Although our Poker Pilgrimage is still five years away, we spend a lot of time thinking about its viability and about building a budget for our dream. We are fortunate to work as consultants and thus know that we will be able to take our jobs on the road. However, a year of travel (and poker!) will certainly lead to reduced hours, and a wide variety of costs (gas, food, lodging for a start) that are different than those we face today.
On the other hand, we plan to give up our apartment and one of our cars, as well as taking other actions that will reduce or eliminate costs that we bear today. Our Pilgrimage budget will both help us get an idea of the costs we can expect during our year of travel, as well as tell us how much we need to start saving today for a successful trip.Building a Budget for a Dream Click To Tweet
While we will offer a rough budget today, we intend to update this budget regularly as we take deeper dives into each aspect of our proposed travel experience. We will categorize these posts in our “Building the Stakes” thread if you would like to follow along as our budget develops. We will also keep our most current budget posted on our Trip Status page.
For our first budget, we share our original baseline estimates for our yearlong trip.
|Monthly Budget Category||Amount||Notes|
|Lodging||1800||Assumes $60/night at VRBP or AirBNB|
|Phone / Internet Access||150||Need to Explore Options|
|Health Insurance (couple)||1200||Need to Explore Options|
|Car Insurance (1 car)||60|
|Groceries||300||Need to estimate|
|Gas||400||Need to calculate|
|Car Property Tax||50|
|Dining||600||Need to estimate|
|Entertainment||200||Need to estimate|
|Poker||1000||Need to estimate|
As you can see, we are starting with a very rough estimate. Over time (and a number of future posts!) we will fully explore each of the items above to refine our budget. We will share each of these explorations in a post so that you will learn the financial ins and outs of poker travel along with us.
In future posts we will also talk about how we have started side-hustling to make a little extra cash to start putting away for our trip. And how we work to shave our current budget to get more into savings for our dream.
If you have any questions about the initial budget we are building or why any of our numbers are as they are, feel free to ask in the comments.
Like this post? Head on over to the sidebar and subscribe. You will be alerted whenever a new Poker Pilgrims blog post goes live!