My monthly expenses should go down considerably while I’m hiking. My goal for my monthly budget while hiking will be $500 compared to my usual monthly goal of $1000 of expenses. Since I won’t have expenses such as rent, utilities, and gas while hiking the $500 goal is an achievable goal. It won’t be an easy goal but it is doable.
My budget while hiking will break down as follows. My monthly fixed expenses that continue while I’m hiking are $26.81 for my phone and $120.97 for my health insurance and fitness club membership. I’m going to round the fixed expenses up to $150 to keep the numbers simple. That leaves me with $350 to spend on everything else for the month. I plan to spend about $25 a week on food, $25 on hostels/lodging, and $25 on miscellaneous expenses such as laundry and replacement gear. Those expenses add up to $300 a month. That will leave me with another $50 for any other expenses that pop up or to use if I spend to much on food or lodging. This budget should work fine if I can keep my lodging expenses down. Staying too often in motels and/or in too expensive of lodging has caused my previous hikes to be more expensive than they needed to be. I’ll be making a conscious effort to avoid doing that on this hike. There are some $25 or less lodging options available in the first part of my hike which should help.
If I am able to keep my monthly expenses at $500 I should come close to being able to pay my hiking expenses with my online income and passive income sources like Mr. Rebates. I want to avoid dipping into money that has already been earmarked as savings. I’ll be starting with a few hundred dollars that I have set aside specifically for the hike. Since the hike will take between three weeks to three months I feel pretty confident that I shouldn’t have to dip into my savings. When the hike is finished I’ll let you know how I did.