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Saving money: When things don't go to plan It's all about your attitude... Rachel Bell writes... 'OK, so I'm no travel guru. Yet. But I do know something about saving money and organising yourself for a gap year. During my gap year, I planned to travel for approximately five months. I wanted to go to Africa, South East Asia, Australia, New Zealand, India and Nepal. Both my parents have travelled a lot, as has my sister, so I wanted to see as much as I could while I had the chance. I was working seven days a week: Monday to Friday at an Adventure Travel company, then at a hotel on Saturday and Sunday. I was really lucky, because my full-time job meant that I had unlimited resources on every country and was constantly surrounded by people who had worldwide knowledge. It was those people who gave me loads of traveling hints and tips, and they psyched me up for my trip. I also got a staff discount on a really cool Karrimor backpack! Being poor all the time is no fun, but it has to be said that you get used to it, and if you've never had a full-time job before, you don't miss money you have never had. This is of great benefit in your gap year, because you hopefully understand how far money can go. Think about it, while you were at school or college it is very unlikely you were working much - most people get by with a few babysitting jobs - and yet you funded all those parties, maybe you paid to drive a car, and you basically managed to have a decent social life. With that in mind, by making a budget of what you need to spend every week and how much you want to earn by a certain date, you are halfway to earning the money you need for whatever you plan to do. And let’s face it, everything costs! If you're going to do any travelling, it’s worth finding out how much an average day costs wherever you may be going. Click here >> to start planning your budget Further research can be done in gapyear.com’s country sections, and with books like Lonely Planet, which give price guidelines on things like an average meal and accommodation (decide how low you'll realistically go for accommodation). Click here >> for countries Click here >> for guidebooks You may not realise it, but living at home is brilliant. You get three meals a day, a comfortable bed, and (unless they are sick of you already) lots of caring attention from the parents. If you plan on earning money in your gap year and are still staying at home, you may have to pay rent, but believe me, what your parents ask is very probably a total bargain for food and board. My advice is to appreciate it while you can - one of my friends paid rent while on her gap year, but the money went into savings which then went towards her University accommodation, which I thought was a really good idea. My point is, never again will you live rent-free or live so cheaply. In time, there will be other commitments that will take your time and money from you, so use it to your advantage. Realise that as soon as you start work the majority of your cash can be saved, and not spent on things you have to pay for (because everyone knows that's no fun). This is where motivation comes in. Your gap year is a unique chance for you to get out there and do something special that you have always wanted to do, because you will inevitably wind up with financial complications and other commitments that will tie you down. Now’s the time to concentrate on that dream - and that means saving your money. There will always be temptations. You just have to be realistic - do you really need those shoes? That jacket? That car even? Earning money will feel good, but you need to keep thinking: would you rather look good on a Friday night, or save the money and spend another few nights in a Thailand beach hut?! If you have to think about that, then you really shouldn't bother, sorry. Even though your exams are your priority, you should, ideally, have done substantial research in to how you want to spend your gap year before it officially starts. And no, it doesn't start in September! A major problem with gap years is that they are very time pressured, and you don't realise just how pressured they are until you're three months into them and still haven't decided what you're going to do. I should know. Try and start saving in summer, because I know so many people - myself included - who have extravagant summers and then September comes and the first few months’ wages have to pay off debts! Ironically for me, my full-time job at the travel company was a major factor in my sudden change of plans. My ticket was booked (Australia, New Zealand, overlanding most of South East Asia, Sri Lanka and then overland again to India and Nepal) but very soon after it arrived in the post, I was told there wasn't enough work for me and made redundant. I still had my weekend job at the hotel, but that wasn’t going to earn me anything close to what I would have earned from my full-time job. The harsh fact was that my budget relied on me working at the travel company for at least another two months, and I simply wouldn't be able to fund work-free travel for the five months I'd be away. This, combined with the realisation that I was going round the world completely alone (my friends backed out of our shared travel plans: some people are all talk!) and way too fast for my liking (because I was greedy and wanted to see as much as I could in the short space of time I had allowed), led me to cancel my ticket and put the refunded money (although I lost out on the insurance refund) into the high-interest account I had opened a few months earlier (every serious saver should have one of these accounts). I made the decision that I would save the money and keep contributing towards it until I could travel with more time, on a trip I was totally happy with, rather than spending it on a substitute which, yes, I'd enjoy, but which wouldn't compare to my original trip. In a way I regret not working abroad the last few months of my gap year, or quickly sorting myself out on a placement, but my long term plan was, I felt, very logical: I know I will travel at some point, and now I have fat savings waiting for me! My final words are these - no gap year is a waste. I wanted to travel, booked my ticket, bought my bag... but it didn't work out, and while I wish I could tell you about some of the exotic places I've been, I have saved a lot of money, am still saving, and it’s all going towards something I really want to do. As time goes on I'm still learning about different places I want to go, so I definitely won't be unprepared. It’s worked out in a way, because being at university I have met my ideal travel buddy and she is as committed as me. My gap year wasn’t wasted: it’s all about having a positive attitude!' |
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