To travel is possibly the first dream of every person on this planet. Travelling helps you cure your ignorance and open your mind to innovative ideas. Though it does cost money and when you’re in debt of your student loan or car loan, it is the last thing that can afford to do. But, remember if you’re believer, then you can surely achieve it.
So, can you really afford to tour around while clearing out your loan debt?Photo by Steven Zwerink
Well, the answer is yes, but you need to keep some money aside for this purpose on a regular basis. And, it doesn’t have to interfere with your other saving goals. Remember saving money for travelling and saving for reserve are two different things.
You have to commence by acknowledging where do you want to go and how much will it cost you. it includes everything right from flight, transportation, accommodation, food and cost of stay. You just need a rough estimate for it.
Once you have got your figure, you need to propose a plan to achieve it. If you have saved enough money, then you’ve been responsible for your repayments of loan, travelling wouldn’t be a big problem for you. However, if you’ve just begun and do not have a lot of money, then relying on your credit card isn’t the best option to finance your tour.
You have to keep a small sum of money aside every month. Do it, till you meet your objective. Once you have saved enough for the flight ticket, the next step is to find out for how long will you stay at your holiday destination. Is it okay if you save for 6 months or 8 months for your vacation?
Now when you know that where you’re going and how much money do you have to spend there and when will you come back, it is time to implement your plan.
Suppose you have a salary of $2000, you keep out money for your loan, rent, food, miscellaneous expenses and regular savings and now you’re left with $150. Well, this $150 will your monthly travel savings. Do this for 6 months and you have $900 in your hands! Wouldn’t it be great!!!!
This simple version will help you get a hint of everything. Even your regular savings could pour in at the time of emergency, in case you have any during travel. So, it makes you safe and sound from everywhere.
Just go and enjoy! You can make the most of your money by residing in a cheap hotel, maybe a dorm or bunk bed. It frees you from heavy money burden.
It is possible for you to travel in debt. Nobody is stopping you from living your life. Just manage things effortlessly and enjoy your life to the fullest. If you have trouble in budgetary planning, then seeking credit card consolidation can be a wise idea. Proper planning can help you in managing your travel along with clearing your debts. You will find no hurdle if you’re planning is well and you have researched well in order to execute your plans.