Financial Report of a Solo Traveler

By Jack Moseley

Throughout the summer of 2022, I took a nine week solo trip across Latin America. I spent three weeks in Peru, in Cuzco and Lima; two weeks in Ecuador, in Quito and Cuenca; three weeks in Colombia, in Bogota, Salento, and Medellin; and one week in Panama, in Panama City. At the time, I was 19 years old, and I had just completed my first year of university. I had extensive travel experience, but this would be my first time traveling alone. 

Whenever the trip comes up in conversation, I’m often asked about my motivations, the obstacles I faced, and the triumphs I enjoyed… but more than anything I’m asked about how I paid for it. The aforementioned questions will certainly make an appearance in the future, but the following will be limited to the finances of the trip as a whole. 

The net cost of the trip was $4,580. At a level of gross oversimplification, this amounts to $73 spent, on average, for each day of the trip. 

When deducting the cost of flights and large experiences, that average drops dramatically. I spent $1,627 for nine flights over the summer. As far as large experiences go, I spent close to $850. This price includes a trek to Machu Picchu, a mountain biking trip in the coffee-growing region of Colombia, and a day trip to an island off the coast of Panama, among other things. 

This drops the cost of the rest of the trip to a total of $2,103, with an average of $33 spent per day. This money covered my housing, transportation, food and drink, as well as any money spent on souvenirs. This is the number that I’m most proud of—I was able to do so many things on such a small budget. I usually stayed in hostels, often sharing a room with ten or more people. My housing ranged from as low as $6 to as high as $40 per night. I scoured cities for unique street food options, and when necessary I haggled with taxi men and shopkeepers (with varying degrees of success). I had to plan each day to maximize my cost efficiency, and I had to think twice about any purchase I made in order to stay within my budget. 

Through this lens, perhaps what I learned most after solo traveling was my personal limit of frugality. In college, I’ve been able to reasonably provide for myself, thanks to scholarships and work, but saving any significant amount of money has proven difficult. This trip completely depleted my reserves, but by applying what I learned over the summer, my cost of living has plummeted. I have been able to save more money than ever before, and as a result, traveling in the future isn’t only a dream—it’s a plan.

Jack Moseley, of Glasgow, Ky., is a member of the McConnell Scholar Class of 2025 at the University of Louisville where he plans to study chemistry and political science.