Gap Year: The Budget!
What’s your budget? Your budget will often play the biggest role in deciding what you do during your gap year. It’s important to think about whether you would rather go for less time and have a bit more luxury or go for longer and ‘slum it’ from time to time?!
Travelling around South East Asia and Africa will require a lot less cash than going to destinations such as USA, New Zealand or Australia. Before you go, try to work out the cost of living (food, accommodation, entertainment etc.) in the countries that you will be visiting. Travelling with a non-for-profit organisation like BUNAC means that you will save on programme costs and in the case of volunteering, on average 70% of your fee goes directly to the developing world.
The first step
Establish how much money you will need. If you are going to be volunteering, check what is included in the package – if food and accommodation is not paid for then you will need to budget accordingly. If you are going to be working abroad then you can expect to earn further spending money at your destination (although you should still have savings just in case you don’t bag a job straight away!).
Before you even reach the airport, chances are you will already have paid for the major costs, such as flights, accommodation, backpack, clothing, visas, vaccines, etc. so the remainder of your savings will be your spending money for the next 12 months.
Raising funds
Sell what you no longer need on eBay and cut back on your spending before you leave, especially on luxuries such as entertainment or alcohol. The £30 you spend on a night out here could sustain you for a lot longer in Cambodia or China! If you plan to volunteer and help others during your travels, why not try to reduce your costs by fundraising? Raffles, quizzes or even bake sales can be a fun way to get donations from friends and family.
Be discount savvy!
Check whether you’re eligible for an International Student Identity Card (ISIC) or International Youth Travel Card (IYTC) and get it before you travel. All those discounts add up when you’re touring the globe! As well as these, did you know that BUNAC offers all members a discount with Trek America?
Prepare
Always have an emergency fund such as a credit card or travellers‘ cheques and check whether charges will apply if you use your credit card abroad.
During your travels…
So you’ve done all the hard work and have finally set off on the trip of a lifetime. The biggest challenge now is to stick to your budget, so set a weekly spending limit according to where in the world you are visiting and remember that you have to make your spending money last the whole year so get the most out of it! Avoid handing over your cash to children (or adults) who beg tourists for money as it can make you a target for pickpockets and lead to future aggravation of tourists.
Live like a local
Invest some time in learning how the locals live; where they shop and how they travel. It can save you a lot of money over time and remember – walking is often the best way to get around and is completely free! Avoid the “tourist” restaurants in favour of market stalls and street vendors and learn a few words of the local language.
Don’t be afraid to…
Haggle and barter! And if you’re stuck, some hostels may be willing to offer you a bed for the night in exchange for your skills or cleaning services! And remember, taking photos is always cheaper than buying souvenirs and won’t weigh down your bag!
The End of the Road
Try not to come home completely empty handed as you may need some money to tie yourself over before you find a job back home. If you do arrive home empty handed, think of the life skills you’ll have gained over the course of your travels. Who can put a price on that?!
For more information visit www.bunac.org/smaart
