I make a tight budget and follow it to a tee. I also use cash for variable purchases, and give myself a cash allowance each month.
Here's an example breakdown:
- You make $2,000/month, in two pay checks.
- First Paycheck: Car Payment ($200), Insurance ($100), Phone ($50), Subscriptions ($50, Netflix, WoW, Amazon, etc).
- Second Paycheck: Rent ($500), Student Loans ($100).
- Each paycheck you have $1000, of which $600 goes to preset costs. This gives you a flex amount of $800/month. From there, I will take say $200 each paycheck and that will be for food, gas, entertainment, etc (aka variable costs).
- That $400 left over moves into savings. Each year, you could comfortably take a $1500 vacation and still have around $3000 in savings.
For the actually traveling bit, you have to do bargain hunting and accept that you won't be staying in luxury if you plan to travel more than once a decade. You can usually find tickets to Europe from CA for around $550 if you search ~6 months out (cheaper for the East Coast), and this can go even lower if you hunt for package deals.
Once you get to whatever part of the world you're in, you need to follow a budget for that as well. If you have $2000 for a trip, and you blow $750 on a plane ticket, how long can you make that $1250 last?
If you eat at affordable restaurants, and stay in cheap motels/hostels/camp, you can probably get by on around $40/day (I did some backpacking in Germany and was able to keep it around $25/day). If you stay for 14 days (which I did), you're looking at around ~$500-600 in room/board costs, plus anything else you want to do. With the extra money you could go to pubs, eat a little more upscale, or just save the remaining money for the next trip.
For the heck of it, I priced out a trip for you, if you left Nov 1st, and returned Nov 15th this year. (as an example). I will use my Germany trip as a guide.
- Plane ticket: British Airways, LAX (Los Angeles) to FRA (Frankfurt, Germany). Cost: $523.84
- Average hostel cost in German cities: $10/night, German Countryside: $5/night. So: 4 nights in cities, 10 in countryside: ~$90.
- Train tickets: you'll need 4 to hop around the major cities easily, so about $80.
- Average meal cost in Germany is roughly $11, but you can find cheaper if you ask locals, or do some research before hand. Taking a look at some restaurants in the major cities and regions I visited, I'd say $25/day is good, or $350.
- Let's give you $200 for extra expenses, or do whatever you want money.
Altogether, $1250 pretty easily. I did my trip for around $950 personally, but I got $100 off on the airline ticket, and I was willing to visit grocery stores to buy food instead of always eating out. And remember this is from Los Angeles to Germany. The UK is cheaper, as is France (outside Paris). Staying in North America is much much cheaper.
My last little bit of advice: if you can, shave back costs. My rent is incredibly low, and I keep it at around 10% of my income, instead of the recommended 36%. I only use Netflix & WoW as entertainment, everything else is things like hiking, movies, hanging with friends, etc. I buy bulk, freeze, cut coupons, etc, and spend about $150/month on food.
But that's only if you love to travel (which I do). If you prefer to have a more luxurious home life, then probably don't go as extreme as I have haha.