Money Saving Ways to Travel with Student Loan Debt

by heatfeed

You see it all over your social media, your peers gallivanting around the globe seemingly without a care in the world. If you are feeling curious about how they are making this happen, the good news is there is no one size fits all way to make this happen for yourself too. One of the biggest factors to consider with travel in general is your budget, this can be even more so important as a grad carrying student loan debt. Figuring out how to strike a balance between enjoying your life and managing your responsibilities is not an impossible task. 

Go Against the Grain

There are ways to see the world that are more or less common than others. If you are willing to be open-minded and explore your adventurous side, you might find that there are plenty of ways to experience the world in a way that is also respectful of your wallet. Finding a job with an international company, traveling abroad to teach English, or exploring volunteer opportunities that include relocation are all unique ways to travel that have a different impact on your budget than a traditional vacation would. 

Creating funds from your existing money to travel might sound like a made-up suggestion, but if you rearrange your budget, even slightly, you will likely uncover ways to move your money around to funnel more of it towards traveling. If you have been thinking about consolidating your student debt but are not sure what it entails, there are resources available to you that will break down the process. There is a guide to help you understand your options and figure out the best choice for you when it comes to student loan consolidation and what borrowers need to know. Making the decision to revamp how your student loan debt looks means that you will probably free up funds each month that can either be saved, or put towards extras, like travel. 

Look at your credit cards, and what kinds of points or perks they offer. If you have any that are especially beneficial for earning things like airline miles or hotel points, consider using them as your main spending source so you can build up points/rewards quickly to allocate towards travel. If this is an avenue you pursue though, be sure to understand how your interest rates, credit card limits, or personal discipline habits will affect your bottom line. Points are irrelevant if you have built up debt you cannot responsibly repay in your efforts to earn them. 

Be Flexible 

If your main goal is simply to see different places and gain some new experiences that will lend itself to being able to cash in on some serious discounts. Having no specific destination or time means that you can research your options based off price, and make choices that satisfy your wallet, ahead of satisfying your agenda. Another huge perk of off-season traveling is crowd control. If you decide to visit a city outside of its peak tourist season, then you gain an opportunity to explore the sights with minimal lines and limitations.