Embarking on a new chapter in life, we decided to embrace a “slow travel” and digital nomad lifestyle in the United States. Our first month proved to be an eye-opener – exciting, liberating, and a bit more expensive than initially anticipated. Join us as we break down our expenses for May, revealing a total of $11,428, and sharing the realities, challenges, and joys of this adventure. This post offers a transparent look at the costs involved in American slow travel retirement and provides valuable insights for anyone dreaming of a similar experience.
May Expenses: A Detailed Breakdown
Our total spending for May reached $11,428, which was higher than our initial projections, suggesting a potential annual expenditure of around $130,000. It’s crucial to remember that this is just our first month and adjustments will likely be made.
A significant 80% of our expenses fell into three primary categories:
- Housing (36%): $4,087 (Hotels $2,027 + Airbnb $2,060)
- Food (24%): $2,769 (Restaurants $1,906 + Groceries $863)
- Transportation (17%): $1,970 (Primarily a semi-annual car insurance payment of $1,400, gas $300, and repairs $100)
Comparing Accommodation Options: Hotels, Airbnb, and Apartments
Finding the right place to stay is crucial for comfortable travel. We’re exploring different options, and each has its own advantages and disadvantages. Airbnb and hotels tend to be similarly priced, but Airbnb offers a larger space and a more “lived-in” feel, making it ideal for longer stays. Apartments are a great option for settling into a community, but the lack of flexibility, including paying rent during vacancy periods, can be a drawback. Hotels offer flexibility and access to prime locations, which is beneficial for shorter trips. Owning a home provides affordability, but limits freedom, while renting offers flexibility but comes with a higher cost. Ultimately, the best option is dependent on individual needs and priorities; there is no one-size-fits-all solution.
Food and Lifestyle Habits: The Dining Dilemma
We found ourselves eating out more than anticipated initially. This was largely due to the convenience of being on the road and the joy of family gatherings. However, we acknowledge that this contributed significantly to our expenses. Looking ahead, we’re committed to reducing our dining-out frequency by embracing home-cooked meals, which is both healthier and more economical.
Transportation Costs: Gas, Insurance, and Maintenance
A large portion of our transportation expenses were due to the semi-annual car insurance payment. We plan to spread this cost out across the year for a more accurate monthly assessment. Gas prices are more favorable in some areas, and we drove approximately 19,000 miles this month. Fortunately, our newer car requires minimal maintenance, which is a necessary expense for self-driving travel.
Healthcare and Lifestyle: Prioritizing Well-being
Maintaining our health and well-being is a priority. Our monthly healthcare insurance costs $360, with an additional $65 for dental insurance. We also enjoy occasional massages and other small, out-of-pocket expenses. To enrich our experience, we’re incorporating activities like mini-golf, gym memberships (LA Fitness: $40/month, nationwide), and beauty treatments into our lifestyle.
Shopping and Essentials: Convenience and Sustainability
Our spending included clothing purchases (like a Patagonia jacket), equipment for video creation, and essential household supplies. We’re committed to sustainable practices, recycling old clothes for discounts on new purchases. To enhance our travel convenience, we utilize iPostal1 for mail receipt, Apple cloud services, and an international mobile phone package.
Budget Reflection and Money-Saving Tips
Our May expenses exceeded our initial projections due to a combination of factors, including family gatherings and the pre-payment of insurance. We’re aiming for a monthly budget of around $8,000 moving forward. Our plan involves carefully selecting accommodation types, prioritizing home-cooked meals, and proactively planning for any significant expenses.
Looking Ahead: Embracing the Journey
Living a slow travel lifestyle is incredibly freeing, but it comes with a cost, with housing being the most significant expense. We’re committed to sharing our ongoing monthly expenses and financial insights to help others understand the realities of American slow travel retirement. We hope our experiences, both the successes and the challenges, will inspire and inform your own travel dreams.
Key Takeaways:
- Housing represents the largest expense in slow travel retirement.
- Airbnb and hotels each offer distinct advantages depending on individual needs.
- Dining out and unexpected events, such as family gatherings, can significantly increase monthly spending.
- Transportation insurance and healthcare insurance, as well as other large expenses, require careful planning.
- Utilizing digital tools (such as accounting software, virtual mailboxes, and international phone packages) can dramatically improve travel convenience.
- A balance between freedom and budget management is essential for enjoying a fulfilling retirement lifestyle.
Join us on this exciting journey as we continue to explore and share our experiences!
