Financing your gap year:

So you’ve got the perfect gap year trip planned, you’ve researched your destination thoroughly and are already checking out sunglasses and swimwear in the shops, but how’re you going to afford it? Pricing up your gap year trip can feel like a pain but it requires lots of forward planning and smart budgeting before you’ll be saying ‘bon voyage’ to Britain.

Book in Advance

Start by booking your trips early! Once you save up about half of your goal, reward yourself by booking a few things for your journey – you’ll also save some money by doing so in advance. Look into what accommodations or activities offer discounts for booking in advance. Also see what programs can help you save money, whether it is through a hostel institute or round-the-world ticket. There are a million and one travel programs that you will come across when planning a trip. Not all will benefit you specifically, but if you find one that fits in with your trip and travel goals, go for it. Sometimes, it may cost you a bit more money than going about it independently, but oftentimes these associations facilitate really remarkable and unique learning opportunities for travellers, so the opportunity cost is less.

Get a Job

Before you go, the most evident way to earn money for your gap year is to get a job. You might be shocked to learn how quickly you can earn enough to have your dream gap year adventure, mainly if you’re living at home and your outgoings are low. Depending on how long you’ve got before you leave for your gap year, you could take one or even two full-time jobs and stash the money away. Thanks to the minimum wage, even with expenses you should be able to save £100 a week from one job.

If your workplace permits, ask to work more hours. Not only will you earn more money, but you’ll also be less likely to spend money if you’re working all the time. If your job can’t possibly give you any more hours, get a second job, freelance or help out in the local area.

Limit Yourself

Cut out all of your vices! Your cigarettes, alcohol, coffee, unnecessary shopping trips all come at a price. Limiting your smoking and drinking is not only good for your health but costs a lot of money.

Exercise for Free
As great as it is that you have a gym membership and you actually use it regularly, you can exercise in ways that won’t cost you a penny. The gym’s elaborate machines and inventive classes offer the same results as running outdoors and doing push-ups and sit-ups. Nike Training Club is just one free mobile app available that recommends entire workouts and even comes with someone to motivate you. Additionally, you can find the same exact training you would in classes, whether it be yoga or Zumba, online.

Earn money whilst you’re away:

If you’re under 30 you can work in Australia, New Zealand and Canada with a working holiday visa and with recent currency exchange rates looking strong – this could be your opportunity to collect massive rewards. If you’re a student, the visa is also available for America.

Also, it won’t be lowly desk or shop floor jobs you’ll be doing, as during a working holiday your office can be the Great Barrier Reef, a ski slope in the Rocky Mountains or a trendy bar in Queenstown to name a few. Work, travel and play are the order or the day on a working holiday and there is the potential to earn some serious cash.

When it comes to your potential earnings, the sky is the limit. If you’re in the sort of career which pays you up to £60,000 a year back at home then you can earn the same, or even more depending on the exchange rate whilst abroad.

Teaching abroad is one of the most enjoyable and satisfying ways to spend your gap year and the best thing is you’ll be earning a wage that will be enough to sustain your travels.

The working hours are sociable; the job is rewarding and pleasing. All you need is a TEFL (Teach English as a Foreign Language) qualification before you leave and you’re ready – you’ll even receive help finding a job and could get accommodation included with your position.

financing gap year

Save as much of your earnings as you can and next part of your gap year is paid for!

Although it may not be legal to earn money in every country you visit on your gap year, you can work for things other than cash. There are so many work exchange options in the travel community. Whether you’re cleaning dorms for a few free nights at a hostel or helping on a farm for a few months of free room and board, work exchanges not only offer you a chance to give your bank account a break, but they also create unique and special travel experiences which you’ll never forget.

Treat Yourself!

It is important to bear in mind that no matter how much you want to go away; you still need a social life when you’re saving for a trip. Reward yourself every now and then with a few drinks with friends or new clothes. Restraint and control are the keys to your durability when you’re saving thousands in as little time as possible. If you ever start to feel down or get tired – just imagine your trip and think about how many more good times you’ll experience using the money you’re saving

Written by Alexa Taylor

Lover of airplanes and the feeling of the sun on my face, I collect postcards and need to pet every dog I see.