Can you go travelling with debt?? I want to go!!

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Can you go travelling with debt?? I want to go!!

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Joined 2009-12-02

Hello! I have been thinking about travelling the world for a long, long time now… about 6 years now!! I would love nothing more than to just go and not come back for a while! The only problem I seem to have, and its a big one, is that I am in around 9k debt…  which is bad news. I know that it is important to clear debt as I’d enjoy the whole experience more and not have to worry about money constantly. But I know I wont go if I dont go soon!

I was hoping to get suggestions, opinions and advice about what different things I can do to get around it quickly! Say in the next 6 months or so… I’m in an okay job and can save adequately. But deep inside I know that I’ll be in the same position in 6 months if I don’t get advice, or just go! For example, can you go with debt and get a job abroad and still pay off the debt, but over a longer time period?

Bottom line is, can you go travelling with debt? Is it a wise choice?!

Thanks in advance!

Joe

     
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Do it.

My student loan sits at 21k and rising. About a year and a half ago i was a further 4K down, but i started saving hard, cleared it and bought my RTW ticket, then saved so i was +3K, forgetting my student debt. 3k into an 8 month trip doesnt go, so i had to get a 5,5k grad loan, for which i have to pay back 6.8K!

So basically, i’ll be close to 30k in debt when i get back, buy hey man - you only live once, you got the rest of your life to pay it back!

traveling’s gotta be done. I’m 27 incidentally, so should be far more responsible by now…....

     
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Depends on what kind of debt it. Something like a student loan would not be a problem. But if you go away and stop paying your bills, you could be classed as an absconder and find yourself in a big mess when you return.

     
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Yes it can be done. I’m still in debt from my stupid teen years when the banks gave credit so easily.
You only live once.
I’ll probably sort myself out when I get home and have got travelling out of my system.

Only thing I’ll say is don’t make your situation worse. My situation cant get worse now so I’ll be in just the same position when I get home

     
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Money comes and goes.

Years when you’re relatively young and can maximise the experience (in my opinion) don’t…..

     
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i was travelling for 14 months and had 6k’s worth of debt on cc’s. Payed them when i was working in oz but just the minimun and it bit me on the ass so i just left it.

6 months later i am heading home tomorrow to face the music so i can let you know of the consequences haha should be fun

anyway id say go travelling if you think you can manage it or save up enough for 12 months minimum payments before you go

     
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There is nothing more stressful than travelling with debt in the back of your mind. Personally I advise people to do what they can to clear their debts, e.g. take on 2 extra jobs, whatever it takes and then save and go. Having debt also means people often cut corners on your travel plans and miss out essentials items that must never be missed before they leave, such as innoculations because they cost money, anti malarials, travel insurance.
Remember you are young and plenty of time to do it and have the experience of a lifetime, not one you may regret in years to come.

Antony
Yomps

     
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thanks to all who have replied on my post! didnt expect such a big response! I guess this must be a common problem.. i have evaluated my situation and although some of you have said to clear the debt, i have decided that i can actually transfer the debt (on one credit card) onto credit cards with 0% interest rate for 18 months.

i decided if i try to clear debt, i wont be going for about 3 years, realistically, and i cant wait that long people! so all i have to do now is save in the travelling fund. which should take just over a year..

going to post another question asking about roughly how much i should be taking if i do australia, thailand, china, vietnam, new zealand, fiji (rough route!) something that is going to take a while to do!

thanks again!!

     
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If you are gonna be a credit card whore, check out moneysavingexpert.com, what they can do for you is set and alert via email or text to let you know when your 0% runs out :D so then you can switch to a different card.

Well i went out with no debt, but coming back is a different story…

     
Avatar for Nevergymless
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I would never leave having debt . I would instead , make a plan to pay it off , and also have a small savings account for traveling. 

 

     
Avatar for Dani26
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Yes I agree with Never as I would pay your debt off before you go away saves the worry and hassle of it whilst your away.

When I have a credit card ill have it paid off in a couple of months so I am now paying a bulk of it each month so which I would have the money for travelling just the quicker it gets paid the quicker I can get saving for travelling.

I did have a bit in my savings took that out paid if off my credit card so brings the interest down and brings the cot down a bit as well.

     
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mate 12 months ago i was in the same situation with just over 10k to pay and planning on travelling from last Septemeber but I made the choice to work my arse off and paid it off in 4 months after asking for a settlement which they agreed to then had to put my travelling back - best decision I made, other things happened which put it back until June but facts remain I rekon it’s a pretty daft idea going with debt - if you can afford to travel you can afford to pay the debt off, unless your happy to be part of the ‘I want it now’ generation - just do whatever you think feels right deep now. But gotta say its an awesome feeling knowing nothing is now keeping me tied to coming back.

good luck chap.

Dave

     
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mate 12 months ago i was in the same situation with just over 10k to pay and planning on travelling from last Septemeber but I made the choice to work my arse off and paid it off in 4 months after asking for a settlement which they agreed to then had to put my travelling back - best decision I made, other things happened which put it back until June but facts remain I rekon it’s a pretty daft idea going with debt - if you can afford to travel you can afford to pay the debt off, unless your happy to be part of the ‘I want it now’ generation - just do whatever you think feels right deep now. But gotta say its an awesome feeling knowing nothing is now keeping me tied to coming back.

good luck chap.

Dave

Awww, I like you. Good on you! Just goes to show how determined people can be and how it’s so much better to be responsible for your finances than trying for instant gratification. You’re the second person to make me smile today! :D

     
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I really really wouldn’t worry about the debt, my boyfriend and I are going travelling for a year next week, s america/oz/nz/asia and he is in 85k worth of debt!!!!!!!!!!!!!!!!!!!!!!!!!!!

The debt is from his commercial pilot training and there are no jobs in that field at the moment due to the recession, he has decided if he waits to go travelling until debt is cleared he will NEVER go!!

However he has got a plan and has managed to save up the money beforehand to pay off the due ammounts per month for a year and then has saved up seperately for travelling.

So you see….... travelling whilst in debt is manageable and if its something you want to do, go for it now instead of waiting.  You have the rest of your life to pay off debts, just make sure you can make the repayments each month and theres no problem!!


izzy x

     
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is that 85,000 or 8.5k????!!!

     
Avatar for Antony-Wilson
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mate 12 months ago i was in the same situation with just over 10k to pay and planning on travelling from last Septemeber but I made the choice to work my arse off and paid it off in 4 months after asking for a settlement which they agreed to then had to put my travelling back - best decision I made, other things happened which put it back until June but facts remain I rekon it’s a pretty daft idea going with debt - if you can afford to travel you can afford to pay the debt off, unless your happy to be part of the ‘I want it now’ generation - just do whatever you think feels right deep now. But gotta say its an awesome feeling knowing nothing is now keeping me tied to coming back.

good luck chap.

Dave

Awww, I like you. Good on you! Just goes to show how determined people can be and how it’s so much better to be responsible for your finances than trying for instant gratification. You’re the second person to make me smile today! :D

I completely agree with you Alexandra and Dave. It really is not worth travelling on debt and debt to get even further into debt! And remember however much you think your gapyear is going to cost, in reality its going to cost 50 - 100% more than you budgeted for! If a gapyear is that important to you then go to one of the new gapyear locations such as Poland to travel which will be a hell of a lot more than Australia which is bloody expensive for anyone working, let alone someone in debt!
Ant