So the map on your wall is dotted with colored pins highlighting all the wonderful places you will go and your imagination is going wild dreaming of all the exciting adventures waiting but there’s one problem: how will you save up enough money to pay for your year abroad? Well we have some handy tips on saving and making money to fund your gap year.
Travel fund
Set up a travel account and aim for the tangible goal of filling it. This account must only receive injections of money and is separate from the rest of your accounts so you don’t just spend your well-saved cash.
Set a budget
Everyone requirementswhen travelling are different’ it will depend on how you like to travel, where you lie to stay (hotels, hostels) and what yourhappy eating, doing, and spending on extras. Try and list all expensesyou can think of and aim save at least this amount, preferably more. You can also extend the budgeting to travel insurance, save money now on your policy and then possibly in the future should the worst happen.
Be thrifty
This is the key to your life now, so start watching the pennies and scrimping a little, it will help immensely. Try shopping for your everyday things like food and clothes in cheaper stores and look out for deals. Take a look at shopping online for some things like electrical Items. Shop around for everything, including comparing travel insurance and flights.
Quit smoking
Bad for your wallet and your health so if you quit the habit not only do you save at least £10 a week (£520 a year) but also you keep yourself healthy, a winning idea all round.
Drop the gym membership
Run around the park or do a workout tape in your living room, it won’t kill you for a year and the money you save will be reward enough (£30 a week, £360 a year). And honestly how much do you use your gym membership?
Hello pack lunches!
As you walk out your front door don’t forget your brown paper bag, this is a quick way to save a lot of cash. You will save about £5 a day which translates to a whopping £1200 a year. The ingredients to make home sandwiches will only cost about £2 a day, amazing!
Make the most of vouchers and freebies
If you do want to treat yourself then do it through vouchers-online, look out for restaurants, nights out, cafes, clothes and beauty products. Once you start searching you will be amazed at how much there is out there at a discount. Also sign up for any freebies; for example many beauty ranges give out free samples in store.
Staying in can be fun
A night in doesn’t have to be boring. Gathering yourfriends around and cooking a fantastic meal with superstore alcohol and plenty of music is all the entertainment you could ask for.
Cut down yourTV package
Do you need every single one of those channels? Probably not. And of you do cut down for a while it will give you more time to research and read up on your travel destinations.
Barter
If you don’t ask you don’t get, and who said bartering is simply restricted to other countries or markets? Obviously don’t go into John Lewis and pull this trick.
Odd jobs, freelance and second jobs
Doing an odd job or freelancing is random work, which will give you that extra cash boost you require. Taking on a second job is a bit more extreme and tiring but can give a juicy injection into your savings.
Yard sale
Sell, sell, sell. Go through your cupboards, attic, and wardrobes and ferret out everything you don’t use on monthly basis. Garage, yard or car boot sales are a great way to get rid of stuff you don’t use and top up your travel account.
Craft fairs
Invest in some cheap materials and, if you are artistically gifted, make a few bits and bobs you can sell at arts and crafts fairs. If you make these well and mark the price up you will find a nice little earner here.
Clothes swap
Understandable not being able to go shopping and buy new clothes can be painful for some, but here is an idea to sooth your shopping craving without spending money. Get together with like-mindedfriends and do aclothes swap, you get new clothes and clear your draws of old ones.