One of the most popular questions people ask me is, how do I finance my trips? While the thought of not having that paycheck coming in bi-monthly might be more frightening than your grandma’s boobs, there are ways to cut away from your fabric of daily life and make traveling a reality on any budget. Here are few ways on how to make long-term travel plausible, from selling off your stuff to financing your next great adventure with a personal loan.
1. Sell Off Your Stuff
If you just want to go away for a couple of weeks, you’re better off just saving up the money you need to and not radically changing your life, because you’ll be going back to it in just a few days time! But, if you’re ready to set off for a few months until who knows, you most likely will need to make some extra money, quickly.
The best thing is to really sit down and think about what you truly need or care to have upon your return. Most likely, you have more clothes than you can count (we all do). You can bring the nicer pieces to a consignment store if you have the time and let them do the marketing and sales for you, or, sell them on Ebay, you might not think someone might want your old T-shirts from 1995, but trust me, there is a hipster somewhere who would love to have it.
Another option is to sell your furniture or car if you have one. You will save even more money by not having to pay insurance while you’re gone. Old electronics? Believe it or not, if they are only a couple years old, you can get a decent amount of money for them. Still rocking an iMac? Probably not…
2. Get a Personal Loan
If you’re comfortable with taking a loan, it might be the best option for you. You have the time to do a trip, your life drastically changed (no more boyfriend/girlfriend!) and you’re ready for your great adventure, but maybe the finances aren’t there. Educated? Have some professional work experience? Then you’ll be fine when you get back, trust me. You can land some pretty easy personal loans from banks that will let you pay off how much you borrowed as fast as you want, but with about 6% interest annually on the total amount. Another option is to take the loan, then go abroad and start working and pay off the loan once you feel financially secure. You can also choose to pay the small of interest you accrued if you wish. Just be smart and don’t get yourself into debt!
3. Work Abroad
Briefly mentioned above, working abroad is a great option to make long-term travel a reality. It will also give you the chance to try something new that you might not be able to do other wise, like teach English or work at a coffee farm. While months of partying, doing fun activities, etc. is awesome, it gets a bit old after awhile and a little working (structure) is sometimes just what the doctor ordered to refresh and stay in love with traveling.