Can I RV for less than $30K a year?

"Can I RV for less than $30K a year?"

The short answer is YES! However, there are so many factors you need to consider first.

Many individuals and families are switching to full-timing lifestyles. Some are doing it to add a little adventure to their mundane, white-picket fence lives while others are doing it in search of financial freedom. We did it for both reasons. Personally, our annual expenses are greater than $30,000 annually. In order for us to abide by current tax laws, we are forced to duplicate expenses in our state of permanent residence and also where we travel for work as travel nurses. Someone who is going full-time and is not hindered by duplicating expenses can easily travel for less than $30,000 annually but it ultimately depends on your lifestyle choices.

The amount it costs to RV annually will vary drastically from family to family. This is where building a budget and understanding your family's monthly expenses really matters. If you are selling your home in order to purchase an RV and travel, it will be a lot cheaper than someone who is going to keep up with their sticks-and-bricks home and is still paying a mortgage and utilities.

There is no simple answer to the cost of RVing because each individual will have a different plan. What works for me may not work for you. For instance, will you be traveling on a day to day basis or will you be staying long term somewhere? If you're camping at a resort for only a few nights, you will average $40-70+ per night for full hook-ups. Another factor to consider is if you would be interested in "boon-docking" or "dry camping" (parking somewhere for cheap or even free without access to utilities). Also, if you are traveling frequently, you have to factor in increased gas costs in your budget. However, if you are planning to move once a month or every few months like we do, you may be eligible for monthly rates which can be way cheaper than nightly or weekly rates.

Here are some of the main monthly cost considerations for full-timing witnessed firsthand:
1. RV payment → is your RV paid off or do you pay per month?
2. RV site → $0-2000+ per month (this is highly dependent on time of year, location, boon-docking vs resort-style parks)
3. RV utilities → some resorts offer free utilities while others charge by usage ~$50-200+ per month
4. RV insurance → also variable ~$50-200+ per month

To decide if full-timing is worth it for you, it is important to consider the above scenarios and costs as well as your other monthly expenses you will have to pay while on the road (phone bill, health insurance, vehicle payments, groceries, credit card bills, etc). I know some full-timers that rarely pay for campsites and may spend less than $3,000 a year on RVing. Others can easily spend a fortune. There are so many variables, but again, the short answer is yes, it is possible. Let us know in the comments what your monthly/annual RV expenses are!

Follow along with us while
We’re Out N About
Lindsay + Chase

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