation, transportation, meals, activities, and unforeseen expenses. Research average costs for your desired destinations, considering factors like currency exchange rates and seasonal price fluctuations. This step is crucial for creating a realistic budget and determining the financial feasibility of full-time travel.
Everyone travels differently, so no two budgets will be alike. Determine how cheaply or luxuriously you’ll want to travel in order to figure out your monthly budget number.
After you figure this number out, you’ll want to determine the amount you need in your travel fund. To calculate this, think about things such as:
- How many months you’ll be gone.
- Where you’ll be traveling to.
- If you plan on going home while on your trip to visit friends and family.
- Whether you’ll be keeping your home and/or car.
- How quickly you’ll travel.
- What you’ll do while you travel.
Knowing your financial limitations with travel is a must. If you are traveling with someone else, it’s important to find out what their expectations are with full-time travel so you can come to an agreement on how you will plan and afford to do so.
Brooke and Buddy shared how easy it is to overspend on full-time travel. They share their budget, how and why they went over it, and if they would do it again.
2. Prioritizing Savings for Your Travel Dreams
Cultivate a habit of saving money before allocating funds to discretionary spending. By prioritizing savings and setting aside a portion of your income for your travel fund, you can accelerate your progress towards achieving your full-time travel goals.
Related article: Pay Yourself First – How This Simple Trick Can Help You Save More
To save more money for travel, take money away from the extras (like going out to eat, buying new clothes, etc.) you may actually get better with that unneeded spending. Learning to cut your budget and spend less can really help you in the long run, and it will cause you to think more carefully about each dollar you spend.
Personal Capital is a great way to help you stay on track for your travel goals. Personal Capital allows you to combine all of your accounts in one place so that you can see whether or not you are on track for your financial goals, whether that is traveling full-time, retirement, and more.
3. Mastering Budgeting for Sustainable Travel
Embrace budgeting to gain control over your finances and allocate resources effectively. A well-structured budget enables you to track income, monitor expenses, and identify areas for optimization, paving the way for long-term financial stability during your travels.
Budgets are great because they keep you mindful of your income and expenses. With a budget, you will know exactly how much you can spend in a category each month, how much you have to work with, what spending areas need to be evaluated, among other things.
This can help you save as much money as you can for your travel fund before you leave. If you aren’t already using a household budget, starting one to prepare for travel will actually help you in the long run by showing you how important they are and getting you used to using one.
You may also find that you need to cut your budget to make full-time travel a reality. Fortunately, there are lots of ways to cut your budget.
Related: The Complete Budgeting Guide: How To Create A Budget That Works
3.1. Implementing Effective Budgeting Techniques
Explore various budgeting methods, such as the 50/30/20 rule, zero-based budgeting, or envelope budgeting, to find an approach that aligns with your financial preferences and goals. Regularly review and adjust your budget to accommodate changing circumstances and ensure its continued effectiveness.
3.2. Utilizing Budgeting Tools and Resources
Take advantage of budgeting apps, spreadsheets, and online resources to streamline the budgeting process and track your spending habits. These tools provide valuable insights into your financial behavior, enabling you to make informed decisions and stay on track towards your savings goals.
4. Eliminating Debt for Financial Freedom
Prioritize debt repayment to alleviate financial burdens and free up resources for travel expenses. Develop a debt reduction strategy, such as the debt snowball or debt avalanche method, and diligently work towards eliminating high-interest debts to maximize your savings potential.
While traveling, you will not want to have to worry about your monthly debt payments. And, I definitely recommend getting rid of your debt before you leave – you’ll be able to travel with less stress. Also, if you are able to get rid of your debt before you start traveling, you will actually lower your travel budget all together, and it can offer you more options for working and traveling. Now, not everyone works while they travel, but some choose the digital nomad lifestyle as a way to balance it all out – that’s what I do!
Paying off your debt and lowering your monthly budget also means you won’t be as stressed out about finances while you’re traveling. You can hike, camp, explore islands, small towns, etc. while you travel, and it’s so much more enjoyable if you don’t have that debt hanging over your head.
4.1. Consolidating and Refinancing Debt
Consider consolidating or refinancing your debts to secure lower interest rates and more favorable repayment terms. This can significantly reduce your monthly payments and accelerate your debt repayment progress, freeing up cash flow for travel expenses.
4.2. Negotiating with Creditors
Explore the possibility of negotiating with creditors to lower interest rates, waive fees, or establish more manageable payment plans. Many creditors are willing to work with borrowers who demonstrate a commitment to debt repayment, offering opportunities for relief and financial flexibility.
5. Visualizing Your Travel Goals with a Vision Board
Create a vision board to visualize your full-time travel aspirations and maintain motivation throughout the savings process. A vision board serves as a tangible reminder of your travel goals, inspiring you to stay focused, disciplined, and committed to achieving your dreams.
Making your full-time travel goal visual is a great way to find motivation and can make saving money fun.
Having your financial goal displayed in front of you makes it that much more real, plus it’s nice to have a constant reminder of what you’re working towards.
Various ways to make your financial goal visual include:
- Create a graphic that demonstrates your goal.
- Keep a picture of your goal on hand. Having a picture of your full-time travel goal will keep it on your mind. This could be a picture of the RV or boat you want to buy, a picture of one of your destinations, and more. You can even go all out and create a vision board on Pinterest or on a poster board that shows all of the places you want to visit, motivational sayings, etc.
- Start a blog. Blogging really helped me with my financial goals. It made it easy to look back and see how I was doing, and the blogging community was very supportive. Plus, because everything was public, I felt like I had to keep myself accountable. If interested, you can start a blog for cheap with my easy tutorial. Another positive would be that you could start a travel blog and maybe even make money along the way
6. Embracing Location Independence Through Remote Work
Explore opportunities for remote work to generate income while traveling the world. With the rise of the digital economy, many industries offer remote positions that allow you to work from anywhere with an internet connection, providing a flexible and sustainable source of income for full-time travelers.
There are plenty of ways for anyone to make money while traveling. While some of you may think this is just a thing of dreams, I am here to tell you that it is real! I am location independent, and I know many others who are as well.
You can:
- Run a website. This is what I do to make money while traveling, so of course, I had to include this one first. Like I always say, I never realized I would be earning as much income online as I do now. Everyone has to start somewhere, so know that it’s a possibility for even you. With blogging, you can make money through advertising, affiliate marketing, sponsorships, reviews, partnerships, ecourses, ebooks, and more. You can read all about how I earn a living online in my monthly online business income reports. There are other ways to make money similar to this, such as by becoming a Youtuber, starting an Instagram, and more.
- Freelance write or become a virtual assistant. Working for other online business owners and bloggers can be a very rewarding thing, and it can help make your travel dreams possible.
- Sell products or services. I’ve heard of some who sell items they collect while traveling, those who create crafts to sell at local craft fairs, and so on. If you decide to sell items online, you can sell your products on sites such as eBay, Etsy, Craigslist, and countless others. If you are selling products while you travel, you may need to consider how inventory will work, like where you will get it from, where you will store it, and more.
- Housesit. Housesitting usually means you’re working for free, but sometimes you do get paid. If you aren’t getting paid, it’s a free place to stay, and you may even stay in some very nice homes.
- Work remotely. Some employers allow their workers to work from anywhere. If you are interested in seeing if your company allows this, make a plan and meet with your boss to talk about the possibility.
- Photography. There are many ways to sell photography while traveling, such as taking stock photos, becoming a content creator, and more.
6.1. Exploring Remote Work Opportunities
Research remote job boards, freelance platforms, and online marketplaces to identify remote work opportunities that match your skills, experience, and interests. Consider roles in fields such as writing, editing, graphic design, web development, customer service, and virtual assistance.
6.2. Building a Remote Work Portfolio
Showcase your skills and expertise by building a professional portfolio that highlights your previous work experience, accomplishments, and client testimonials. A compelling portfolio can significantly increase your chances of landing remote work opportunities and securing lucrative contracts.
7. Finding Local Employment Opportunities While Traveling
Supplement your income by seeking temporary or seasonal employment opportunities in the destinations you visit. Many industries, such as hospitality, tourism, and agriculture, offer short-term jobs that can provide a steady stream of income while immersing you in local culture and experiences.
There are many instances when you may decide that you want to stay put for a while. Maybe you just really like a certain spot, maybe you are trying to lower the cost of your travel, or maybe you are having work done to your vehicle. Whatever your reason may be, there are many things you can do in order to earn a living.
You can try one of the options below:
- Bartend or work at a restaurant.
- Work at a hotel, motel, campground, or hostel.
- Help out on a farm.
- Work on a cruise ship or yacht.
- Tutor.
- Au Pair – Read How To Become An Au Pair And Travel The World.
- Teach English.
7.1. Networking with Locals
Connect with locals through social events, language exchanges, and community gatherings to learn about local job opportunities and gain insider knowledge of the job market. Networking can open doors to hidden job opportunities that are not widely advertised.
7.2. Utilizing Online Job Boards and Resources
Explore online job boards, classified ads, and local job websites to discover temporary or seasonal job openings in the destinations you visit. Tailor your resume and cover letter to highlight relevant skills and experience that align with the requirements of the job.
8. Maximizing Income Through Intensive Work Periods
Accelerate your savings efforts by working diligently and intensely during focused periods, allowing you to accumulate a substantial travel fund in a shorter amount of time. By dedicating yourself to maximizing your income, you can expedite your journey towards full-time travel and financial independence.
Whether you want to beef up your travel fund or if you don’t want to have to worry about working while you are traveling, you may decide to work like crazy before you leave.
Wes and I are cruising on our sailboat, so I am working like crazy to get as far ahead as possible on my blog posts and plan as much business stuff as I can. There have been a lot of crazy work weeks, but I know it will be worth it to relax a little once we get to our next destination.
If you are motivated to reach your savings goal even more quickly, you may want to find side jobs or start a side business.
Doing so can allow you to save as much money as possible before you leave.
There are also full-time traveler jobs as well. You can learn how to travel full-time and make money at 9 Work From Home and Travel Careers.
8.1. Taking on Additional Part-Time Jobs
Supplement your income by taking on additional part-time jobs or freelance projects during evenings and weekends. Explore opportunities in fields such as retail, hospitality, delivery services, or online freelancing to maximize your earning potential.
8.2. Monetizing Hobbies and Skills
Turn your hobbies and skills into income-generating opportunities by offering services such as photography, crafting, tutoring, or consulting. Monetizing your passions can provide a fulfilling and sustainable source of income that aligns with your interests and values.
9. Downsizing Assets by Selling Your Car
Consider selling your car to eliminate associated expenses and free up capital for travel expenses. If you plan to travel extensively without relying on a personal vehicle, selling your car can provide a significant boost to your travel fund.
If you’re going to be gone for a long time and won’t be traveling via your car, you might as well sell it. You won’t be needing it.
We know some people who travel full-time and kept both of their cars. They just drive separately everywhere they need to go, even though they really don’t need both cars. I’m assuming many people do this because they are attached to their cars.
We sold one of our cars before we started RVing and just kept our Jeep. When it came time to move onto the sailboat, we did decide to keep the Jeep, but Wes’ parents are storing it and taking care of it for us. While there are still some expenses related to keeping the Jeep, we really love it and did a lot of work to it to make it an awesome overland vehicle.
For many though, keeping your car can just create extra hassle, extra expenses, and extra stress. Save your money instead!
Plus, car sharing has made it really easy to ditch your car. I use Uber and Lyft whenever we need to get somewhere farther than our fold-up bikes can take us.
9.1. Evaluating Transportation Alternatives
Explore alternative transportation options, such as public transportation, ride-sharing services, or bicycle rentals, to reduce your reliance on a personal vehicle and minimize transportation expenses. Embrace sustainable and cost-effective modes of transportation that align with your travel style and budget.
9.2. Assessing the Financial Implications of Car Ownership
Calculate the total cost of owning a car, including expenses such as insurance, maintenance, fuel, and parking fees, to determine the financial impact of car ownership on your travel budget. Consider the long-term savings potential of selling your car and investing the proceeds in your travel fund.
10. Releasing Equity by Selling Your Home
If you plan to travel extensively without returning to your current residence, consider selling your home to unlock equity and generate capital for travel expenses. Releasing equity from your home can provide a substantial financial foundation for your full-time travel adventures.
All of the same advice about your car also applies to your home. If you’re not going to be home for a long time, then you might as well sell it. You can move everything you have into a storage unit or even get rid of it all.
We sold our house in 2015, and it was the best decision ever. We can now travel freely without the worry of tending to a home.
On the other hand, if you think you’ll be back soon or just aren’t ready to let go of it, you can always rent it out on AirBnb. We love using AirBnb, and we’ve stayed in several places that were owned by people who were full-time travelers.
If you decide to use AirBnb or rent your house out another way while you travel full-time, you will want to factor the costs you may incur because of that into your travel budget. These would be things like a cleaning service, a property manager, and so on.
10.1. Exploring Alternative Housing Options
Consider alternative housing options, such as renting, house-sitting, or living in a recreational vehicle (RV), to reduce your housing expenses and embrace a more flexible lifestyle. Explore unconventional housing arrangements that align with your travel style and budget.
10.2. Assessing the Financial Implications of Home Ownership
Calculate the total cost of owning a home, including expenses such as mortgage payments, property taxes, insurance, and maintenance fees, to determine the financial impact of home ownership on your travel budget. Consider the long-term savings potential of selling your home and investing the proceeds in your travel fund.
11. Embracing Frugality to Extend Your Travel Budget
Cultivate a frugal mindset to make your travel budget stretch further and extend the duration of your travels. Frugality involves mindful spending, resourcefulness, and a commitment to minimizing unnecessary expenses.
Full-time travel can be as expensive or as inexpensive as you want it to be. Making your dollar stretch for travel is something you may do to prepare for traveling and/or something you do along the way.
While you are saving up to travel, being as frugal as possible will help you save more money and start traveling sooner. It means you are cutting extra spending, wasting less, and being in control of your wants and needs. Being frugal really means that you are adjusting your expectations and living with less, and you can read more at Change Your Life By Becoming A Frugal Freak.
Being frugal can also help you as you travel. You will likely have to downsize and live with less while you are a full-time traveler, but being frugal can also help you stretch your dollars as you go.
Some of the frugal things you can do while traveling include:
- Make friends and couch surf.
- Stay in hostels.
- Watch your food spending.
- Cut back on memberships.
- Sell your car.
By saving money, you may be able to travel a little bit longer, and it can even get you in the mindset of making this a long-term thing.
Related articles:
11.1. Adopting Frugal Travel Practices
Embrace frugal travel practices such as cooking your meals, utilizing public transportation, staying in budget-friendly accommodations, and seeking free or low-cost activities. By prioritizing experiences over material possessions, you can significantly reduce your travel expenses.
11.2. Leveraging Discounts and Deals
Take advantage of discounts, deals, and promotions to save money on travel-related expenses such as flights, accommodations, and activities. Explore loyalty programs, travel reward cards, and discount websites to maximize your savings potential.
12. Travel Hacking for Affordable Travel Experiences
Explore the world of travel hacking to unlock affordable or even free travel experiences. Travel hacking involves strategically leveraging credit card rewards, loyalty programs, and travel deals to minimize your travel expenses and maximize your travel opportunities.
Since you’ll be traveling long-term, you may want to find a way to save money on your trips. Travel hacking may allow you to travel for cheap or even free in some cases, but it’s not something you will want to do if you are unable to manage your credit cards responsibly.
Lots of people are talking about travel hacking these days, and it isn’t just people who are wanting to make full-time travel a reality. There are also a lot of concerns about whether or not travel hacking is a scam. Personally, I love it, and we use our rewards for everything. But, you have to be responsible and not get in over your head!
I know someone who churned several credit cards for their bonuses and saved up a ton of points before they left for a full year of travel, and they were able to get all of their flights for nearly free by doing this.
This can be a great way to spend like you normally would while earning points for free travel.
Learn more at How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included.
12.1. Earning and Redeeming Travel Rewards
Accumulate travel rewards by using credit cards that offer points, miles, or cashback on travel-related expenses. Redeem your rewards for free flights, hotel stays, rental cars, and other travel perks to significantly reduce your travel costs.
12.2. Maximizing Credit Card Benefits
Utilize credit card benefits such as travel insurance, airport lounge access, and priority boarding to enhance your travel experience and save money on travel-related services. Maximize the value of your credit card benefits to make your travels more comfortable and affordable.
13. Embracing Slow Travel for Deeper Cultural Immersion
Adopt a slow travel approach to immerse yourself more deeply in local cultures, connect with communities, and reduce your overall travel expenses. Slow travel involves spending more time in each destination, fostering meaningful connections, and minimizing transportation costs.
One thing people always ask us about is where we’re headed to next and when we’ll do so. It’s like everyone assumes we’re waking up, traveling to the next place, and repeating that everyday. That would be exhausting!
Traveling slowly is what I prefer, as this way usually allows you to travel more affordably and is less tiring. It’s more affordable because transportation costs are typically what eats up a travel budget. This can be true even if you aren’t a full-time traveler! If you are traveling for extended periods of time, you probably won’t be in a rush to move to the next city, you will have more time to enjoy the places you are visiting, etc.
However, traveling quickly means that you may be able to visit more places. If you are in a time crunch, then this may be a better option for you. Or, if you are able to work remotely or are location independent, then you may be able to afford to travel quickly.
Another benefit of traveling slowly for long-term travel is because it may be easier for you to find a temporary job if you are going to stay in one place for a few months, and that can help you with your overall travel budget.
You can learn more about the pros and cons of full-time travel here – Is Full-Time Traveling As Good As It Sounds?
13.1. Prioritizing Local Experiences
Focus on engaging with local communities, participating in cultural activities, and supporting local businesses to enrich your travel experiences and foster meaningful connections. Prioritizing local experiences allows you to gain a deeper understanding of the destinations you visit.
13.2. Utilizing Local Transportation
Embrace local transportation options such as buses, trains, and bicycles to reduce your carbon footprint, save money on transportation costs, and immerse yourself in the local culture. Utilizing local transportation allows you to experience the destinations you visit from a unique perspective.
How do I become a full time traveler?
As you can see, there are many different ways to learn how to fund full-time travel. You just have to find a few, or try them all, to see what works best for you.
If you want to travel more in Europe, Southeast Asia, India, South America, the U.S.A, or wherever else, there are many options to live the full-time travel lifestyle.
Are you interested in full-time travel? Why or why not?
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Frequently Asked Questions (FAQs) About Full-Time Travel
Here are some of the most common questions about how to travel full-time:
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What are the biggest challenges of full-time travel?
- Challenges include managing finances, maintaining relationships, dealing with unexpected issues, and finding reliable internet.
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How much money do I need to save before starting full-time travel?
- The amount depends on your travel style and destinations. A comfortable starting point could be $20,000 – $30,000, but careful budgeting is essential.
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Is it possible to travel full-time with a family?
- Yes, it’s possible but requires careful planning, budgeting, and a flexible mindset.
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What are the best ways to find affordable accommodations while traveling?
- Consider hostels, Airbnb, house-sitting, couch surfing, and budget-friendly hotels.
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How can I stay connected while traveling full-time?
- Use local SIM cards, Wi-Fi hotspots, and portable Wi-Fi devices.
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What type of insurance do I need for full-time travel?
- Comprehensive travel insurance that covers medical emergencies, trip cancellations, and lost belongings is crucial.
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How do I handle healthcare needs while traveling?
- Research healthcare facilities in your destinations, carry necessary medications, and consider medical tourism for affordable treatments.
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What are the best ways to budget for full-time travel?
- Create a detailed budget, track your spending, cut unnecessary expenses, and utilize travel hacking strategies.
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Can I maintain a full-time career while traveling?
- Yes, remote work opportunities are increasingly available in various fields.
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How do I deal with loneliness and homesickness while traveling?
- Stay connected with loved ones, join travel communities, engage in local activities, and prioritize self-care.
