7 Trip Finance Tips to Fund Your Gap Year Abroad
Want to have a gap year abroad after high school, but short on money? Here’s are some trip finance ideas to kick start your adventure.
On average, structured gap years cost between $10,000 and $20,000. Of course, not many high school graduates can afford that kind of money.
If you decide to plan a gap year on your own, it can be a lot more inexpensive. Even traveling on a budget can put a financial strain on an 18-year-old.
However, there are ways you can raise money without breaking the bank.
Read on to learn about these trip finance tips.
Set Real Goals Based on Your Budget
The first thing you need to do when planning a gap year is to be realistic about your budget. If you already have a tight budget, consider traveling to places that have a lower cost of living.
The cost of living in Western European countries is a lot higher than Southeast Asian or South American countries.
Look for Opportunities to Work Abroad
Taking a gap year doesn’t mean you can’t earn money while living abroad. There are plenty of opportunities available to make a little money on the side.
Depending on your skills you can consider teaching English, blogging, working at a hostel, or even becoming an au pair.
Find a Low-Cost Program
If you’re willing to skip fancy hotels or traveling to multiple countries, you can find a low-cost gap year program.
Some countries have gap year programs for students and even offer room and board living with host families. Living with a host family offers them the opportunity to take in the culture.
Some Schools Offer Gap Year Support
Depending on the school you go to, they might offer you the opportunity to take a Gap year. Aside from allowing students to defer their attendance for a year, some schools offer scholarships, research credits, or financial aid support.
Try Crowdfunding Sites
Another easy way to get some cash for your gap year is by trying a crowdfunding site. There are many crowdfunding sites that allow donors to support your cause.
People are willing to donate their money to help students make their gap year possible.
Sell Items You Don’t Need
When you’re in the process of financing your gap year, every cent counts. If your plan is to travel for a year before going away to college, you should consider selling your extra stuff.
There are many things you might be holding on to that could have some value such as CDs, clothes, game consoles, and other things of value.
You might be surprised how many things of value you own.
Ask Your Friends and Family
You could always ask your friends and family to help you raise money for your gap year.
For example, you could ask your parents to help you get a loan for the trip. Getting a personal loan with cosigner will get you a better rate.
Try These Trip Finance Tips
Now that you know about these trip finance tips, it’s time you make your gap year a reality.
Remember to ask your family, sell your stuff, work abroad, and be realistic about your budget.
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