in

How to Afford to Quit Your Job and Travel

how to afford to quit your job and travel
YAYImages ID: 28678548 @ Anna_Omelchenko

Quitting your job and traveling the world sounds like a dream come true. I know I’ve always wanted to do it. But it can seem impossible. The dream is always just out of reach. So, if you’ve been wondering how to afford to quit your job and travel, read on. These tips will help you do just that.

how to afford to quit your job and travel

How to Afford to Quit Your Job and Travel

It may seem kind of crazy to some people, but lots of people quit their jobs and throw their stuff into a suitcase, and head out to discover the world.

You can do it as well, but it does take some major planning.

So, first things first…

1. Paying Off Debt

Before you can hop on the next train out of town, you need to take a clear and honest look at your debt.

If you have a lot of it, you need to get it paid off before you go. Check out whether credit card companies can follow you overseas here.

You will need some income from some source coming in after you quit your job, but if you have your debts paid off, then you will need a lot less of it, and that will make your life much easier.

It doesn’t really matter how you do it. 

take surveys and get paid

You can spend less, cut out all the extras in your life right now, or even get a second job. 

If your goal is to quit your job and travel then you will have to make some sacrifices now. That’s just how it is unless you have a huge trust fund waiting for you.

If you want this dream bad enough then you are going to have to work for it. And that means becoming debt-free or as close to that as possible.

YAYImages ID: 1975099 @BDS

2. Saving and Investing

While you’re working on paying off your debt, you also need to think about saving and investing.

Before you head off on your adventure, you want to be sure you have a nest egg. This will tide you over while you are looking for a new source of income and it will also help if you have an issue where you need extra cash.  

If you are living month-to-month or have very little extra cash to save, then once again, you will need to find new ways to bring in more money or to spend less than you are now.

While it can be difficult to save and invest money, it will pay off in the end when you are living your dream life.

It will also give you added security while you are on your travels.

I know this from experience.

I was offered a trip to Korea to visit a friend. At the time I tended to leap before I looked.

My friend paid for my plane ticket and I was staying with her, so I didn’t have to worry about accommodations.

Even so, as you well know, there are plenty of other travel-related expenses.

I was living hand-to-mouth at the time and had about $500 dollars to my name.

Needless to say, I should have never gone on the trip. I was going to be in Korea for a month with no source of income to add to my very meager bank account.

In the end, I had to ask my parents to add some money to my bank account which they were nice enough to do.

So, I made it through the trip, but I was in even worse financial shape, if that was possible, when I got home.

The point is before you decide to quit your full-time job and head out, be sure to have enough money to cover several month’s worth of expenses.

(You can read here about how I got myself into such a terrible financial place and here is how I got out of it.)

YAYImages ID: 12583160 @ iimages

You might also enjoy:

Freelance Writer Rates – All You Need to Know

Leaving the Country with Unpaid Credit Card Bills (Should You?!)

Cheapest Way to Live Alone (6 Surprising Options!)

The Top 17 Things You Can Live Without to Save Money

The Best Way to Consolidate Debt

Can Debt Collectors Follow You to Another Country

2. House Sitting

One of your biggest expenses is your accommodation. Hotels are terribly expensive and spending hundreds of dollars a day just for a place to sleep isn’t going to work if you are planning on traveling long-term.

One way to get around this is to house sit. I have to admit it is something I have always wanted to do – travel the world from house sitting job to house sitting job.

One of the major reasons I haven’t is that I have two dogs, so I can’t be gone for long periods of time.

However, if I could go, this is the way I would do it.

You would be surprised how many longer-term house sitting jobs are out there.

From two weeks to two months, you can find yourself staying in some wonderful places and in some amazing houses.

Very often, you will also be watching the home owner’s dog or cat, but that is a small price to pay.

With a little luck and a lot of planning, you can go from job to job with very few days in between.

One of the best house sitting websites I have found is Housesitters.com.

4. Income Sources

Okay…I know you want to quit your day job, but if you’re planning on long-term travel you will need some sort of income.

The nice thing is it can be on your own terms and how many hours per week you work will be up to you and not some boss.

There are lots of ways to make money, but here are some of the most common and easiest.

take surveys - earn rewards - cash out

Teach English

If you are planning to travel to a country where English isn’t their first language, then there is always a need for English teachers.

You can find foreign language students everywhere from a traditional classroom setting to private students.

My sister did this for a couple of years. She moved to Morocco and taught English for two years. For her, it was a great experience.

She was lucky enough to find a job with a language school before she went, but if you don’t, you can always find a position once you are there.

Different countries have different requirements, so check on those before you go.

Freelance Writing

Freelance writing is a wonderful way to pay for your international travel. You can write from anywhere as long as you have a laptop and an internet connection.

You can learn more about how to get your first client here.

Just because you will be overseas doesn’t mean you can’t have clients in the United States.

Most of the time, you will be working your own hours and communicating by email, so the time difference shouldn’t be an issue.

Start Your Own Travel Blog

Since you are going to be traveling anyway, why not become a travel blogger? Yes, it does take some time to start making money with it, but once you do, it can become a pretty passive income.

That means you won’t have to keep a schedule or worry about meeting your client’s deadlines.

If you really want to be independent of a job and a boss, then this is the best way to go. There is no one to answer to, and you can make a full-time income working part-time. 

Also, it certainly pays more than picking up odd jobs here and there.

YAYImages ID: 10007882 @moodboard

Day Trading

I will tell you right up front that I know nothing about day trading. Well, the only thing I do know is that it comes with a lot of risk of losing all of your money.

I bring it up here because I overheard a conversation that I found quite interesting when I was on a train leaving Chicago about a year ago.

There was a guy, I’d say he was in his late 20s or early 30s that was living the nomadic lifestyle. He didn’t have a permanent base of any kind.

He had just gotten back to the United States a couple of days before the train ride to visit his family.

He had been in Japan and before that Thailand.

That wasn’t the interesting part of the story.

Apparently, he had been traveling the world, non-stop for over a year. He loved the lifestyle and seemed to be happy living out of a backpack.

Anyway, long story short, I know…too late…he mentioned that he was a day trader and that is how he financed his travel and lifestyle.

He was making a profit of about $3,000 per month and had been doing so for over a year.

That meant he could work anywhere with a laptop and an internet connection.

So, if you’re up for a risk, you should check it out.

Side Gigs

Having a side gig or side hustle is a great way to make extra money before you leave on your journey and even after you have started traveling. 

Side gigs can be a form of a steady income and if you pick one that isn’t location dependant, then you are good to go.

Freelancing mentioned above is a great one and it doesn’t have to be freelance writing. It can be graphic design or website design or anything you have a passion for and are good at.

YAYImages ID: 9863708 @moodboard

5. RVing Across Country

If you want to travel but aren’t quite ready to head overseas, then RVing across the county is another option.

What’s great about this is you take your home with you, so you don’t have to worry about paying for a hotel every night.

There are plenty of places where you can park for free overnight as well.

This is a good way to get your feet wet to see if you actually enjoy endless vacation days and not having a regular schedule.

YAYImages ID: 30751266 @ ijeab

6. Getting Rid of Your Stuff

Before you buy that one-way ticket, you will want to consider getting rid of most of your stuff. 

You can’t take it with you, and there is no real reason to store it. So, avoid that expense if you can.

Ask a family member if they can store items that you must keep and sell the rest of them. This is another way to add to your travel fund. 

Chances are, after traveling the world you will come to realize just how little you need to be comfortable, and you won’t want the rest of the stuff that seems so necessary now.

To Sum it All Up:

If you are considering quitting your day job and traveling the world, then you need to start planning and preparing long before you leave. Pay off your debt, add to your savings, and determine how you will support yourself while you are traveling. If you do all of that, you will be in a great position to live your dream life.

how to afford a house when you're poor

How to Afford a House When You’re Poor

how to afford rent when retired

How to Afford Rent When Retired (**5 Great Tips!**)