I always say that traveling doesn’t need to be expensive. However, you need money to travel. How much you need is always different and depends on the way of traveling. You can survive with less than $1000 in some countries like in South America or South East Asia. It’s going to be difficult to travel with this budget in Europe but not impossible.
These are just a few ways how to fund a trip abroad:
Cut your monthly costs
Set yourself a target you want to safe and cut not necessary costs. Cut the rent and move into a shared apartment, stop drinking and smoking, stop partying, stop going out for dinner, change to prepaid phones and cancel your phone plans. These normally are the biggest expenses you have. You will see that you will quickly safe a lot of money.
Sell you belongings
You don’t need this big flat screen TV, you don’t need this fancy car and you also don’t need all those playstation games. Sell your belongings that otherwise will only use a lot of space in your parents basement and use the money to fund your trip. When you come back you probably won’t need most of the stuff anyways.
Another option to get a trip funded is using a personal loan. There are many providers out there. Do your research about the details of the loan and how much interest you are paying. Some companies have special loans for young people where you pay low interest or you start paying it off much later. If you take a loan look for one with a fixed interest rate that doesn’t change over the years!
Start a second job
Depending on how bad you want to travel, start a second job and save all the money from the second job. This way you will reach your financial goal much faster than by just cutting down your costs. If you cut your costs and get a second job you can even safe more money than you thought.
Interest Free Credit Cards
If you have to use credit cards look for one that is interest free. That way you can save a lot of money. Some credit cards let you withdraw money around the world for free. This is also an additional bonus. Just remember that you pay off your credit card in order to avoid to pay interest.