Thursday, September 25, 2008

Again, the Money Factor

Yes, I know. Money. Again. This topic will come up a lot, I'm afraid. 

Money may not buy happiness, but it does fund your travels. 

Most of you are probably wondering how I have enough money to travel so much. First, let me assure you, I'm not rich. Second, I don't travel ALL the time, but I do take vacations quite often. As a side note, my husband and I are seriously considering a one year sabbatical, but we need to do more planning to solidify the idea. That's another topic for another blog...

Moving on...

It definitely is true that you need more money to travel than to stay at home, but not for living expenses. It's simply for creating a peace of mind in the case of any emergencies that may arise. It's always good to bring too much money than not enough. Easy enough.


Okay, not so easy indeed. As most of our parents used to say, money doesn't grow on trees. Money is hard to make - especially if you don't have much to begin with, but I've become more efficient over the years in making it. 

Have Multiple Sources of Income

The more passive or mobile they are, the better. My ideal situation is to have 3-6 months' worth of income saved up before I leave - and make the rest of it while I travel. The longer the trip is, (say, like in my family's sabbatical), the more important this becomes. Also, don't hesitate to cut a trip short if you run uncomfortably low on funds.

On-the-Go Jobs

One general guideline that helps me is if it can be done remotely or doesn't need my active involvement (passive is ok) for long periods - it's perfect. Like I said before, plan your work around your travel and not the other way around.

Which jobs? I'll bounce some ideas off you in later posts. Until then, use your creativity.

Pay Off Your Credit Cards

I'll close on a sort of depressing note for some people. It needs to be said, though. Sorry.

Here goes...

I highly advise against traveling (especially long-term traveling or backpacking adventures) if you are in over your head in credit card or HELOC/second mortgage debt. Pay it off. If you can't, don't travel. Clearing your mind and paying off the debt is better than any vacation. 

Make your own wise judgment before traveling while still in debt. Personally, I wouldn't do it. This isn't a debt management blog, so I'll stop there.

I'll be back soon with a suggestion or two regarding on-the-go jobs. See you then!


"When preparing to travel, lay out all your clothes and all your money. Then take half the clothes and twice the money." -Susan Heller

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