Loan to travel

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Loan to travel

Avatar for Wat_a_joke
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Hi Guys!!

Ok, so i’ve tried saving for travelling but can’t do it (i get paid plenty of money but just dont have the will power to not touch the money i have sat in a saving account! - not good i know)

I already cancelled a RTW i had booked for Nov 08 (because i wasn’t gonna be able to save up enough to go) but now the plan is:

Get a £4K loan and leave enough money to cover my repayments for 6-9 months
Book my ticket (i already have about £1200 just sat in my savings account)
keep trying to save untill November
GO as originally planned.

Now is this a really really bad decision??

Also i was just wondering if anyone else has done this and how it panned out?

Also i’ll be taking a 1 year career break from work so i’m guaranteed a job when i come back (no need to worry about not being able to pay the loan off when/if i come back)

What do you’s think?


xxxxx be honest please*


*i’ll go anyway though! lol :D

     
Avatar for Mat_sexton
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If you’re still at work then can’t you ask them to take a chunk of money off your salary and get them to put it aside. Taht way you only see what’s left and live off that.

     
Avatar for Rubel
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i personally wouldn’t take the loan as i already have a student loan hanging over my head and wouldn’t want to add to it. Also, i like the idea of coming back to england and being able to think about saving for my next adventure without worrying about having to pay off a loan and all the accumulated interst.

I don’t know if i’m alone on this, but when i bought my RWT it was really satifying because i was bought with the money i’d been saving really hard for.

I found that a good way of saving was having a direct debit set up from my current account into a high interest savings account that i can only access by going into the bank. If its still too tempting to get your money out, ive the book to someone to look after (i used to do this with my mum).

I’m guessing your going anyway, so the above is just what i would do and a tip on saving up (presuming your going to do this as well and not entirely rely on a load)

     
Avatar for Wat_a_joke
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i work for a big bank so no they wouldn’t do that (they wouldn’t do anything to make your life easier! lol)

xx

     
Avatar for Rubel
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at least if you work for a big bank, getting a loan might be less hassle than if you, say work in a bar, or tesco or something

     
Avatar for Wat_a_joke
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we must have post at the same time as i didn’t your message Rubel, I will be saving as well, as much as i possibly can and too be honest although i’m getting a £4K loan i wont be planning on spending all of that (£2K of it is to pay the repayments whilst i’m away!)

xxx

     
Avatar for Tallgirl
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Persomally I wouldn’t want to go into debt before I went travelling but hey if you need to get out of this place that badly then do what ever you have to! :D

Only one problem - what’s to stop you spending the 4k BEFORE you go??!!

     
Avatar for Wat_a_joke
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AAHHHHH!!!!!

Guess what?!?!?


Just asked my nana & my dad if i could lend £1K off each of them, my nana says yes and daddy says i’ll have a think about it (which means i can hopefully!!) so wont have to get a loan.

So i’ve got £3200 + any money i can save up before i go (probably about £1200 ish)

YAY!! i will pay them back DEFINATELY, i absolutely hate lending money off people (especially family!) but i think i’m gonna go insane/end up not being able to go unless i do it this year!!!


:D :D

i’m soo freakin happy right now!!!! xxxxx

     
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I think you shouldn’t let something as trivial as £4 grand (which in the bigger scheme of things is nothing) stop you from doing something that you want to do. (not like buying a car, the oppurtunity to go travelling doesn’t come round very often!)

Get the loan and go. Yes it would feel better if you’d saved all the money yourself but lying on a beach somewhere idylic will soon make you feel better :D

     
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Damn it! You posted while i was typing.

Oh well, problem solved. Tell them not to give you the money till just before you go so that you don’t spend it!

     
Avatar for Wat_a_joke
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i know thats what i’ve said, i know exactly what i’m like! i think i’m also gonna give any money that i save in the mean time to one of them to stop me from dipping into that!!

i’m so excited now!! just had a quote for flights, £1480inc taxes: London to Bangkok, Singapore to Darwin, Cairns to Auckland, Auckland to fiji, Fiji to Hawaii, 3 days in LA then home!!! OMG I can’t wait LOL

O yer and he said i can go to Hong Kong too but dont know whether that will be before Bangkok or after?

I dont care!! lol

xxxx

     
Avatar for Broke
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ill chip in a £1.50 to help ya as well :D

     
Avatar for sausages
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Guess you have to do what’s right for you.  The sole reason that I’ve not been away yet is because I am terrible with money and can’t save no matter how hard I try.  However I am really really trying now to pay off all my debts then I will be away as soon as I can.

Hopefully you will be sure that you can pay it off when (if?) you get back.

One thing I have learned is never to borrow money from friends…....... :cry:

     
Avatar for Niknoks
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Maybe i didnt understand this right but you have about 4200 pounds to travel for a year?? Hows that going to work then??

Ive been travelling 5 months and have spent pretty much that!

     
Avatar for tommarvelle
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If you work while you’re in Oz and NZ, then no problems whatsoever. £4k is loadsamoney.

Last time I went to Oz, I left the UK with £600. Got a job in Sydney within a fortnight and I stayed in Oz for 14 months. Weey!

If you’re not working though, I reckon £4k will last you about 4 or 5 months absolute tops on that route.

 

     
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It’s so funny to see this post because I literally decided on getting a loan yesterday.  I am still saving up and will have about 7k but want to have 11k in total.  I will be taking out the loan and leaving enough to make the repayments.  What swayed my decision was simple - This is a once in a life time think, an absolute life expierience…...........Do I really want to get somewhere and be thinking can I afford to do this, or that?  I want to make the most of my expierience!  I say go for the loan, easy to pay of and make the most of it!!! 8)