If you are thinking about how to travel the world on a budget, you don’t need to worry.
Even while repaying student loans, traveling the world this holiday is possible.
All it takes is some discipline and planning.
You can take on the world while conquering your student loans as well.
Here are some tips on how to do just that.
(Did You Know? There’s plenty of repayment plans that you could benefit from depending on your situation. This 8-Plan Cheat Sheet breaks each of the best ones down for you, so you can easily select the one that best fits you and your lifestyle. Learn more and download it for free, here.)
How to Travel The World on a Budget this Winter: Tips
1. Make a Detailed Budget Plan
Making a budget helps you put everything in perspective.
Of course, one of the first things you need to consider when making a plan is your student loans.
Allocating the proper amount for your student loans keeps you from worrying about them as you travel.
Make sure to adjust the travel according to the money left after your loans are paid, not the other way around.
2. Travel Within Your Means
As previously mentioned, find ways to travel with the amount of money you have left.
This is not as difficult as it sounds.
Most of the time, traveling becomes expensive because tourist destinations are hyped and overpriced.
When you travel, live like the locals do.
This not only gives you an authentic experience when traveling.
It also makes sure you can keep your finances in check for upcoming loan payments.
3. Research Well
Part of traveling on a budget during the holidays is researching well.
Research in two ways.
First, look for financial tips on how to balance student loan debt and a travel budget.
Next, use the new platforms available today to search for the best deals for your travels.
There are many platforms online that compare various prices of hotels, tourist destinations, and other travel concerns.
(Did You Know? There’s plenty of repayment plans that you could benefit from depending on your situation. This 8-Plan Cheat Sheet breaks each of the best ones down for you, so you can easily select the one that best fits you and your lifestyle. Learn more and download it for free, here.)
4. Book Early
Plane tickets and accommodation are the two most expensive parts of traveling.
As most of you know, the key to saving up on plane tickets is to book early.
Plan your travels as early and as eagerly as you do your student loan repayment.
If you dedicate enough time and energy to organizing those two things in advance, you will not have to worry about having enough money left for loans.
5. Look for Affordable Accommodation
Finally, there are so many ways to find cheap accommodation when you travel.
There is no need to stay at a fancy hotel.
You only need a nice and clean place for sleeping and bathing.
Because you are traveling, you will be out exploring the entire day anyway.
You can save a lot by finding housing outside of major cities, staying in hostels, or even with friends.
Seeking alternative accommodations will save you money for loans and anything else along the way.
Watch this video from CBS News for more insights for handling student loans during the holidays:
Traveling the world on a budget this holiday season is easy if you follow these tips.
You do not have to suffer because of student loan repayment.
If you do your part, you’ll have a blast traveling.
Overwhelming debt won’t fall into your lap upon your return as long as you plan ahead and consider the details.
This is the best gift you can give yourself for the holidays.
(Pro Tip: Need a bird’s eye view of all the options available for student loan repayment? Download the 8-Plan Cheat Sheet. to Student Loan Repayment for free. Click here to learn more and grab your free copy.
Do you have any advice for traveling on a budget this season? Let us know in the comments section below.
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