Funding Your Travels During A Gap Year - How You Can Do It

During school, we can often think of the time where we don’t have to be thinking about studies or exams. A chance to let our hair down and experience all of what life has to offer. At some stage in your educational journey, you may be able to take a gap year where you can do exactly that. It is always going to be an appealing option for some people, and many use it to travel and to gain some work experience during the time they have. However, one thing that many people get concerned about is how they may fund their trip. So here are some of the things that you can consider before your gap year begins and during it to help you get the most out of the time that you have.

Image via Pixnio
Image via Pixnio
Before you go

Before you begin your gap year, you have the opportunity to try and save and build up your finances as much as you can. You will possibly have plane tickets to book and pay for, or even trying to ensure that you have some accommodation to stay in during those first few weeks or months. So planning is going to be key, and some of the ways you can build up your finances to do this can be done within plenty of time of you leaving for your trip away.

Save up when possible

We can all save when we can, and so if you have decided to take a gap year, this should be when the saving begins. It could be anything from financial gifts you received for birthdays or Christmas. It could be from a part-time job that you have where you save all of your wages to build up to your financial goal. Saving little and often is going to be the key here, and the more you have in advance,
the easier your journey will be. Giving you more time to get settled into your new country and home.

Sell unwanted things online

You are bound to have things in your home or your room that you no longer need. This could be anything. You may have upgraded your mobile phone and so have an old handset in a drawer. You could have done a similar thing for laptops and tablets. Maybe you have unwanted clothes that no longer fit or that you don’t like the style of anymore. It could be old furniture, old items, and accessories, anything. Selling these things online on platforms like eBay could be a great way to boost your income. Not only do you get the financial benefit, but you will have decluttered in time for your travels. A win-win situation.

Rent out or sublet your room or tenancy

If you are planning a trip for a while, then you may want to consider your commitments and a rental agreement could be something that you may want to keep due to the nature of being able to get hold of good property. You could consider a sublet where you will rent out your room or rental while you are away. This is a great way to keep something that you have, and also be able to use the money you would have ordinarily spent on funding your travel arrangements. However, make sure that your agreement allows this or seek permission from the landlord or agency before doing it to ensure that you can.

Rent other aspects of your home 

If you have a larger home, then you may want to consider using other aspects of it and renting those out to earn you some extra money, before and while you are away. This could be a driveway that isn't being used. A parking space in a city that you no longer need, or even a piece of land in your home like a field or larger garden that people could utilize in some way. There are plenty of ways you can make some extra income off your home.

Image via Tookapic
Image via Tookapic
During your trip

Once you go away, and you have bought the plane tickets and sorted out some accommodation, you may be wondering what you could do to fund the rest of your trip ad the time you are away. This can be a worrying prospect for many, and one element that can put people off. However, there are things that you can do during your trip that can help fund your travels and experience. Here are some of the ones to consider.

Use credit cards

Credit cards can be seen as not the most practical way to fund your travels. However, they can come in handy to pay for things up front, such as accommodation and travel expenses, and enabling you some breathing space to pay the amount back monthly. Some credit cards can also give you extra piece of mind while using them in a foreign country, so they can be a logical choice. However, you may want to shop around for the best credit cards on the market and also take into account your credit rating. Only use a credit card if you know you will be in a position to pay them back.

Get a job

Part of a gap year experience could be to gain some work experience, and so getting a job could be the logical and easiest ways of funding your trip. Just like being at home, your wages can then pay for accommodation and the things that you want to do in your spare time. It can be a great experience and one that could lead on to other things in the future. It is certainly a great thing to have for your resume.

Make money on the go 

Finally, you could look at ways to make money on the go, and a great tip would be to start a blog. It can be a great outlet for your creativity, and also a way of keeping people back home aware of what you are up to. But many people have turned blogs into money-making opportunities and it could progress onto you being paid to write, and also feature reviews.

Let's hope this has given you something to think about when it comes to funding your travel and gap year dreams.


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