What could be better than a year of travelling?!
Think about all the fun you have when you travel abroad for a long weekend or a summer holiday. Now multiply all the fun you had on those days by 365, and you’ve got an idea of how exciting a gap year can be!
Loads of people are going on gap years, and it’s easy to see why. There are so many new experiences to be had all over the world, it’s a shame to confine yourself to just one country or one area. Gap years can be diverse and thrilling, but there’s one tiny drawback; the costs.
Obviously, going on a gap year means you have to pay for your initial flights to your first destination, followed by any other transport costs, accommodation, food, and general living expenses. It adds up to a lot of money, but here are a few different ways you can raise all the funds you need:
Put on lots of fundraising events
It goes without saying that the majority of funding options need to be done for a few months before you set off. In fact, most people will save up for at least a year before jetting off around the world.
Your first idea combines a series of different ideas into one category. Fundraising events are things you host to try and get money from other people to pay for your gap year. They take on loads of different forms, but the most common one is a bake sale. This sounds like something a child will do, but it’s weirdly effective. If you bake loads of sweet treats and sell them to people, you can genuinely make a fortune. It doesn’t cost a lot of money to do this, so you’ll generate a profit.
You don’t even need to tell people what you’re selling things for, but it definitely helps. If they know that their money is going to a specific cause – your gap year – then they could be more likely to give some money.
Think about borrowing money
If you’re very lucky, you might be able to borrow money from your parents. The keyword is ‘borrow’, you will have to give it back! Not all of us are that fortunate, so you may want to think about going to a company like Buddy Loans and taking out a small loan to fund your gap year. You get the money you need to pay for everything, and you can spread the cost of a loan over a few months to pay it back.
Obviously, this has some pros and cons. The pro is that you can get money almost immediately and set off on your gap year. You can also manage your repayments as they’re usually monthly. It’s also a great alternative for people who don’t have time to run any fundraisers.
The downside is obviously that you owe money to someone. But, this could be the best option for you, so it’s well worth looking in to.
Earn money while you’re away
Finally, you can opt for this idea. Save money for the initial flights, then earn money while you’re abroad. There are loads of gap year jobs available in so many different places throughout the world. This gives you the chance to explore and enjoy new countries while earning a living!
The upside of this idea is that you don’t have to worry about running out of money. If you’re constantly being paid, then you won’t run out of funds. Plus, there’s no reason you can’t do this alongside one of the other two ideas as well.
The only minor downside is that you have to work when you’re supposed to be on a long holiday. However, the counterpoint to this is that gap year jobs are rarely proper jobs. They typically involve you in the local culture and are quite fun to do. It’s not like you’re going to be couped up in an office all day long for five days a week!
To summarise, gap years will always be expensive. Going away for an entire year will lead to plenty of different costs. Therefore, you need to have a plan in place to pay for everything. Some people choose to raise money over a period of weeks/months until they have enough saved up. Others may want to borrow money to leave right away, while some can save a small portion and work during the gap year to keep the funds ticking over. The choice is yours, but either option helps you pay for a terrific year abroad.
The words “gap year” have been a huge topic in my household recently, with my sister at uni, we have been discussing her choices on her considerations to take a year out of studying to do a gap year – obviously, this is not for everyone but it is a good chance to explore a little in between studying!
Please do let me know if you do decide to do a gap year and let me know where you decide to go and whether you have any tips.
Lots of love,
Robynne Louise x