How much money should I take to travel the world?
You’ll find a different answer from blog to blog. I’ve known travelers who barely had any money. Many will range from $5,000 to $13,000 for Americans seeking travel. In Mexico I met a couch surfer from Guatemala who spent 14 months in Europe being homeless. This was some rough living particularly in Eastern Europe during the winter. If you can do it $10,000 is a good safety start.
If you are open to any adventures adjust your plans to your budget. During your time at home you are only able to save$5,000 consider traveling to Southeast Asia or South American were your dollar will go farther. When you land in a new place shop around for hostels. Once you start getting into the travel groove ask other hostel patrons were they have come from and recommends for staying. Most travelers will be happy to share their experience and you will learn good places to check out next.
For my trip I’m aiming for $10,000 over 5 months for a total saving for $20,000. By normal nomad terms this is a big excessive. I currently own a house that I do not intend on selling. I hope to rent it out next year when I start my travels but to be safe I need a buffer for that $800 a month mortgage. Doing some budgeting I believe my monthly expenses are about $1300 a month. With an income of ~ $3200 a month there should be a flexible difference of $2,000.
Saving all that a month will probably be tough. So the goal is $1500 in saving each month. That will put me a little short of my $10,000 goal but selling the rest of my junk on craiglist will make the different I hope. ^_^ Wish me luck!