You can live the life of your dreams with clever planning methods. Most people think about going on sabbatical to explore the other side of their fantasies in life; but quite very wrongly, the majority of people think they do not have the financial power to foot the bills; how very wrong they were! You can do it with some element of prudence and financial planning on your side.
This is the basis of this article, and at the end, you will realize that you can achieve that dream of yours of going on a sabbatical without looking outside financial assistance. Here are 8 Tips that you can follow to achieve your aims.
Get your finances ultra-organized:
The first step in the right direction is to get organized. There are some unnecessary expenditures that you have to cut off if you really want to get some extras for the trip of your dreams. Some people adopted the option of creating their own website. You can create a budgeting spreadsheet using Google Docs, and separate savings account through which money can be set aside for the sake of sabbatical.
Rent your home to offset costs:
You have that goldmine which you can dig into to get the cash that you needed to finance your journey in your home if you have one. What is the strategy here, simply rent it out to people who are in need of it! With your well-furnished apartment, you will make more money from the deal. This is one clever way to finance your sabbatical with what you have and still maintain the ownership rights of your building!
Expect the unexpected:
Accidents happen unannounced. Accidents happen when you least expected it. Therefore, in your travel plans, put all the factors that you do not expect into consideration before you go out of your comfort zone if you truly want to enjoy your sabbatical. Make room for these unexpected expenses that may come in any form so that when it happens, you have the cash handy to address this situation. If nothing unexpected happens, you will have nothing to lose because your money will remain intact with you.
Pay off any lingering debt:
If you want to have the best of times on your sabbatical, then make sure you pay all the lingering debts before you proceed on such a trip and become debt relief. If you are a fresh graduate for instance and you are still paying your student loans; you will struggle while on your sabbatical by forfeiting some of the luxuries that you are entitled to while keeping your eyes on your debt portfolio.
If you want to enjoy the benefits in full, then you have to offset any manner of debt that you have hanging on your neck before you board the flight.
Teach English or music over Skype:
Everybody has talents. You are born with a particular skill which you can monetize to finance your sabbatical. If you are fluent in English or you are able to play an instrument, then you have gotten something that you can fall on to make extra cash. All you need is a computer and an internet connection and Skype. Then you can advertise your skills on a simple two-page website to start with. This will take you to the consulting business that you can run online for people and they will, in turn, pay you handsomely in exchange for your skills.
Volunteer abroad/ trade for lodging and food:
You can go creative while you are on your sabbatical. You can mix work and play together in a way that will favor you. All over the world, you can do some work in exchange for what you do not have the cash to pay for. It can be work for accommodation; it might as well be work for food. You will definitely gain an exciting new outlook on life while you are enjoying your sabbatical.
Trail Wallet app:
This is an app that can be of use if you really want to maintain prudence in your spending. It will help you track your finances and budget accordingly. It comes with a beautiful user interface that helps holders to synchronize their accounts easily. You can add in the data manually or do a combination of the two together. You will see where your money is going, and there is an opportunity to set up reminders if you easily forget.
Acorns app:
Our last consideration is the Acorns app, and it is also a very potent tool that you can use to go on the sabbatical of your dreams without much ado about nothing. Those that are familiar with or have used the piggy bank will have no issues with this concept. This is simply a micro-investing app. It encourages you to convert your spares in returns.
What you are expected to do is to simply link your bank, credit and debit card details to Acorns. This app will then round up all your purchases and go on to take the small extra change and invest in it. For doing this, it will cost you $1 every month. However, college students can enjoy the benefits of this app for free.
Conclusion:
Going over the 8 creative strategies that we have so far listed above, it could be clearly seen that you have what it will take you to finance your sabbatical right within your reach. It is only a matter of prudence and working by the rules. With it, you will surely have an experience that you will forever live to cherish when you go on your sabbatical