Money

Before you go anywhere, it’s a good idea to ask yourself a few questions before you begin to look at the financial aspect of your break.

• Where?
  
• When?
  
• What?
  
• Duration?

This is because the answer to these questions will directly affect your financial situation.

Where – because different things cost different amounts in different regions, it’s important to budget for the area that you are travelling to. The cost for instance in paying for a youth hostel in Slovenia, while Euro-railing, could quite possibly be enough for a whole weeks worth of accommodation in Borneo. So it’s useful to have a decent grasp of the living cost for the location that you’re departing to.

When – it’s a good idea to think about when you’re travelling, as different times of the year will often mean different prices due to high tourist periods and the possibility of high demand caused by national or religious holidays.

What – depending on what you’ll do while your taking a break will also affect for financial situation, so its important to factor in the large costs that may have to be paid for while your away asides for your day to day living expenses, such as learning to scuba dive.

Duration – there is obviously going to be a positive correlation between the length of your break and the amount you’ll need to finance it, so if you think about the 3 W’s above and then play them in the context of the length of your trip you should have a rough estimate of the amount you’ll need for your break.

Once you’ve thought about the different elements which will affect the cost of trip, you can then begin to work out your financial situation.

Be this through letting your house, selling your house and possessions or organizing a fundraising event.

The career break cash flow planner
Download the career break cash flow planner here to help you work out how much is going to be coming in and out and at what times so you never get caught short-changed. This simple exercise will probably be the most important thing you do in-terms of planning your career break.

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