Who does not want to travel around the world? One of the biggest things holding most of us back is the financial implication of every travel. Even as we think of trekking in some of the mesmerizing Alps tucked in Switzerland or of sinking our feet in the soft sands of some unexplored Caribbean beach, a part of our mind is already processing the costs and rejecting the ideas even before they have taken complete shape.
Does this mean you give up on your plans to travel? Does this mean that traveling across the globe will always remain just a dream?
There are various ways in which you can raise the money required for travel:
1. Plan and Budget
The first and foremost step to any move is to plan it out. Freeze on whether you want to travel to Europe or go to Thailand or visit the mythological land of India. Chart out your expenses. This should include your airfare, costs for visas, your boarding and lodging and any other expenses you foresee. Make sure you are also accounting for some extra money to have to spend once you return from your trip. Once you have planned your trip and you have a fixed budget in mind, move on to the next step.
2. Cut down on expenses
Prioritize your desire to travel above everything else. Start cutting out on avoidable expense like eating out at swanky restaurants, drinking more than two coffees a day etc. You will be amazed at how much money cutting down on small expenses can save. Also look at consolidating any existing debts you may have into one easy to manage and lower interest loan. Try asking Halifax bank for advice on the appropriate amount of the loan and the period for which it should be applied for.
3. Sign up for more people
Travel for a purpose, like a study or a workshop. Make your travel trip an experience everybody will envy. Throw a travel party and invite your friends and their friends to it. Explain your travel as enthusiastically as you can. Ask anybody interested to join you on your trip. Traveling in a group means you share the expenses and in some cases also avail of group discounts.
4. Ask Family
Express your desire to travel to your family. Create a travel account and ask your family to add to this account. Make it clear that instead of gifts on your birthday you would rather that they contributed to this account. State the purpose of your travel to your family. Write out fund raising letters to them explaining what you wish to achieve with your travel.
5. Apply for a travel loan
Quite a few banks have exciting travel loan plans. Look into a getting a bank loan with low interest rates. Depending on your income, your other loans and you capacity to pay back the bank will alter the amount of the loan it extends. This loan can be paid over a period of time such as a year to four years depending on the bank. When applying for a loan, be sure you have accounted for all the expenses you might incur on your trip.