It’s not often we have a young guy willing to share his backpacking secrets, specially a broke one. Will is remarkable. He travelled India for a year on $3000 and lived like a king in Venezuela on less. Will, please, show me the money!
How much money was in your pocket/wallet/bank account when you started on your travel adventure? And how did you decide that was enough to get started?
When I first hit the road, over seven years ago, I literally had just a couple of hundred dollars in cash. I wanted to travel and had no problem with hitching, sleeping rough and dumpster diving in order to see the world. Since then, I’ve had the odd job, scraped together a few thousand dollars here and there and, more recently, started making a living off my blog.
What methods do you currently use to make money while you travel (in order of most value)?
In the past, I used to buy stuff on my travels to sell back home at festivals; leather satchels, silver jewellery, silk scarves - you can sell all of these for a massive profit. I also had a go at bringing back clothing to sell from India but found that harder to break into. When in doubt, I turn to ebay and sell whatever I can find in local charity shops which I feel has a decent resale value. Right now, my freelance writing for Yahoo Travel, News.com.au, The BBC and others brings in anything between $1000 - $2000 a month. My blog brings in an additional $500 - $1000 a month through various advertising partnerships. This is officially the most money I have ever had!
As you've travelled the world and met other travellers, what is the most unusual way you've heard of other people creating an income on the road?
I met a couple of ‘antique hunters’ in Nicaragua who were picking up all kinds of old lamps, door handles, cast-iron trinkets etc - they told me they could sell them for hundreds of dollars of profit back home. I’ve always wanted to find out more about buying high value items to sell back home… If you know what your looking at then there is some real cash to be made. I would love to learn about Rubies so I could bring some back from Burma.
How much do you spend (on average) each month?
Flights/Transport:$100
Accommodation/Utilities:$150 (I couchsurf a lot)
Food:$300
Tours & Entertainment:$100
Miscellaneous:$300 (mostly blog related)
Mobile/Communication:$50
Total Outgoing Expenses:$1,000
What have been the ways that you've saved the most amount of money?
I hitch, I couchsurf, I cook my own food - transport, accomodation and meals are the three main costs for any backpacker. I prefer to save my money for mountain permits, gear I may need or flights to exciting and far-flung lands! I often pick up bar-work or sign up for a workaway project in order to save more money.
What things have been the biggest waste of money for you?
I once missed a flight… I had hitched from the UK all the way to Romania and needed to get back home fast so I booked a flight, which I then missed. It was a truly horrible moment… I had to buy another flight, at a greatly increased price!
What is the best money generation/management tip that you read/heard that impacted your life?
A friend of mine once said to me that if I wanted to travel but couldn't afford to do so then all I had to do was specifically look for cheap countries… I have followed this advice like some kind of mantra! I spent over a year in India, surviving on just $3000 I had scraped together after six weeks unloading lorries. I journeyed to Venezuela, the cheapest country in the world, and lived like a king. I spent months exploring South East Asia, living off cheap noodles and even cheaper beer. For me, the greatest thrill is finding a new, often obscure, place I have never heard of and exploring it - if it’s cheap, even better! Realistically, couchsurfing has probably saved me tens of thousands of dollars - I swear by it but not for money-saving reasons; it's an exchange of ideas and a great way to make friends.
You can find Will Hatton here -
Will is an avid hitch-hiker, couch-surfer and bargain-seeker. He is a devout follower of the High Temple of Backpackistan and the proud inventor of the man-hug.
FAQs
Living on $1,000 per month is a challenge. From the high costs of housing, transportation and food, plus trying to keep your bills to a minimum, it would be difficult for anyone living alone to make this work. But with some creativity, roommates and strategy, you might be able to pull it off.
Where can I live on $1000 per month? ›
Here are the 16 places to retire for $1,000 a month:
- Central Valley, Costa Rica. Cost of Living: $1,000. ...
- Las Terrenas, Dominican Republic. Cost of Living: $1,000. ...
- Tanjung Bungah, Malaysia. Cost of Living: $1,000. ...
- Cuenca, Ecuador. Cost of Living: $990. ...
- Antofa*gasta, Chile. ...
- Toruń, Poland. ...
- Amed, Indonesia. ...
- Da Nang, Vietnam.
Surviving on $1,000 a month requires careful budgeting, prioritizing essential expenses, and finding ways to save money. Cutting down on housing costs by sharing living spaces or finding affordable options is crucial. Utilizing public transportation or opting for a bike can help save on transportation expenses.
Is 1000 dollars a lot of money in the US? ›
Money is all relative. $1000 would be a significant amount for those living in poverty and even those who live from paycheck to paycheck. Someone who earns a decent living or has a decent pension, maybe not so much.
What is a good amount of money to live comfortably? ›
An individual needs $96,500, on average, to live comfortably in a major U.S. city. That figure is even higher for families, who need to earn an average combined income of about $235,000 to support two adults and two children.
How much money do you need to survive per month? ›
The average monthly expenses for a family of four range from $7,875 to $9,168 (depending on the ages of your kids). For single folks, the average monthly expenses are $4,337. For married couples with no kids, monthly expenses are $7,111.
What is the lowest income to live on? ›
The Joseph Rowntree Foundation has a good calculator for this, which suggests a minimum of around £37,100 before tax as an income to support a family of four in a way that reasonably supports engagement in society. Of course rent varies significantly across the country, so you need to take that into account.
What is the cheapest and safest country to retire in? ›
7 of the most-affordable places to retire abroad
- Malaysia.
- Mexico.
- Panama.
- Philippines.
- Portugal.
- Thailand.
- Vietnam.
“Retiring on $2,000 per month is very possible,” said Gary Knode, president at Safe Harbor Financial. “In my practice, I've seen it work. The key is reducing expenses and eliminating any market risk that could impact your savings if there were a major market downturn.
How much money do I need to make to save $1000 a month? ›
You can use our budgeting calculator to figure out how much to save each month based on this rule. According to this calculator, saving around $1,000 per month is a good goal to have if you bring in around $5,000 in take-home pay—assuming you aren't paying down high-interest debt.
If you start by contributing $1,000 a month to a retirement account at age 30 or younger, your savings could be worth more than $1 million by the time you retire. Here's how much you should expect to have in your account by the time you retire at 67: If you start at 20 years old you should have $2,024,222 saved.
How to make $10,000 in one month? ›
In this guide, we'll share the 10 best ways to make $10,000 per month, including:
- Sell Private Label Rights (PLR) products 📝
- Start a dropshipping online business 📦
- Start a blog and leverage ad income 💻
- Freelance your skills 🎨
- Fulfillment By Amazon (FBA) 📚
- Flip vintage apparel, furniture, and decor 🛋
As of May 2023, more than 1 in 5 Americans have no emergency savings. Nearly one in three (30 percent) people in 2023 had some emergency savings, but not enough to cover three months of expenses. This is up from 27 percent of people in 2022. Note: Not all percentages total 100 due to rounding.
How many Americans have $1000 in their bank account? ›
A stunning new Bankrate survey of 1,030 individuals finds that more than half of American adults (56%) lack sufficient savings to shoulder an unexpected $1,000 expense.
How many people have $1000 in the bank? ›
The numbers are consistently around 60%, meaning only 40% of Americans have enough savings to cover an unexpected expense without going into debt. As of January 2023, the report shows that 57% of Americans have less than $1,000 in savings.
How much money does the average person live on per month? ›
The average monthly expenses for one person can vary, but the average single person spends about $3,405 per month. Housing tends to consume the highest portion of monthly income, with the average annual spending on housing at $1,885 per month per person.
How much is $1000 a month hourly? ›
Annual / Monthly / Weekly / Hourly Converter
If you make $1,000 per month, your hourly salary would be $5.77. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.
Is $2000 a month livable? ›
“Retiring on $2,000 per month is very possible,” said Gary Knode, president at Safe Harbor Financial. “In my practice, I've seen it work. The key is reducing expenses and eliminating any market risk that could impact your savings if there were a major market downturn.
How much money on average do you need to live? ›
To live "comfortably" as a single person in 99 of the largest U.S. metro areas, you'll need a median income of $93,933, according to a recent SmartAsset analysis.
