Doing the Maths

Today marks exactly 5 months since we arrived in Europe, so I figured it was as good a time as any to look at our budget. Spurred on by a less-than-anticipated tax return (thank you Australian Taxation Office!) I meticulously logged all cash withdrawals, electronic payments and transfers into a calendar so I could see how much we've already spent and where we've saved money. 

Travel days can be costly

Whilst we always pay attention to what we're spending, dutifully logging every single expense is simply too tedious and time-consuming. Not to mention misleading - as many days our expenses are high (e.g. on travel days, or when checking into accommodation) but that is often because we're paying in advance for goods or services.

On other days our spending may be low, but that doesn't mean we go on a spending spree either as we'll need those funds at a later date.

Instead, I prefer to keep a running total that I update every few days and at the end of the month I simply divide the total by the number of days covered. 

Also, by entering this information into a calendar I am looking at where and when we spend our money, rather than trying to make sense of abstract numbers and dates on a bank statement. I can clearly see which countries and cities cost us a little more and which activities caused a spike in our spending. Conversely, I can also see which countries are cheaper and what cost-saving measures have paid off in the long term. 

So - how much have we spent after 5 months in Europe? 

The High Tatras, Slovakia

We're currently sitting at exactly AUD$10,669.87 for both of us for the entire period (4th June until 4th November). So that's approximately AUD$5,334.93 each for 5 months of summertime fun in Germany, Czech Republic, Slovakia, Hungary, Romania, Bulgaria and Turkey.

Or more precisely - a little over AUD$2000 per month (AUD$1066 each), or AUD$69.28 per day (AUD$34.64 each). 

That is for absolutely EVERYTHING - accommodation, food, drinks, sightseeing, tours, activities, shopping, flights, trains, buses, vehicle hire, petrol… every single transaction and cash withdrawal and purchase has been accounted for. 

That includes wandering around numerous castles and historic old towns in the Czech Republic; hiking in the High Tatras in Slovakia and Piatra Craiului mountains in Romania... 

Black Sea coast, Bulgaria

Soaking up the sun along the Black Sea coast in Bulgaria; cruising the Bosphorus and dancing until dawn on rooftop bars in Istanbul... 

Exploring the ruins of Ephesus near Selçuk and taking a day trip to the Gallipoli battlefields in Turkey... 

Gallipoli

Hiring a jeep and discovering secluded beaches around Marmaris; walking part of the Lycian Way and staying atop the gorgeous Butterfly Valley near Fethiye... 

Taking a 3 night/4 day 'blue cruise' aboard a Gullet along on Aegean Coast; canyoning in Olympos… As well as eating my body weight in all kinds of local delicacies! 

Ephesus

In a previous post I discussed how I came to the $30,000 figure by doing some extensive online research including the European Backpacker Index for 2013. I had estimated that a budget of between AUD$30 and AUD$40 per day was both realistic and achievable - which appears to be the case.

Aegean coastline, Turkey

Some of the countries we have visited have been dirt cheap (e.g. Romania, Bulgaria) and our daily spending fell well below AUD$30/day each. However others have been a little more expensive (e.g. Turkey) and we've spent in excess of AUD$40/day each. 

But by being frugal and budget conscious in ALL countries - regardless of differences in costs of living - we've managed to stick to our overall budget, which means we can continue our journey safe in the knowledge that we (should) have enough money saved. 

And now that the summer months are over, we've settled into a cosy flat in east Berlin which will reduce our daily costs considerably. Whilst Berlin is no longer the ludicrously cheap 'Promised Land' for globetrotting bohemians (supposedly - read the backlash here), it is still far cheaper than other European cities. We've managed to score a great deal on accommodation which is far cheaper than a hostel (more on that later!) and by staying put for 2-3 months we will save even further by not paying additional plane/train/bus fares to move around… 

So bring on the Bratwurst and beer!

Prost!

Cheers!