After I published “10 ways families travelling around Australia fund their trip” I received a LOT of questions about asking more specifically “How do you fund your family travel around Australia?” And with our 4-year anniversary coming up, I thought I would share as much as we can on how we afford to travel around Australia
Before we decided as a family to travel around Australia we had a clear understanding of our finances. We realised that we would never have any savings if we didn’t learn how to budget. It’s easy to get into debt but paying it back is much harder!!
How did we fund our family travel around Australia?
If you have read our post About us you’d understand we lacked direction and a goal. That’s what sparked the whole idea of leaving the life we had and hit the road.
Purchased second hand
Because we understood our budget and savings, we knew what we could afford for our car and caravan. The more we spent on these items, the less we would have on our trip. So in true budget style, our car and caravan were secondhand and it saved us what we estimate to be around $55,000.
We were really fortunate that our van was already set up for free camping and we didn’t need to spend extra money on solar panels etc. We even managed to haggle a generator into the sale which saved us money too.
Sold us much as we could
Right before we departed on our adventure we decided to sell as many of our belonging as possible. This was a great boost to our travel kitty plus we didn’t need to pay huge storage fees.
How have we financed 4 years of travelling?
We are a travelling and WORKING family! We started our trip just on savings and like I said we have made mistakes along the way and learned from them. Each year on average we have worked 5 months and have had the opportunity to live in some great towns.
Stopping in Mt Isa was a smart financial choice for us. Although it wasn’t a destination we wanted to stay at too long, it did give us the opportunity of a double income. My husband was working 12 hours a day while I was schooling the girls and then worked at nights. There were months where Matt and I only seen each other briefly as we crossed paths before I went to work for a few hours at night. We set a really tight budget and worked really hard to achieve certain savings goals. The biggest motivator for us was to take our children overseas (Hong Kong and Malaysia). We would never have been able to do this if we both didn’t work.
Plan and budget
We’ve become smarter with our travel plans. We plan and budget our trip in 8 weeks intervals. That way we don’t get overwhelmed by the planning and researching our whole lap. Doing this has helped us see when we need to stop and work. Plus we can plan our trip towards a town that has more employment.
We reduce our expenditures and we have no debt. When we started our travels we kept our house as a rental property. But after two years of keeping this property, we realised that it was costing us too much and we decided to sell it. It was the best financial decision for us as it gave us a lot more financial freedom.
You can do it too!
If you truly want to hit the road and travel around Australia then set yourself a goal. You don’t have to do the lap all at once. If you do have a little debt that will take a long time to pay off then why don’t you start with shorter trips? You could start with the state your living in with a basic tent and do smaller camping trips.
Travelling has been the best decision for our family! Who know’s when we’ll stop and to be honest I dread that day as we have such a great lifestyle now. But right now we work hard to keep going and enjoy as many amazing moments as we can get.