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How to Afford Traveling Abroad in your 20s

By Finserv MARKETS - Dec 25,2019
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how to afford international travel

Your twenties are the years meant for experimenting and experiencing life in its fullest and rawest form. They’re the years when you can take some risks and make bold decisions. For most millennials and people in generation Z, travel is a priority on their bucket list. International travel, in particular, is nearly everyone’s dream. Traveling abroad in your 20s is an excellent goal to pursue.

It can be easy to pack your bags and hop on a flight when you’re younger, primarily because during this phase in life, you’re not tied down by any major commitments. However, the problem of financing your trips abroad can be hard to crack. If you’re in your 20s and if you’re wondering how to afford international travel, here are some tips on getting the funds you need for traveling abroad in your 20s.

Opt for affordable flight tickets

Flight tickets make up a major portion of the costs of international travel. Cutting down on this expense can significantly reduce the overall outlays on your trip. Use budget airlines, fly off-season, and fish for discount coupons. Often, taking an early morning flight can be cheaper. You could also use tools like Skyscanner or Google Flights to track the prices and book your tickets when there’s a dip in the costs. Remember to purchase your flight tickets well in advance, so you have ample time to scout for the best prices.

how to afford international travel

Source: in.musafir.com

Travel on a budget

Budgeting is another great tip for learning about how to afford international travel in your 20s. Find affordable accommodations like homestays or hostels and use the local transit system when you’re abroad. Many cities offer daily or weekly passes for using their trains or buses. Additionally, watch how much you spend on your meals. If you aren’t careful, your food expenses could quickly add up. It’s best to check out local eateries and sample the native cuisine as much as you can. Of course, an occasional splurge is always allowed.

Have a dedicated savings account

If you’re working part-time or full-time, you have the luxury of saving up enough for traveling abroad in your 20s. Make the most of this by opening a savings account dedicated exclusively for your international travel plans. Save up a little each month and remember to not dip into these savings for other expenses, no matter how tempted you may be. Once you have a sizeable corpus, you can plan your trip. This strategy helps you prudently save for your trip before you travel, so you can choose your travel expenses according to your budget.

Pick up a side hustle

If you don’t have a full-time job yet, you have the freedom to pick up a side hustle or two, so you can save up more for your travel fund. Look for freelancing gigs online, or search for other part-time jobs in your neighborhood. Anything that helps you add a little more to your savings is a good idea. The good thing about side hustles is that they’re flexible, so you can take a break when you’ve made enough to fund one trip abroad. And once you’re back from your trip, you can pick up right where you left off and start saving for your next vacation.

Work while you travel

If you’re keen on heading out right away and you don’t want to work your way through a side hustle, you could always opt to work while you travel. Many international organizations accept volunteers for various temporary jobs. You may have to fund the flight tickets on your own, but most paid or unpaid gigs abroad come with free accommodations and occasionally, even free meals. Websites like Worldpackers and Workaway can help you find temporary work in the country you wish to travel to.

Avail a personal loan for travel

Borrowing money to fund your travel is a good idea if you have a steady paycheck to support your EMI payments. With a good credit score, it can be extremely easy to obtain a personal loan from banks and other financial institutions. On Finserv MARKETS, you can apply for a personal loan for travel and borrow funds with zero collateral requirements. Furthermore, you also get to enjoy assured flexibility in repayment since you can pay back the loan in easy EMIs across a period of 12 to 60 months.

There’s also an exclusive Hybrid Flexi Personal Loan, which entitles you to many advantages like interest-only EMIs, unlimited withdrawals, and no repeated form-filling. Apply for a personal loan for travel on Finserv MARKETS, so you can realize your dreams of traveling abroad in your 20s.

Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.

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