Is It Cheaper to Travel Than to Stay Home?
Daily I add every single expenditure to the iPhone Trail Wallet app designed by Simon Fairbairn, a young digital nomad. (www.NeverEndingVoyage.com)
Here is our Cost of Travel: Ecuador Expense Report for February and March 2015.
February was our first 26 days on the road (2/2 – 2/28/15).
We spent $1712.02 – an average of $65.85 per day.
We spent less in March mainly because we rented one place for 31 days, and prepared our own breakfasts, but we still ate out at least once a day. We also splurged and each had a massage plus our fabulous spa day. We spent $1555.69 or an average of $50.18 per day.
Here is a breakdown of total expenditures by category as of March 31, 2015 – of 57 days of travel.
Total: $3267.71 or $57.33 a day
Our air travel expense is not included in these figures because we used American miles for our air travel.
Accommodation is our greatest expense. The following list is what we have spent for nightly accommodations and the number of nights.
#5 $38/night included breakfast – Hotel Andino, Quito
#10 $39.70/night AirBnB apartment – Quito
#1 $25 for 3 hours! CocoBongo Hostel, Bahia de Caraquez
#2 $40/night at Hotel Herradura, Bahia de Caraquez
#3 $42/night at Donkey Den Guesthouse, Sta Marianita
#1 $18 for a budget Hostel Machillalla, Puerto Lopez
#2 $45/night at oceanfront Chesco’s AirBnB, Salinas
#1 $20 – Blue Sky Hostel, Cuenca
#7 $35/night for an AirBnB studio suite
#31 $25.40/night for AirBnB 2 bedroom apartment
There are a few other expenses I haven’t included in my travel budget. One is our Netflix subscription of $8.99 a month and the $45+/- for our T-Mobile mobile number. (We are looking into the pros and cons of keeping our T-Mobile service versus buying local SIM cards.) Finally, in March we both had dental cleanings and one filling which was an additional $95. This $241.04 in additional expenses come out to about $4 a day.
We opened a Charles Schwab bank account for the sole purpose of being able to make no-fee ATM withdrawals. There are no monthly fees or monthly minimum requirements with Charles Schwab and any ATM fees are reimbursed.
To answer the question everyone is thinking but doesn’t know how to politely ask: How does a couple in their 50s quit their jobs and travel?
To travel and live abroad has been a goal of mine, therefore several years ago we put a plan into motion. Our Milwaukie, Oregon home has been rented out, but we refinanced that loan and used the equity to purchase two additional condos in Sacramento, California. These investments are funding our travel. Steve also collects a small pension from his employment with State Farm Insurance.