How To Save For Your Gap Year & Travelling

Find out how to save for your dream gap year without burning a hole in your pocket.

Gap years are exciting but also quite costly. Budgeting for one starts the moment you decide you want to take a gap year, and we’re going to show you the best way to save.

Gap years can range from a few weeks to a few years, despite the name. However, it can get expensive and that’s why it’s important to plan ahead and save as much as possible beforehand. Easier said than done, of course, but our practical tips will help you out. Here’s how to save your gap year and travel abroad, but first, what’s this gap year business about!?

Why take a gap year?

Gap years are highly rewarding when it comes to your self-development. They give you a break from work/study and help you realise what you want to do in life. Even if you don’t, you can look back at fond memories of your time away from your home country.

Convinced? Here’s how to save for your gap year.

Find out what you want out of your gap year

It’s one thing wanting to do a gap year, but you need to figure out your “whyâ€. What makes you want to do one? What do you want to get out of it and why will it benefit you? Here are some reasons why people take gap years:

• To learn more about themselves
• To build their skills in a totally different environment
• To have a break from work and study before going to university or entering the job market
• To learn a new language and simply experience a new culture.

Get a job

Getting a job is going to help you immensely here. Whether it’s part-time or full-time, you can save up cash and use it to book your tickets and stays for the gap year you’re taking.

Consider a second job if your current one isn’t giving out any extra hours. You could freelance, babysit, work a temp job…or even check out various online jobs for students (you don’t necessarily need to be a student to do those either!).

Just remember that the more you do the more you’ll earn for your gap year. Obviously, try not to burn yourself out, but assess where you have some spare time and use it to your advantage.

Raise money

Have you ever considered selling that old phone in your drawer or items you no longer use? Working jobs, in addition to flogging things you already own, are great ways to raise money for your gap year.

Raid your belongings and see what you could do without. Less stuff also means less to carry abroad too!

Live at home (if you can)

Living at home while you raise money for your gap year will really work in your favour. You’ll most likely pay little to no rent (you could even offer to do all of the house chores instead). No rent to pay means more in your pocket.

Be a hermit for a while

Saving for a gap year isn’t going to be easy. You may need to say no to some social events to save cash. Pick up some hobbies you can do at home that are low-cost to keep yourself occupied, or if you’re missing quality time, go for walks with friends instead of nights out.

Cut out other luxuries and vices

You’re gonna have to cut back on cigs, iced lattes and other tiny vices you reach for. Yes, they provide comfort, but in the long haul these add up and you’ll be kicking yourself when you see how much they could contribute to your gap year.

Next time you indulge in anything, try taking note of how much that cost you. You may think twice about doing it again.

Save money on food shopping

Our essential food shopping list is all you need to cook healthy meals on a budget. Food is an area we’ve all overspent on, so why not use the opportunity to look at your average spending and cut back where needed?

Where will you be taking your gap year? We hope our money-saving tips for a gap year have helped you out!