I thought I was a decent cheapskate traveller until I read this article about a 67 year old woman who's been traveling the world on $65 a day. It really does go to show that when there's a will there's a way. No hostels for me I'm afraid, but in much of Latin America (once you get outside of the big cities) and Asia $20-40 a night for lodging and another $20 for food works fine.
The big issue as I see it for her is whether she can continue to buy repatriation/evacuation insurance as she ages, as most travel insurance won't cover you after age 67 or so. You can pay for doctor visits, dental work and minor emergencies out-of-pocket most anywhere in the developing world for pennies on the dollar vs. U.S. costs, but something major could be a disaster for her. Otherwise, more power to her!
http://www.nytimes.com/2013/05/15/booming/free-from-work-and-seeing-the-world-on-a-budget.html?smid=fb-share&_r=0
The big issue as I see it for her is whether she can continue to buy repatriation/evacuation insurance as she ages, as most travel insurance won't cover you after age 67 or so. You can pay for doctor visits, dental work and minor emergencies out-of-pocket most anywhere in the developing world for pennies on the dollar vs. U.S. costs, but something major could be a disaster for her. Otherwise, more power to her!
http://www.nytimes.com/2013/05/15/booming/free-from-work-and-seeing-the-world-on-a-budget.html?smid=fb-share&_r=0