Maybe you’ll be volunteering, learning a language, teaching English or simply seeing the sights on your gap year. Whatever it is you’re dreaming of, you will likely need a decent amount of money behind you. Here are some tips on finding the best deals and saving up for your trip.
Finding the Best Deals
It is a good idea to search for cheap late holidays 2014 to hunt out bargain flights to your destination. Browse price comparison sites and, if you are a student, check the best prices with student travel agents which will offer special deals catered towards gap year planning. By shopping around you can ensure that you don’t miss out on the lowest prices, so don’t simply settle for the first deal you find.
Setting a Target
It’s really useful to have a target amount when saving so that you have something clear to aim for. Factor in travel, accommodation, food, socialising and activities based on the cost of living in your destination country. Also include flights, insurance and any equipment or clothing you need to buy before you go. Once you have this sum add on an extra 10% – it’s always good to have a bit of breathing space and extra money in case of emergency.
Once you have this final amount calculate how much you need to save per week until your departure. This will help you decide how many hours to work every week and what percentage of your wage to save. Whatever job you get, living at home while you save is a great way to ensure that you can put a decent portion of your earnings away.
Devise a strict weekly budget so that you can keep track of your spending. By saving a set amount each week or month you can ensure that you reach your overall target. You could even work two jobs if you have a limited time to save, but be prepared to put your social life on hold for a few months!
By dedicating time to financial planning and being disciplined with your earnings, it’s possible to save a fair amount for a gap year, however much you earn. Have you come up with any innovative solutions for funding your adventure? Share your gap year savings experiences in the comments below.
Image by Nicholas, used under Creative Comms license.