Most people decide to take a gap year after they go to university or even before, but many find it difficult to save up enough money to go. It can be difficult to save money from your first job or even part-time job so here are a few tips to get you on your way to your gap year adventure.
There are several ways to calculate how much you need to earn to be able to go traveling and there are several problems that you will encounter along the way. Several banks will be able to advise you on the best accounts for savings; however some of the best will be building societies. They will probably be the ones with the best interest rates.
So once you have set up a savings account you need to decide how much you need to save. The expenses that you will have will be varied, but the main expenses will be your round the world ticket and the money that you will need when you are there, including all food and accommodation.
If you plan your trip well and decide where you want to visit well in advance then you should have a good idea how much you will spend. You should also have a look at the average cost of accommodation in the area. Sites like Lonely Planet are good for things like this and there will also be reviews on the towns and cities in the region.
You should also account for travel in the country, including buses and trains. You will also be able to find this information on the internet. As well as all these expenses you should factor in food and even exchange rates. Once you have decided how much you will need, you have to have a look at your expenses here. How much can you afford to put away each month? It may be daunting at first but there are probably a few ways that you can curb your expenditure.
If it is possible to live with your parents then that might be a good option, as you will save money on accommodation, bills and council tax. If this is not an option then you could have a look at getting a part time job.