Photo: Moment RF
After almost two years of Covid restrictions, many of us are chomping at the bit to get back to traveling. So on this episode of How To Money, Matt and Joel sit down with Matthew Kepnes, the author of How To Travel The World On $50 a Day. Matthew was working in hospital administration and contemplating going back to school for an MBA when he decided what he really wanted to do was see a little bit of the world. He worked overtime, sacrificed nights out and little treats here and there, and sold all his stuff to save up $30,000 – and ended up spending the next 18 months traveling the world. Now, he runs a successful blog sharing travel tips and deals and documenting his journeys to incredible destinations. Matt and Joel ask him about traveling on so little per day (does it include airfare and accommodations? What about food?) and other practical advice on how to get the most out of your vacation time – and your money.
When it comes to airfare, Matthew says the trick is to be flexible. If you have to go to a certain destination at a certain day or time of year, then there’s not much you can do but pay the sticker price. But if you’re able to be flexible about where and when you go, you can take advantage of incredible deals (like $200 round-trip flights to Japan). Also, make sure you’re using hacks like credit card points. Even a sign-up bonus of 50,000 miles can get you pretty far. Accommodations are another thing to be creative about; Matthew often travels alone, so he praises couch surfing, hostels, and private rooms in AirBnBs as great ways to find a place to stay, meet new people, and save money all at once. But he’s stayed in his fair share of four-star hotels, too – as long as he’s paying for them with points!
Many people feel the need to eat out for every single meal when they’re traveling, but Matthew says don’t do that. Live in your destination like you live at home, or like the locals do, which means cooking. If you’re in a hostel or AirBnB, there’s likely a kitchen you can use to make a hot meal at least once a day, and visiting farmers’ markets or grocery stores is a great way to get a feel for local life and culture. But even if you’re in a hotel, you can still make a sandwich with fresh local ingredients. And if you’re working with limited time, like only two or three weeks of vacation, Matthew says don’t pressure yourself to maximize that time by adding a bunch of destinations. Instead, pick one or two places and really immerse yourself, allowing time and space for the unexpected. ("Travel deep, not wide.") You’ll not only have a more memorable experience, but it’ll be cheaper, too. Get all these great travel tips and so much more from Nomadic Matt on this episode of How To Money.
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