View Full Version : Advice/tips on saving up for a thru?
drastic_quench
02-05-2009, 17:06
How does one go about squirreling away 4k to hike the AT? Separate savings account? Buried money jars (heh)? X percentage of paycheck over X years? I'd just like to hear advice and anecdotes about how you afforded your hike - or plan to. Thanks.
Slo-go'en
02-05-2009, 17:45
Save all your loose change, that can add up after a while. Start a savings account just for the trail and add to it as much and as often as you can, get a second job (or a first one!) learn to live a frugal life style so you have more to save, etc, etc.
Oh and most important, don't get married and/or have kids, that will suck you dry!
YoungMoose
02-05-2009, 18:15
Get a second job and live with the basics.
Spirit Walker
02-05-2009, 18:17
It's all about choices. We live a very frugal life in order to do the travels we have done. I can't remember the last time I saw a movie, much less live music or theater. (And I love both.) I rarely buy clothes. We lived like college kids for years on cheap used furniture - didn't buy real furniture until we reached a point where we thought we were through traveling. (That didn't last!) I love to eat out - but it's usually hamburgers not steak and not that often. Our truck is 9 years old. We don't have cable TV and our internet is free. I make my own coffee, I don't buy it at Starbucks. When I'm on the trail I'm willing to spend for a night at a motel or a good meal - but when I'm saving for a trip - I think twice before buying anything. One of my pretrail thoughts has always been "If I buy it now, I'm going to have to pay to store it. It can wait." There are remarkably few things that can't wait. Most of what I do buy I wait until it's on sale (i.e. drug store items and food.)
Living cheaply has always been easy for me - even when I had a good job. I am always saving for the next adventure. When I was in college, the scholarship folks sent a questionaire about how well we were living on the small amount of money we were given. I answered that I was doing fine. My roommate was astonished. "You live like a pauper. You never spend money." It worked for me, though she would have been miserable on the same amount. Same now. I live a very simple life - but I'm happy with it.
Mother's Finest
02-05-2009, 18:24
can of tuna and mac and cheese.
save every scrap of money you have.
peace
mf
le loupe
02-05-2009, 18:25
despite the logic of price/cost averaging- I quit contributing anymore to my IRA beyond what I need to get matching funds (free money) from my employer.
I squirrel the difference away into my safe.
Stay away from booze, smokes, fancy cars, women, ect.
How does one go about squirreling away 4k to hike the AT? Separate savings account? Buried money jars (heh)? X percentage of paycheck over X years? I'd just like to hear advice and anecdotes about how you afforded your hike - or plan to. Thanks.
Join the circus! Or, in your case get another job shoveling snow or ice fishing! No serious, if U start saving money on the things U take for granted it adds up. Eliminate those coffee runs or packs of smokes($5.50/ pack). Get a second job or if U don't have one get one. Keep brainstorming. Your mind will come up with solutions if U want it enough!
Jim Adams
02-05-2009, 20:24
I save all my change that is in my pockets at the end of the day.
Attempt to save $50 from every paycheck in a seperate savings account...and although I hate letting the government use my money for free, I have an extra $20 in federal taxes taken out each pay. My tax return usually gets me about $2000 back so that adds a great start to my thru money just before time to leave.
geek
Blissful
02-05-2009, 20:27
Work and save. I did for ten years. Don't buy stuff you don't need, stay with your old car that has $150,000 miles, things like that. :)
garlic08
02-05-2009, 20:29
Cutting down the expenses is my method, too. No cell phone or TV, ride a bike when you can, burn free gathered wood for heat. There's lots of free entertainment, magazines, and internet at the library. It's not poverty. I often feel my life is richer than many of the people I see spending lots of money. And you'll be more ready for the trail life.
fiddlehead
02-05-2009, 20:35
Simple, just learn to live well within your means.
When you get paid, just act as if you didn't.
Get rid of all your bills. (I have one left that's tough to get rid of: electric bill but i'm thinking of putting in a windmill or solar to get rid of that one)
Buy ALL your clothes (and most of your hiking gear) from thrift stores and do that on the discount days.
Learn to cook and fish and eat more rice.
not so hard and better for you anyway.
make a deal with your neighbor who has wireless internet to clean his gutters and sweep his street in exchange for tapping into his signal instead of paying for DSL.
Learn to make your own beer, plant a garden, fruit trees, learn to sell things on ebay and ..............the list goes on and on.
Just don't spend money basically.
fiddlehead
02-05-2009, 20:38
Work and save. I did for ten years. Don't buy stuff you don't need, stay with your old car that has $150,000 miles, things like that. :)
I just bought a new pickup truck (new for me)
Has 198,000 miles on it.
runs like a charm.
I just bought a new pickup truck (new for me)
Has 198,000 miles on it.
runs like a charm.That thing is practically just off the showroom floor. I bought my old benz with 304,000 miles on it and will be pissed if it craps out before 450,000 . Old school german overengineering
Wow, who would have thought that WB has all these adequate Financial Advisors/Managers hiding in the woodwork. Maybe, a hiker should be on Pres. Obama's Economic Advisory Committee
It's not poverty. I often feel my life is richer than many of the people I see spending lots of money. And you'll be more ready for the trail life. Damn Right! And, I've had the money to spend at times.
HikerRanky
02-05-2009, 23:38
Lots of great advice in here for sure...... Been married for 26 years, and the wife and I have always lived a conservative lifestyle.... Save money, pay cash for things.... You don't need the latest and greatest on everything.
We bought a truck in 1989 for $6000... Had only 50,000 miles on it.... Sold it last year for $500.... Had 468,839 miles on it.... Still ran good... Found another with 80K miles on it for $6000.
Establish your priorities and stick to it...
Randy
I married a rich woman, worked for me:D
Just Lisa
02-06-2009, 00:38
I'm saving for a 2010 hike. I got rid of my house phone and just have a cell phone..that will save me about $800 this year. The only re-occuring bill I plan on carrying into the hike is a cell phone bill. I will be giving up my house (I rent anyway), and will be pretty much selling everything I own so as to not have a storage bill. LOts of yard sales this year!!! Just saying "no" to using the credit card for things I can't pay cash for quickly. Keeping my fingers crossed !
Theres a book called "Your Money or Your Life" written by Joe Dominguez and Vicki Robin that I use to keep track of my finances. Long story short, it teaches you to keep track of every cent you make and every cent you spend and use a line graph to see exactly how much you saved in a months time.
I've been doing this for 5 years now and it's working well for me.
At first it seemed kinda stupid when I skimmed it over and the book sat on the shelf for a while, but when I got around to reading it, I was bummed I didn't read it sooner!
It's great in the fact you can SEE where your money is going and how much you are saving each month. It's really not hard at all. At the end of the day, if you spent any money, (keep all receipts) record it in on your monthly tabulation sheet. (You make this yourself) You have a column for rent, food, clothing, health, hiking etc..
Then at the end of the month, add up your income and expenses and record it on a line graph. This all fits in a small 8 by 10 binder I keep in my desk at home. It's really easy and I enjoy when I have a good saving month. Believe me, if I can do it, anybody can.
Then they say to put your savings in treasury notes and make another line on the graph to see how much interest income you got coming in.
When your interest line hits your expenses line your golden!!
I don't see that happening to me any time soon, but the author did just that. He saved $100,000 at 6% or so, and never worked again.
He also never used any money from the sales of his book. (They give it to some charity)
Even if you don't put your savings in Treasury notes(bonds), it's a great way to see where your money is going and makes you think what is really important to you.
Anyway, good luck with your savings and check the book out at the library if your interested.
Save all your loose change, that can add up after a while.
I've paid for several vacations with change. My last vacation I paid for with close to $1000 in coins. I rolled it up and took it to the bank though, but still, 1K in coins.
daddytwosticks
02-06-2009, 08:47
Saving up for a thru...work all your life, stay married to the same wonderful woman, raise two great kids, and hope you survive to enjoy your hike when you retire...
I think the best way is to save up for a long hike is to hike cheap locally. Basically try and live each day as much as possible the way you would want to live on a long hike.
Shop less. Hike more.
If its frugal enough, it should be the time that is most critical, not the money.
PatrickONeill
02-16-2009, 02:51
That is a great point you make that aside from saving money, you will also be adjusting to trail life.
Drain what's left of my 201-K.
4eyedbuzzard
02-16-2009, 07:33
Stay away from booze, smokes, fancy cars, women, ect.
You're killin' me here!
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