How much money do I need to quit my job and travel the world?

The truth is you can travel abroad with as little as $7000 in the bank. If there's a will, we travelers will find a way. But $40-$50 per day will let you travel comfortably all over the world. So, just book the plane ticket already, keep saving, start planning your dream trip, and get ready to spend 2021 abroad!



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In general, you should expect it to cost between $25,000 to $35,000 per person to travel around the world for a year. This rough estimate comes from reading travel budgets of other bloggers, various travel planning resources, and our own experience.

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Generally, $20,000 is the baseline cost for a trip around the world for one person for one year. This estimation falls in line with popular recommendations that budget travelers can spend an average of $50 a day on the road, and allows additional budget for flights and vaccines.

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You can fly with any amount of cash. No law prohibits you from bringing any amount of money on a flight. Likewise, TSA has no rules that limit how much money you can bring through security. In other words, TSA has no cash limit per person.

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All it takes is a just little more effort and planning for any 30+ year old to fit traveling in their lives. And when they do, they'll find that it's a way better experience than traveling in their 20s. Because traveling in your 30s is amazing. It's also much more meaningful, at least for me.

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If managed carefully, a $5,000 budget is more than enough to eat and drink your way across the continent on a 10-day or two-week trip –or perhaps even longer.

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If you're carrying currency equivalent to $10,000 or more, you have to report the money to customs. That limit isn't per person if you're with your family or another organized group, either. If you're traveling together with two other people and you're all carrying $5,000, that means your total is $15,000.

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For example, if your goal is to backpack around Europe and stay in hostels or other budget-friendly lodging options then this amount could easily get you 3-4 months of travel.

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