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How to Finance Your World Travel Plan

May 11, 2015 | 5 years ago | Read Time: 2 minutes | By iKnowledge Team

“The World is a book, and those who do not travel read only a page.” – Saint Augustine

He who has not travelled the world does not know the value of men. The world is awash with places which will be a treat to your mind and senses. And with such penetration of internet and social media, the knowledge about most obscure locations is free and easily available. Geographical diversities, sundry cultures, ancient heritages, and of course, the rich history of different civilizations around the world will surely make you wonder if you have been living under the rock all these years.

Sure then, we all feel footloose, and would love to flee the town and go on a hedonistic world travel trip. However, the greatest ‘killjoy’ for such dream-out-loud fantasies is finances! We are constantly looking up articles on the web about ‘shoe-string’ budget trips. With so much that goes on around us every day, setting aside some money for traveling feels a bit prohibitively indulgent. You cannot avail a loan or approach a financing company to fund this indulgent around-the-world trip. May be scrimp and save is helpful then? Yes, if it is done wisely.

Savings are useful only when they grow with time, else they lose value owing to inflation, depreciation of currency, and several other caprices of the finance world. Thus, to make your money grow and promise optimum returns, we have shortlisted a few modes.

1. Invest in Equity

They say, “No Risk Equals No Gains.” Investment in equity markets is risky, but you are able to avail double digit returns over investments within a short period of time. Investing in equity is the fastest way to fund your globe trip. However, if you happen to be a faint-hearted person, then go ahead with a few more safe-keeping options discussed below.

2. Go with Mutual Funds or Return of Investment Plans

Planning to seek extensive gains in a short period of time, but afraid to take the necessary risk? Then opt for safer options such as mutual funds or insurance policies that offer return of investment. These schemes offer assured returns for invested amount within a short period of time.

3. Look for a Part-time Job

Since money is indispensable to finance your travel, you will constantly require it to make your ends meet on-the-go. If you do not have adequate savings or are running out of them, then look for a part-time job. There are several agencies around the world that offer writing jobs for travellers; look up Fiverr.com, for instance.

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