View Full Version : Finances
Hi all! I'm trying to decide about doing a thru hike in '08 and am looking at the finances of it right now. I'm looking for feedback or help finding a similar post (already tried to search, but had a hard time coming up with something)...I know I need to calculate bills (car, insurance, student loans, no rent...am I missing anything obvious) that I will have to pay while I'm gone, but I'm not sure how to calculate food expenses and motel/hostel expenses. Thanks for your help! Alse, are there any expenses I'm not looking at?
StarLyte
02-05-2007, 21:29
Ideas (http://www.whiteblaze.net/forum/showthread.php?p=22959#post22959) for an inexpensive thru hike. Weathercarrot.
mountain squid
02-05-2007, 21:45
Here is a recent thread:
http://www.whiteblaze.net/forum/showthread.php?t=20459&highlight=money.
If you haven't got your gear together yet, do alot of research and ask questions here. Hopefully, you'll make good gear decisions the first time.
Aside from gear, in-town expenses can add up quickly. If you take many zeroes in town or if you do alot of slacking, your food and lodging expenses could be considerable. I like to take neroes, which help to limit your time in town. A nero would be stopping short before getting to town and then going in the next morning and getting all your chores done. You can either hike out the same day or only stay in town for one night.
Also, if you drink alcohol...
See you on the trail,
mt squid
the_iceman
02-05-2007, 23:42
You have all your normal expenses to maintain your realworld life. Did you cover health insurance?
Food is going to be a little more than you spend now because you are going to be buying it in small stores and more pre-packaged stuff. You can estimate the cost of lodging by looking on the articles page and looking at the different hostels and hotels. You also need to plan on a cushion for the unexpected.
Stay out of town if you can to save $.
Thanks for your help. I thought of health insurance, but haven't really looked into it...I don't really much understand how insurance works...can I usually stick with what I already have, but pay out of pocket? Do you give yourself less coverage for those months? Is there a trick to it? Any advice?
Shoot, sorry, a recent thread slipped past me...I just saw it. Sorry, nevermind.
It may be in the article, but I'd also recommend budgeting for a couple of months of bill coverage for AFTER you get back, unless you're just dying to go right back to work (and honestly...who would be?)
I'm a total budgeting nerd, so if you want to pm me or email me, feel free. I'll talk budgets and $ all day long if you want. Good luck!
The Weasel
02-07-2007, 15:26
Some thoughts on health insurance:
First, leave the AmEx card home, but under no circumstances should you leave home without medical insurance. If you had it from a previous job, try to get your employer to grant you a leave of absence, with you paying the premium. This prevents breaks-in-service, which can be terrible if you come down with a chronic disease or injury such as heart attack, Lyme Disease or serious muscular/skeletal conditions (which might be excluded in a 'new' policy later as a 'pre-existing condition'). If not, try to make sure you get "COBRA coverage" (usually up to 2 yrs of coverage) that you pay your employer for. This can be critical if you DO get something, since when you go back to work, many (NOT ALL) policies will cover a pre-existing condition.
Also be aware that when you return to work after your hike, even the same employer may not offer you the same coverage you had, or may not offer it right away. Check with your employer before you quit or as soon as possible.
Insurance will cost you from $200 a month up to $1000 (us oldies esp) a month. It can be worth it both for your hike and to keep it so you don't lose it.
The Weasel