How to go around the world
How I did it: I've been around the world twice. Being an American, the thought of doing this never occurred to me until I meet an Australian friend who was on a year long sabbatical. I immediately started saving my money. I was just out of college and lucky enough to have parents willing to let me live with them rent-free. A year later at the age of 24, I bought an around-the-world ticket and was off on a solo 6-month adventure. I started in New Zealand and went on to Australia, Singapore, Malaysia, Thailand, and central Europe. I had always been very shy, but the sight of a young woman traveling alone brought out the friendliness in others and I meet many kind people and had great adventures. Seven years later I repeated the trip, this time going with my partner and moving in the opposite direction by starting in Europe. We were away for nearly one year.
Lessons & tips: Around-the-world tickets are the way to go, and aren't that much more expensive than they were 10 years ago. I actually found better deals out of the London bucket shops, and bought a one-way ticket to London with the around-the-world ticket starting there. If traveling as a pair in Europe, I would consider camping - it will be about half the price of staying in hostels for two people. Of course, these days couchsurfing is also a pretty good option and a good way to meet people.
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