Is it ok to spend all of your money on travel.

You should budget your money that some of it can afford you to travel , then some for your necessities and some for savings for future use .

@paru1008 No we should never spend everything while traveling. I prefer to use the money in some other useful purpose by saving few bucks while traveling.

Travel is my biggest passion. I love to travel and I would travel around the world right now if I had the money. I save up money for travelling, but I also make sure that I have some money for unexpected bills and things like that. It is tempting to spend it all on travel, but I don't want to end up in a bad situation because I spent all of my money on a trip. In your situation I think that I would do both. Save up some of your money for retirement and spend some of it on travel. You have less money to spend on travel that way, but it is possible to travel without spending a lot of money if you sleep in hostel dorms and choose the cheapest type of transportation. Maybe it is also possible to earn some money through travel. You could become a tour guide, you could write and sell articles about your trips or you could sell your photos after your trip. You will not get rich that way, but you might earn a bit of extra money.

Travel is something I too love but I would not want to spend all my earnings on it...It is better put away a little amount each month towards travel in a separate account so that you don't have to feel guilty about spending on travel..

Certainly not ok unless you are gypsy.

Well you can travel in a budget ..Yes we all need money for retirement, but we cannot deprive ourselves totally of doing things in our youth while we are able.

I prefer travel than saved money .it is an investment for my mind ,I cant do it when I was old enough .I only young once.how about be a tour guide .you can travel ,don't need spent money

You need to save for a rainy day, even before you get to retirement. If you have a trust fund I could see where travelling the world would make sense. But if this is not the case, I suggest you listen to your elders.