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Before embarking on her backpacking adventure through Europe, Bailey saved approximately $10,000. After four months of travel, she spent around $9,000, and she recommends a minimum of $2,500 for a month in Europe. However, the amount should be adjusted based on the destination; places like Southeast Asia may allow for lower budgets, while countries like Australia may require more substantial savings. Establishing an emergency fund of about $5,000 ensures that unexpected issues don’t derail the journey.