Would We Have Enough Money? — October Budget Outlook

Are we on track for saving enough money for the trip?

From our previous research, we’re getting a much better idea how much this trip is going to cost us per month. Let’s do a lazy math here by averaging out the costs of 3 round-the-world trip examples we found on the web:

( $2333 + $2200 + $1260 )/3 =

$1931 pp/pm — (per-person, per-month)

What’s Next?

This is what we do…
We take that amount — multiply it by 2, and then by 12 (months we’re planning to be on the road) — and multiply it by a safety factor (because we’re engineers and having a cushion is nice) and that gives us our savings goal.

The chart below shows how close (or how far, depending whether you’re a half-empty or half-full kinda person) we are to our goals.

October budget outlook

At 80% of our savings goal I think we’re doing pretty good but with the upcoming trips and holidays I’m afraid it’s going to take a hit.

Next month we’re going to re-visit the chart and hopefully that blue square would be THAT much closer to the line…

Are you saving for a trip in the future? If so, how close you are to your saving goal?

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