Making Your Motorhome or RV Lifestyle a Reality: Tips on Financing Your Life on the Road

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Do you have dreams of buying an RV or class B motorhome? Many have this dream, but can be discouraged by the price of the vehicle or financing a life on the road. Regardless of whether you’re looking to live in your vehicle full-time or owning one for vacations, there are ways to make it happen!

According to Michelle, writer for the finance and lifestyle blog Making Sense of Cents, there are four main components that go into affording the motorhome/RV lifestyle. First, setting a vehicle budget. Second, creating a monthly budget for travel expenses. Third, finding ways to save money while on the road. And lastly, coming up with ways to earn money on the road.

Michelle says, “Don’t think its impossible! Doing research, preparing finances and being realistic can make it happen!”

1. Be realistic about your motorhome/RV budget.

Pricing can be all across the board depending on what type of motorhome/RV you are looking for. First, you need to decide whether you’re looking for a towable or motorized travel vehicle. Towables, such as a travel trailer, will be considerably cheaper. However, you will need to make sure you have a truck or SUV with proper towing capacity and hookups. Motorized RV’s come in three types: Class A, Class B and Class C. The three will vary in size and features. Doing thorough research on the difference between each class must be done in order to ensure your needs will be met.

2. Create a monthly/seasonal travel budget.

Depending on how often you travel and where, the next step to making your RV goals possible is creating a reasonable budget. Below is a list of some fixed expenses you will want to calculate into your bill:

  • RV payment
  • Food: groceries/restaurants
  • Gas or diesel
  • Propane
  • Entertainment
  • Laundry
  • Internet
  • Campground fees
  • RV insurance
  • RV maintenance/repairs
  • Roadside insurance policy
  • Household items, such as toilet paper, garbage bags, paper towels, etc.

3. Be smart about ways to save.

There are many creative ways to save in order to finance your life on the road. Most people who plan on living or taking an extended trip in an RV or motorhome are quite savvy. Here are some tips.

  • Travel at posted speeds! In addition to avoiding a pricy speeding ticket, driving the speed limit helps you maintain fuel efficiency. Remember, fuel is one of the largest parts of an RV/motorhome budget.
  • Search for campgrounds that only have the amenities you plan on using. RV/motorhome parks can range from simple to luxurious! Some of the sites that have less amenities can have a much lower fees. Many state parks are great options for low-cost site fees.
  • Limiting dining out and utilizing your RV or motorhome’s kitchen or campsite’s barbeque is a fun and easy way to lower your expenses. Shopping local markets for the area’s fresh in-season produce is a way to eat healthier and diversify your diet.
  • Think twice about buying “gadgets” for the road prior to departure. Less is usually more when spending time on the open road. If you find you’re really at a loss for something, it can usually be found while traveling.

4. Find a way to earn money on the road

If your RV or motorhome goals are to spend the majority of the year on the road, there are ways you can make money while traveling. Seasonal jobs at campgrounds, either part-time or full-time, are easier to find than you might think.

Whether you plan on using your motorhome for weekend getaways or your new permanent residence, remember there are ways to afford it! If you’re looking to purchase a new or used motorhome, look no further than Classic Vans.

Classic Vans is located in the San Francisco Bay Area and offers low-cost nationwide delivery for a huge selection of travel vehicles, motorhomes and class B campervans. Contact us to make your road trip dreams a reality!