Finance Tips for Young Travellers

Thinking about touring the world or going sightseeing before settling into your 9 to 5 job? It’s usually the students who have the time to travel, however, the means necessary to do so may be an entirely different story. If you find yourself in this boat, why not check out some great finance tips to improve your financial status, allowing you to quench the wanderlust thirst you may have been feeling since high school.

Earn Extra Income

If you are in the process of planning a holiday, it means you have time to do so, but with the wait comes the opportunity to earn extra income, depending on what you are good at. If you can’t earn a little extra cash from a hobby, check out Novibet, the best online roulette site which could offer you massive cash prizes. Alternatively, you can check out other money making opportunities such as Bitcoin gaming, Forex trading, or freelancing.

Saving Cash

Whenever you earn extra income don’t blow it like there’s no tomorrow. Instead, opt to put your money aside into a holiday fund. Even though each year gets more difficult financially in terms of inflation, there are still some great ways in which you can save a little cash. Sacrificing means you are giving up one thing in order to get a better deal, and what’s better than travelling overseas.

Opening a Fixed Deposit Account

If you can’t trust yourself and don’t want to tuck into your holiday fund just yet, you can always consult with your bank to open a fixed deposit account. This sort of account won’t allow you to touch the funds until you handed in an official notice. The notice periods usually come with an option between 3 days, 2 weeks, 1 month and so forth, and ensures that by the time you have accessed your money, you will not have use of the cash and hopefully deposit it back into your holiday fund.

Living Light

Change your lifestyle to accommodate for saving money and live a little lighter or a little less extravagant. This may sound easier than it actually is, but once you become accustomed to living simpler, it becomes the norm and you will be able to save money.

As a travelling student you can rest assured that you’re not the only one who has to look at managing your finances. The majority of students who have travelled before have experienced this. So if they can do it, so can you!