Guest Post by David Smith
If you want to travel all of the time, whether completely or for regular holidays, then it is important to think about money. You will need to be able to pay for the travel and there are different ways of doing this and it is worth considering them.
Investments
One of the best ways to pay for travel is to have some investments that pay you a regular amount of money. You can therefore use this income to pay for your living expenses and travel. You may need to have a considerable sum of money invested in order to get a decent return though. You may need to have some properties where you gain a rental income or you may need to have a significant sum of money in stocks and shares or another investment that pays out dividends or another regular payment.
Debts
It can be tempting to borrow money to travel. You could easily use credit cards, an overdraft or even personal loans like short loans to finance a life of travel. However, this is extremely unwise because it will mean that the items that you have purchased will all be a lot more expensive because of the cost of the loans. You could end up borrowing more than you can afford to pay back and getting in to a massive spiral of debt.
Earn as You Travel
Some people work while they are travelling in order to make money to pay for it. This can be a good idea, but you have to be prepared to turn your hand to everything. In some countries you will be required to have a work visa in order to do a job. This means that you will need to do some considerable research before you go. You may also need to have copies of your CV and possibly other official documents with you in order to apply for jobs.
Savings
Some people choose to use their savings to pay for their travels. Although this is better than getting in debt, it does mean that you are using up money that you have. This may not be a very wise idea because it means that you will not have any money to fall back on. Of course, many people enjoy and even need to travel and so savings could be the perfect solution or them. Perhaps not using up all of the savings could be the best thing to do though.
