The most important part of creating a travel budget is determining the kind of trip you want to take, so that you can plan accordingly. You don’t want to underfund your trip, but it’s hard to save when spending is limited. Fortunately, a budget can help you figure out what sort of trip your finances will allow and how much you need to save to make it happen. Travel hacks on the road will help here and there, but the bulk of your savings will be determined by the decisions you make before you go.  Pick a place Making a choice on where to visit will set the initial benchmark…

Five years ago, I went backpacking in South America and sprained my ankle on a three-day hike around Ecuador’s Quilotoa Loop. A few days later, I had $2,000 worth of possessions stolen from me. Everything from my iPad to bank cards to my running shoes had been emptied from my bags, and I suddenly found myself stranded abroad with a severe limp and no money.  The people I’d befriended at my hostel in Quito were able to help by lending me money while I waited for my bank to send a new debit card. This took about a week, during which time I rested my ankle and it began to…