Stephanie Barry-Woods from StephMyLife on How to Travel the World on a Small Budget
When it comes to the ideal lifestyle, Stephanie Barry Woods ticks all the boxes. Even though it may seem as easy to get as replacing all your teeth with diamonds, a chat with Stephanie reveals that it’s actually quite the opposite.
Cork-born Stephanie and her husband were saddled with £40,000 worth of debt (mostly from Tim’s UK student loans) when they decided to start saving to travel. They set themselves a goal: to pay off their debts and save €100,000, which is no mean feat for someone who lives in London and earns around £40,000-£50,000 each.
“A lot of people don’t eat or drink, but they don’t even know how many subscriptions they have. We save a lot of money switching utility providers. We start to budget for groceries and entertainment.”
Stephanie and Tim don’t want to skimp on their social life because they’ll leave friends and family behind.
“Saving money by avoiding birthdays and nights out doesn’t make sense to us because we can’t get that time back. In London, there are plenty of apps that give you a free drink and sites that give you 50% off your food order Discount.”
While Stephanie and Tim saved £100,000 in less than four years, she says long-term travel can cost less.
“It’s more of a safety net for us because we don’t know how long we’re going to be away.”
The intrepid couple, who started their travels with a jaunt to Thailand, developed a love of experiencing different cultures and started traveling to neighboring places.
“We were out of work for about 10 or 11 months as we traveled across Southeast Asia. It was cheap to travel around.”
Know your comfort level
Before you leave, decide how you want to live and budget based on your needs, says Stephanie.
“I’ve seen people spend €12,000 traveling for months. It really depends on your level of comfort and whether you like hotels and street food or if you want air conditioning and a private room.”
Set yourself a daily allowance
Once you’ve decided where to travel, do some research on accommodation, food and living costs and plan your day-to-day spending, says Stephanie.
“If you backpacked along the banana pancake trail to Thailand, Cambodia, Laos and Vietnam, you might spend 30 euros a day including accommodation.”
Guesthouses usually cost the same as hotels
Stephanie and Tim have stayed in many types of accommodation and she says it pays to do your homework.
“We found that in some places a guest house cost the same as two hotel beds, but it was super basic. We stayed in hotels when we wanted a more social life and meeting new people. “
Have a financial safety net
Stephanie and her husband were traveling long before remote work was the norm, and her blog, which now has over 89,000 followers, has truly gone viral.
“I think that’s why we save too much. We do worry about how long our money will last. It’s 2016 and the whole digital nomad working lifestyle is definitely more of a pipe dream.”
use travel card
Stephanie said having a travel card was a great way to avoid getting scammed abroad.
“You can turn off transfers or withdrawals over a certain amount. You’ll be notified every time you spend money, so if your card is being scammed, you’ll know immediately.”
While most people in Stephanie’s age group would be thinking about climbing the property ladder, it was the last thing on her mind.
“Some people think we’re crazy because instead of buying a house we’re traveling on rent.”
Open a high-interest savings account
While in Australia, Stephanie compared and compared the interest rates on different accounts at local banks and found the account with the highest interest rate.
“We found this savings account, and if you don’t put anything out, they give you double the interest every month. We’re living off Tim’s salary, and since I’m signing, we’re saving mine.”
Travel blogging can be a lucrative career
Like most travel influencers, this started out as a hobby for Stephanie, but quickly became a way of life and her main source of income. “It may seem risky and temporary, but it can be a lucrative and stable career choice, and it’s actually a lot of work.”
What’s her piece of advice for anyone hoping to work in this line of work? “Figure out what your strengths and skills are. Find people who value those skills and pay for them.”
Invest in basic technical equipment
While that’s the myth of working on the beach, Stephanie says you don’t really need a lot of equipment other than a laptop and phone to create high-quality content.
“The only thing you really need is a SIM card and a range booster. You can get them on Amazon because the WiFi can be poor in some places, but you can get them pretty cheap. You also have a portable battery for your phone— — so you can work from your phone when you need to.”
respect local culture
Before taking a taxi driver or similar casual job, Stephanie says, know the written and unwritten guidelines about employment. “Temp jobs have rules because you’re taking jobs from local people in Thailand, Cambodia or Indonesia, and that’s not good.”
carry a small amount of cash
Stephanie said that while many establishments accept the card, there are still some that do not. “You have to use cash a lot. You always have to carry around 40 or 50 euros in cash to buy food – something like that. City, you need cash.”
So where is the cheapest place she’s ever lived?
“It blew my mind how cheap it is in Vietnam. It is definitely becoming an up-and-coming place for digital nomads. You can buy a nice bed in a private room in a hotel for 7 euros. ”
By comparison, the most expensive place is Singapore, which is “outrageous” – a hotel room costs upwards of €400 for two adults sharing a night.
Swap your car for public transport and taxis
Investing in a car can be an unnecessary expense, and Stephanie recommends using one of the many transportation apps available. Base fares in Bali start at 44c, with most trips costing less than €3.
“They have a lot of ride-hailing apps, the main one is Grab, which I think is the safest ride-hailing app in Southeast Asia. Besides that, we ride scooters (which can be rented for as little as 1.23 euros a day) or rent a car, which is a great way to get a ride.” Both ways are very cheap.”
If you spend money on anything, make it insurance
Invest in a reputable travel insurance company and make sure you’ve read their claims policy, says Stephanie.
“If you’re going to spend money, spend it on good insurance. We use World Nomads – they pay and are easy to deal with. You need to seek good reviews from people who claim.”
avoid being scammed
It’s easy to be fooled when you’re abroad, and Stephanie has learned her lesson.
“You have to be street smart. In Thailand, there’s a scam where people come to you and say, ‘oh, we’re from the government, we’ll buy you a holiday.’ A lot of people have lost money from that.”
Stephanie builds on her travel insights and provides clients with one-on-one travel planning.
“I discussed all the options with them, and then after the phone call, I wrote a guidebook or itinerary for their trip — how to get there, where to stay, food, safety, insurance — all that stuff. “
plan your trip
It helps pinpoint exactly what you want to see on the go.
“You might want to try a certain dish or see a certain animal, and travel planning can help you decide which place is right for you.” Stephanie urges anyone with wanderlust to bite the bullet and go, even with your kids, acquaintances or You go with yourself.
“If it means you get to do something you really want to do, then travel. Rather than waiting for the perfect person to travel with, go for it – as a solo traveler, you’ll never be alone.”
