My friend Karen holding the cash! (Photo by Warren Talbot)
We’ve talked a lot about our lifestyle changes over the past year as we get ready for the Big Trip.
Now that we’ve hit our financial goal, however, it makes sense to tell you exactly what we did to save almost half of our income in a year (and the things we did leading up to this year) so you can do it, too.
Whether you are planning for a trip like ours or a completely different goal, having the financial freedom to pursue it leaves no more excuses. Are you ready for that?
We’ll start the posts on Monday, and I’d like to hear your specific questions now so I can be sure to include them.
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Here is the proposed list of topics:
- Credit card debt (you knew that would be first, right?)
- Evaluating the cost of your lifestyle (including your job)
- Protecting your assets (as much as you can)
- Setting up your savings goal and the plan to get there (how much money do you actually need?)
- Necessary expenses and unnecessary expenses
- Bonuses/raises/unexpected money
- Making money from your junk
- How to have a social life while you’re saving money
Have something to add? Let me know in the comments or email me at btalbot (at) marriedwithluggage (d0t) com.
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About Betsy
I would be curious about your plan for the end of the year of travel- do each of you have a job to return to and a certain salary you can count on? And if so, is that job tied to Seattle geographically?
Will you be bringing small “gifts” in your bags to give locals?
How often will you be in touch with a “point person” – I assume there is one – someone you’ll touch base with back in Seattle. Or do you plan on being “connected” and online during your travels?
Well, I could ask all night so that’s good for now.
Plan, what plan?
Thanks for your questions, Angela.
Having some money to come home to is a really good idea and should be part of your plan.
When we traveled RTW in 1998-99 I set aside $5000 to come home to. This got us first and last month’s rent on a house, and enough $$ until we started working again. Still, it was tight. If I were to do it today, I’d probably double that. Also, we had our cars in storage, so we didn’t need to buy new ones when we got home.
I look forward to reading how you saved your money and the rest of your plans.