10 Jan 6 Ways To Fund Your Travels
Travelling is something that is good for us; it helps us to learn more, to see more of the world, and to broaden both our horizons and our views on everything from politics to culture. Yet travelling is not something that can usually be done on a whim – it costs money, and even if the amount is only small, it is still something that needs to be accounted for. Just where is that money going to come from? You don’t want to have to cut your trip short, or compromise on accommodation, or miss out on seeing something you are really keen to see because you have a lack of funds.
Here are some great ways that you can fund your travels and have the time of your life. Which way is going to suit you the best?
Sell Your Stuff
Everyone needs to declutter once in a while, and if you can declutter and then sell your items to make money for your trip, that’s even better. Not only can you clear your home (ideal if you are planning on renting it out), but you will be starting fresh with money in your pocket, reading for your travels to begin.
You can sell anything through many different sources including garage sales, online auction sites such as eBay, and, if the items are antiques or particularly expensive, through live auctions or perhaps privately. How much you sell will depend on how long you plan to be away, and how much you value your material possessions over your experiences that you will gain when you leave home. Everyone is different, so although some might be happy to sell every single thing that they own including important jewellery, others might prefer to only sell items that they can replace once they come back and get into a routine again with a full time job.
Investing in property is a wonderful way to make money if you can do it. There are a number of different avenues to explore when you think about investing in property.
- You can sell a property that you already own, although if you do this, you need to think long and hard about whether you can really do this sensibly. If you live in the property and choose to sell it to fund your travelling, where will you live when you get back? If you haven’t owned the property for very long, you might not make that much money on it when you factor in the expenses involved and paying off the existing mortgage.
- You can rent out a property that you own. This can work extremely well. Not only will you be gaining an income, but your property will be ready and waiting for you when you return to it. The important factor here is to ensure that the money you are bringing in via the rent each month covers your mortgage and gives you something left over as well, otherwise you won’t have anything to live on.
Seasonal Or Temporary Work
Although you might be planning a year long vacation, travelling to as many different places as possible, you might choose to break that up into stages, going away for two or three months at a time, then returning and working at a seasonal or temporary job for another two or three months before taking the money you have earned and heading back off again.
Not only does this allow you to build up your funds, but it also means you can take stock and decide exactly where you want to go next, doing all the research you need to ensure you make the right choice. You can also make sure that you have the right visas, that your passport is up to date, and that you have any vaccinations that might be required before you go. Plus, you can catch up with friends and family who will be excited to hear more about your adventures.
If you want to have the money in your bank account straight away, and you know that you can pay it back when you need to, installment loans can be a great way to finance your travels. How much you can borrow will depend on your own unique situation, but you can easily determine this by exploring online.
Loans will need to be paid back regularly, so you will have to have some form of income or the ability to pay the loan back through your savings until you come home and get a job in order to pay it off. This can be ideal for those choosing to go on a shorter trip, or those who want to break their travelling up as mentioned above but who need a certain amount of money to start their adventures sooner.
You may not have to give up your job just because you want to travel, and it is a good idea to speak to your employer about the options open to you. Some businesses will allow their employees to work remotely, and that doesn’t just mean working from home. If you are prepared to take into account the time differences between wherever it is you are heading and home so that you can definitely hit deadlines and be involved in meetings, for example, you could well be able to stick with your job, receive a full time salary, and go travelling at the same time.
You might not be as ‘free’ as you would be if you quit your job and headed off into the unknown, but you would have a regular income coming in, and for some this can be more important.
Similarly, you could take up (or continue) freelance working, which can be done from anywhere, ensuring that you can still earn money no matter which country you are travelling to and what you are doing. Freelance jobs include (but are certainly not limited to):
- Web design
- Mortgage advisor
As long as you don’t need to have physical meetings with your clients, you can do your work from anywhere with an internet connection, and be paid online or through a bank transfer, making life a lot easier.