When it comes to budgeting on the road, there is no one way route. Full time RVers create their own adventures and map out a personal financial journey to help them along the way. Whether you are a big spender or a frugal guru, consider these expenses as you begin to plan for your nomadic lifestyle.
Monthly Payments- Although it is advised to keep expenses down by initially paying off your RV and accompanying vehicles, sometimes this doesn’t happen. We took to the road with an RV loan and continue to pay this off.
Fuel- Budgeting for fuel varies based on your travel plans. On average, our motorhome gets about 8 miles to the gallon. Knowing this, we are able to calculate the cost of gasoline to each destination.
For example, if we are traveling 800 miles to visit family, we know that we will need 100 gallons to get there. After researching gas prices in that region, let’s say $2.50 on average, we know that $250-$300 ought to be set aside. Elevation gain and generator use increase this number.
Auto Insurance and Registration- These requirements are once a year payments we make, specifically with our RV/auto insurance, since it saves money to pay the total upfront as opposed to monthly. Note that RV insurance not only encompasses coverage on the road, but it can also include protection from injury and theft while parked at a campground.
Safeguards- Living on the road makes us vulnerable to many happenstances, so we try to arm ourselves with a few extras for peace of mind. Safeguards like roadside assistance helped us immensely when we slid off the road and had to be wedged out by a tow company. We were able to use our warranty to purchase and install a brand new air conditioning unit when the old one broke while staying in Las Vegas during the summer. Also, keeping a separate savings account just for minor repairs and replacements is a better alternative than charging the bill to our credit card and paying interest on top of it all.
Club Memberships- No RVer is complete without a membership card or two in his wallet. These traveling clubs offer discounts to RV parks and campgrounds, fueling stations, and big box stores. Some clubs also offer mail forwarding services. All mail is collected at their given address and forwarded to desired locations when requested by the RVer.
Health Insurance and Supplemental Avenues- Health insurance has always been a giant question mark for us since we began full time RVing for the simple reason that nationwide coverage is becoming obsolete. In order to reap the benefits of our insurance, we must travel to our primary care physician in our state of residence. Otherwise, we are out of the coverage zone and must pay out-of-pocket. Emergencies are the exception.
Sometimes, we are states away, so we have sought a supplementary program that allows us to contact a certified physician via phone or web, also known as telemedicine. This is not an insurance plan, but it is an avenue that allows us to receive medical assistance for minor issues (and also routine dental and vision check-ups) at a discount. I utilized this resource when I was stung by a bee and my hand swelled up. I spoke to a doctor via webcam within an hour after initial contact. His prescription was sent to a pharmacy a couple of miles from my location for pick-up.
Internet Service- Expenses for internet service depend on how much one relies on the network. Occasional browsing can be satisfied by using free wifi from the public library or McDonald’s around the corner. For RVers that rely on coverage for their livelihood, investing in hotspots and wifi extenders is a necessity. Campground wifi can be hit and miss.
Food and Fun- Our favorite expenses include tasting new dishes, visiting new places, and participating in unique events. Farmers markets allow us to sample produce and staples of the area. We continue to strive to check off places to see on our bucket list but find ourselves adding more. Signing up for one-of-a- kind races (like the run held in a salt mine 650 feet underground) or attending a Comic Con are just a few ways we like to get out and be a part of the location.
What are other expenses we could include on this list to help prepare full time newbies for the road?
Related Blogs