Tips to Plan a Full-Time Travel or Nomad Budget : Can You Afford to Travel Full Time?

Tips to Plan a Full-Time Travel or Nomad Budget : Can You Afford to Travel Full Time?

Hi guys this is Tim and Kathy coming to you from taste life with us and well we really just wanted to go over this whole budget thing yeah we had a big conversation this morning about this and we thought I wish somebody would have filmed this and we could have watched it

Before we became Nomads so we’re doing that for you so the honest truth about budgets are are they really helping you as viewers out there to get an idea of what the Nomad lifestyle is all about yeah Nomad budgets are complicated absolutely we’ve looked at a lot of

Other people’s Nomad budgets because who doesn’t want to know if they can afford this life yeah and then we decided to share our Nomad budget so that you would know when you look at our life which you know we’re a little behind on sharing on YouTube but when you when you hear about

It on Facebook or whatever could you afford to do that because before you start out you want to know if you can afford it so we’ve been out this almost six months and it’s eye opening for one thing it is it is and drink a lot yeah

And the other thing is as we we just put up a video of our month three and four budget right month one and two are already been out for a while we were late with three and four so we’re almost ready to put out five and six like in another mon month or

So and they are complicated and we realized no matter how many people’s budgets you look at including ours but everyone’s it’s complicated because what really is behind the scenes right what are the factors that are involved in how this applies to you and we wanted to

Talk about that in front of you well and one of the things you got to consider or think about is your lifestyle right you know you can set any number to be your budget um we watch Nomads that set their budget at $22,000 and we don’t know how

They do it but they live in great life happy I wish we could figure that out we have met Nomads whose budget is undisclosed but as much higher than ours yeah they live a great life also AB we wish we had that money no no we don’t we don’t but you know it’s

All about the style and how you want to live and when you think about it Nomads go anywhere from Backpackers to extra extravagant right right um you’re never going to see well I’m not going to say never but you probably will never see us on a Viking Cruise Ship no can’t afford

It yeah right also you’re never going to see us staying at a hostel no D snore way too bad for that you do they’re probably pretty desperate but all of that’s got to go into your considerations for your budget and for your living yeah so accommodations are the biggest cost of

Any any Nomad life absolutely and where you are is part of the factor you know where you want to travel if you’re traveling Europe all the time your budget’s going to be a lot higher than someone who’s mostly in southeast Asia or or more Eastern Europe said so

Why does that matter with your accommodations because you’re going to make choices on where you’re staying and you’re going to have this floor level of what you can tolerate right and you’re going to have the ceiling level of what you can afford yes and within that um it there’s other factors like how

Long are you staying there because if you’re only staying a couple nights at a time you’re going to be paying the top rate if you stay a week you might get a little bit of a discount if you’re on Airbnb if you stay a month you’ll get a

Big discount on Airbnb but what is your travel style how long do you want to stay and you know we know people who travel pretty quickly and we’re going to be traveling pretty quickly in a couple months and that it definitely does cost more than when you stay longer periods

Of time but some of these people house sit MH house sitting saves you a lot of money uh we have not dived into that yet because house sitting is also a responsibility and there’s just a lot of things about it that we’re not sure is us and he’s allergic to cats so that

Limits us a lot right um but there’s those factors now for some people they hard spend anything on groceries and eating out and they cook all the time and they don’t drink yeah that’s a huge factor that is why we’ve started a channel called cheers with us

Because that’s a big part of our our enjoyment of retirement we like to go wine tasting we we were talking about we’ve not really successfully changed our taste in wine and the cost associated with it no much since we left home we need to and I’m sure we will

Move into that as we get into areas that are a little thinner in the wine category like southeast Asia yeah but right now we’re in the wine tasted capital of the world so why not anyway welcome to New Zealand and we were’re just in Australia going through wine absolutely you know

That’s part of the most enjoyable part of our retirement that’s our hobby right so that is not really that negotiable for us right now but it is a budgetary consideration yeah and so the other important thing to know about budgets which I’m sure you know is that they

Average out over the year you can’t just go month to month to month but I will say that within that yearly budget you do have to have a budget for your transportation between these areas which a lot of Nomads don’t include right um so that is an important thing to

Realize another thing is Insurance some people include that some people don’t we just charged over $1,000 for travel insurance for the next uh six months which isn’t that bad when you break it down and it’s worth it but you know if you’re trying to do it for $1,500 a

Month and you’re paying 300 of that in travel insurance it gets big chunk yeah um another thing is like your taxes the money you spend on your kids and your grandkids um yeah there’s there’s other things in life that you have to pay for and these don’t make it onto our Nomad

Budget or or anyone else’s but they sure do come out of your bank account so they’re part of your budget right and we paid a fortune in taxes this year trying to catch up from uh working the first six months God bless Uncle Sam yeah so that’s a factor yeah um so there’s

Things that you’ve got to think about right as you do this and again it’s all about your style of travel it’s all about what your expectations are um so that’s why we kind of turn around and we ask is this budget stuff that we’re doing for you helpful um

Because you’re taking a look at what our style of travel is what our Snapchat is um which is different yeah than other people there’s no two people that do it the same it’s not right or wrong it’s just different right so you really have to look at your your expectations because if you’re

Expectations are a vacation you’re not going to be able to afford to maintain that unless you have quite a bit of money absolutely you’re living like on a vacation but if you’re um living so you have downtime and you’re cooking at home and things like that that helps a lot

Yeah so if you’re renting cars that adds a lot it does to your budget but if you’re walking you should be losing weight and being healthy and then you also don’t need a gym membership absolutely anyways we hope that this helps a little bit uh I know in ours

It’s confusing because we prepaid a lot of stuff and we splurged on some things and so our budget’s a little confusing wony um hopefully that’ll clear up soon because we’re almost done with that but nevertheless we’re only going to share our budget for the first year and then

It’s just a hassle to to do um but I think you’ll get a good idea and you’ll see the first year average out so keep looking at people’s budgets but also take them with a grain of salt absolutely yeah well thank you for taking time to watch this we appreciate

It and I hope we’ve helped you in some way and let us know are these budgets really helpful for you give us some comments ours and in general absolutely um and if you’re a nomad who publishes their budget give us your thoughts we want to know what you think about all of

This because we’re definitely not criticizing how other people release their budget we’re super glad they do and um people are very honest and open about it it’s just that there there’s a lot of variation in circumstances again it’s all desires it’s the lifestyle yeah it’s a lifestyle it’s choices so we’re

Tim and Kathy from taste life with us and thank you for tasting a little bit of our budget Concerns

There are many factors to consider when deciding whether you can afford to travel full time. Many nomads, like us, share monthly budgets but are they helpful? What else do you need to know? Do nomad budgets show the full real cost of your travel life? Can YOU travel full-time for what others pay?

Here are links to our nomad budgets:

Month 1 & 2: https://youtu.be/-1ASz3X5Fhw?si=YtctyxMw-492mcOz

Month 3 & 4: https://youtu.be/OCedw3L3RbU?si=YyJj8scd_IhLp15v

Will You Get Bored As a Nomad? Something else to think about! https://youtu.be/A9yarZ5sXfw?si=icZ1ZYIJn8iAs4Xm

You can find answers to a lot of your questions, and tons of resources, at our website: www.TasteLifeWithUs.com
And a list of all our YouTube videos by topic with links to all 3 of our channels at: wew.tastelifewithus.com/videos

Please visit our other channels:
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