How Do You Afford All This | Travel Guide
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How Do You Afford All This?
One of the most frequently asked questions is: I'd love to go traveling, but how do I afford all of this? This question most often comes from young first time travellers - here are ten things they should consider:
1. Live frugally, forget home cinema systems, save the money for travel. Be stingy at Christmas - get people small presents and ask for small ones in return (or even donations to the travel fund!). Keep an eye on all the bills, record how much you spend on things that aren't necessary, and save save save !!.
2. Don't own a car unless you really need it. If you're living in a city do you really need the car ? Road-taxes are high; yearly servicing and legal requirements add up. Plus if you're concerned about the environment - the CO2 from long haul flights will be offset by not driving for a year.
3. Give up SMOKING - what an incredible waste of money! If you don't smoke, give up something else that costs money, and which you really don't need, but do on a daily basis.
4. Avoid debt. Pay off any credit cards; if you have existing debts, transfer your balance to a new credit card which offers discounts on transferred debt and pay it off as quickly as possible.
5. Material possessions - whenever you want to buy something - think about - "what will I do with this when I'm away on my travels?" - if you can't take it with you, then you can't use it, so don't buy it.
6. Don't get caught in negative equity - having a disproportionate mortgage to your income or value of your home will be the biggest tie that binds you to your current job and stops you travelling for an extended period.
7. Have a monthly budget, and stick to it; include putting away some money as savings every month.
8. Get a second job - if you need to, try bar work or something completely different from your day job, use this money solely for your travel fund.
9. Be prepared to work during your travels. If you are under 30 and from the UK, Australia, Canada, New Zealand, or Europe, there are reciprocal agreements enabling you to work.
10. Visit places that are cheap, stay in budget accommodation and be careful how you spend. Some people go travelling and even come back with money from their initial backpacking budget. Location will have the largest impact on the overall cost of your travel. Think about it - a month in Europe will cost you three times as much as a month in South East Asia, so set your itinerary for a whirlwind tour of Europe and a longer spell in South East Asia.
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