It’s important to set a realistic monthly budget that reflects the cost of living in your chosen destination. It should include everything you need to live, everything you need for fun, and any costs you’ll continue to incur at home.
Living costs include accommodation, food, transport, travel insurance, immunizations, and phone plan. Fun costs include activities, entertainment, shopping, souvenirs, and travel gear. Recurring costs at home include things like life insurance, gym memberships, and entertainment subscriptions (e.g., Spotify).
Our default assumption is that you’ll continue to pay your current rent or mortgage while you travel. You can change this assumption to explore how subletting your home or dropping your lease impacts affordability.
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