One of my top destinations in Latin America was Salar de Uyuni in Bolivia. Crossing the Andes by bus was quite an experience, though I ended up stuck in Northern Chile for a week due to heavy rains and protests. Nothing worthwhile comes easily.
Many people believe travel is prohibitively expensive.
In fact, you might find it cheaper than your current home! During my seven-month adventure across 11 countries in Latin America from October 2014 to May 2015, I meticulously tracked every peso, dollar, and boliviano I spent through an expense tracking app. The analysis took hours, but it resulted in an insightful breakdown of my expenses below. (I never want to see a spreadsheet again!) This includes everything from toilet fees to beer!
Before embarking on any major journey, I eliminate my bills and concentrate on saving for travel. In earlier posts, I've explored travel costs, solo traveling, safety measures, banking while traveling, and preparing for long trips. I typically aim to maintain a budget of $1,000 USD/month, translating to about $30/day. While this was manageable in Asia, I anticipated challenges in Latin America due to high transport and visa fees. I like to have at least $10,000 saved before any long-term trip, which includes a buffer for my return. For this Latin American journey, I saved $15,000 to accommodate the higher travel costs. Importantly, I have NO debt, which I previously discussed in a 2014 post.
All amounts are in U.S. dollars
Total Trip Cost: $9,714.38
Monthly Average (7-month trip): $1,387
Daily Average: $46
Countries Visited: 11, including Mexico, Cuba, Panama, Costa Rica, Colombia, Argentina, Chile, Uruguay, Bolivia, Peru, and the Maldives (I was flown to the Maldives by friends for their stunning wedding!).
Major Expenses: Machu Picchu ($229 for transport from Cusco and entrance), 4-day tour in the Peruvian Amazon ($402), a month in Patagonia, Torres del Paine ($246.47 including food, entry fees, gear rentals, camping, and transport from Puerto Natales, Chile), Cuba ($500 for two weeks); Bolivia Salt Flats ($179); Spanish classes ($259.30).
Summary: Overall, I remained under my $15,000 budget and returned to the U.S. with the planned cushion fund of $5,000. I did exceed my initial expectations, particularly after falling in love with Argentina and spending two months there, including a month in Patagonia. Is it feasible to do this trip for less? Absolutely! This post aims to provide a glimpse of the true costs of travel and to dispel myths. I don't regret a single dollar spent!
Comprehensive Expense Breakdown
Accommodation: $2,252.54
I primarily stayed in dorm beds at hostels, costing between $8 and $40 per night. I shared larger private rooms with friends I met along the way and rented an apartment in Buenos Aires for $35/night, splitting costs with a friend.
Transport: $2,821.02
(Transport $2,545.22 & Visas $275.80)
- This includes all modes of transport (taxis, trains, flights, ferries) and visa fees.
- Visas: Argentina $160 reciprocity fee (As of 2016, Americans are exempt from this fee); Cuba $25; Bolivia $60 for a one-month entry.
- Flights: I took 15 flights but only paid for four, thanks to my skills as a frequent flyer mile expert. (This doesn't include the six flights to the Maldives for my friend's wedding.) Domestic flights within Peru cost only 6,000 miles each way, allowing me to fly multiple times to save time. I booked award flights one to six weeks ahead. I concluded my trip in Lima, the most economical spot to fly back to the U.S. from South America. (Trust me, I did thorough research.)
- Overnight buses were my main travel mode; the most expensive were in Argentina, costing at least $100 each. I traveled solely by bus and jeep from Ushuaia, the world's southernmost city, to Cusco, Peru.
- I took a $150 overnight ferry from Panama to Colombia, rejecting a $400 one-way flight for a short trip.
- To reach Aguas Calientes, the gateway to Machu Picchu, you can either take a train or trek for seven hours. With 30 pounds of camera gear (and a gnome), I opted for the scenic train at $150.
A highlight was a four-day Amazon tour in Iquitos, Peru, where I captured this squirrel monkey photo from a boat on Monkey Island.
Entrance Fees/Tours: $1,053.43
This covers all museum entries, archaeological sites, hikes, national parks, and cultural sites like Machu Picchu ($40); the 4-day Amazon tour in Iquitos, Peru ($403.91); Torres del Paine admission ($30); Bolivia Salt Flats tour ($179).
Food: $2,419
(Dining out: $1,565.97; Groceries: $299.92; Beer: $269.99)
- Food is one of my favorite aspects of travel! As I get older, I find myself spending more on meals. I enjoy good food and steer clear of ramen, but I consume a lot of peanut butter. I often make peanut butter, banana, and honey sandwiches for long bus rides or travel days when food options are limited. (TIP: Always bring a jar of natural peanut butter – it's often hard to find or expensive abroad.)
- I indulged in steak and fresh berries in Argentina, which were incredibly affordable.
- Cooking in hostels with fellow travelers kept my meal costs low, typically just a few dollars per meal. I also aimed to stay at places offering free breakfasts.
- I spent only $13.12 on water since I brought a Sawyer MINI water filter, saving money and reducing plastic waste. Tap water was safe in Argentina, Southern Chile, Panama, and certain regions of Colombia and Costa Rica.
Toiletries/Medicine: $144.55
(Toiletries: $54.39; Medical: $90.16)
- This covers essential items like shampoo, ibuprofen, toothpaste, and bandages for my knee injuries during a morning run in a Buenos Aires park.
- Contact solution cost $20 in Panama! I always try to purchase sunscreen and contact solution in the U.S. before leaving, as they can be hard to find or overpriced overseas.
I bought adorable llama clothing in Sucre, Bolivia.
Clothing/Laundry: $102.25
(Clothing: $45.83; Laundry $56.42)
My clothing purchases were limited to socks and a llama sweater/gloves for Bolivia and Peru. I generally pack for warm weather, as I dislike the cold. It's often cheaper and easier to buy a llama sweater, gloves, and socks than to lug around winter gear for five months. For my top 10 packing essentials, check out this post.
Insurance: $321.75
I spent $50/month on travel medical insurance with zero-deductible coverage and emergency evacuation, along with an adventure sports rider from IMGlobal. I also opted for 30 days of home coverage post-return to sort out my American insurance. I cancel my U.S. health insurance for long trips, as most policies offer limited international coverage.
Miscellaneous Expenses: $599.84
This includes: Pay toilet fees: $3.91; Gifts: $34.65; Postage: $56.92; Spanish classes $259.30; Wi-Fi: $16.42; Tips: $36.17; Other: $192.47
QUESTIONS: After sharing my travel finances, I'd love to hear from you! What topics would you like covered in future posts? Feel free to comment below or email me. I'll respond as soon as I can or address your inquiries in a dedicated post.
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