When you think of taking a gap year to travel abroad and explore the roads less traveled, the first thing that would probably strike you is - 'How to fund my gap year?' It is not necessary that your gap year has to cost your fortune and you end up being in a debt, but a little planning and effective budgeting can help you gain experience worth sharing.
Here are a few tips and tricks that you can follow in order to manage your money.
Start planning early and make your bookings.
We always keep suggesting that planning early will help you save a lot! If you book your flight tickets beforehand and also choose your gap year program efficiently, you will be in a better position while managing your budget. You'll also have the time in hand to compare wisely and find out the best deals.
Work part-time/ freelance to earn.
This is one of the best ways to quickly earn some money. try to make good use of the skills that you possess and get involved in some kind of part-time work or freelancing. For example, if you think you can teach, you can give private tuition classes during your free time. Or in case you have a hidden talent for writing, you can freelance as a content writer. Some people also work at fast-food centers, local shops etc., to earn a few extra bucks.
Get a separate savings bank account.
For your gap year expenditures, it would be great if you can maintain a separate bank account. There are high chances that if you have the money in hand, you'll eventually end up spending it. To keeping it in a safe account would be ideal. Don't opt for a Debit Card or Cheque Book, that might tempt you to withdraw money. You can also use the money for some lucrative investments, from which you'll get good interests.
Try to get some sponsorships.
In case you are planning to get involved in some sort of meaningful volunteer work, then the best thing would be to apply for sponsorships. There are many good-hearted people, who have the money but not the time or physical assurance to commit to a full-time volunteer project. You can promise to be their flag-bearer and act on their behalf, and they, in turn, can sponsor your gap year volunteering adventure.
Ask for cash as gifts!
We know that you have a loving family and adorable friends who always turn up with a gift on your Birthday or for Christmas. How about asking for some cash this time, instead of a present? You can tell you near and dear ones about your dreams and aspirations to take a break, explore your passion, rediscover yourself and doing something meaningful. They would surely understand that you have the courage to walk on the unusual path and help you fulfill your dreams.
Start a 'Fundraising Campaign' online.
Majority of the students are coming up with innovative ideas to raise fund online. Thanks to organizations like Fund My Travel, Volunteer Forever, Go Fund Me, Fund Razr etc who help aspiring travelers and volunteers to raise fund for their journey. Write a unique note telling people why you wish to take a gap year and how important it is for you, explain your dreams of touching lives in a faraway land, and promise to send back postcards to whoever donates.
If you need more suggestions, you can take a quick look at the blogs mentioned below: