A $50,000 dollar challenge. Planning to Travel Around the World.
An Evolving Plan to Travel.
"Never, never, never, never give up" Winston Churchill http://thinkexist.com/quotation/never-never-never-never_give_up/15825.html
Way back when, in my late teens, I had a plan to make a trip round the world before I settled down. In those days I planned to be married only once and have six to ten (some adopted) children. I would be a writer, homemaker, cook and artist.
By twenty one I had saved 1,500 pounds stirling, a tidy sum, and planned a journey that would take me across Europe, to Inda via Afghanistan, on to Australia, Brazil and the USA before returning to London. I planned to supplement my income by writing/washing dishes and any other opportunities that presented themselves.
Persuaded by my then boyfirend (husband number 1) friends and family that my plan was not practical and way too dangerous - I settled for a year in Los Angeles. It was certainly fun and I have no regrets but I didn't give up the dream.
Just over a quarter of a century later I am planning to finally make the trip - although the itinerary is slightly altered. I will be accompanied by my two teen daughters and this time I have budgeted the trip at around $50,000.00.
Creating the Financial Freedom for Travel and other Dreams
Saving and financial planning
I currently do not participate in the stock market, although there are a couple of small stocks that I am keeping an eye on, I am not anticipating a windfall, or an inheritance and although I play the lottery once in a while - that is not a great savings plan. So how am I going to to create $50,00 in just under 2 years?
As with my $10,000 challenge for travel to the UK the money has to come from additional income because there is little or no room for a huge saving plan. However, as I have just proved creating enough money for big plans is "doable" so long as I focus, and keep my eye on the goal.(http://lizam1.hubpages.com/hub/My-10-000-challenge)
Making dreams a financial reality:
- Create a budget sheet for every single penny that you earn and spend
- Itemize and elimate things that you can live without. Circle the monthly savings.
- Put 10% of your entire income into a savings account that is not with your current bank. ING offer a good rate for savers at a higher rate than most high street banks.
- Focus on how much money you will have at the end of the plan and not on how much you do not have at the moment.
- Create, frame and post a vision board that clearly states your goal and dream.
- Allow yourself to be flexible about how the end goal comes about - organic energy.
- Commit to creating secondary income if the 10% savings needs supplementing to make your goal a reality. For every extra or additional hour you work you are one step closer to your dream.
- Examine your motives for the goal or dream - is it what you really want - if it is you will be successful. If is not you will find many ways and reasons to avoid doing it. So why start? Set yourself up for success not failure.
For some ideas on secondary income or how to create savings visit http://lizam1.hubpages.com/hub/Creating-Financial-Security-in-middle-age
Preparations before you travel.
If you are planning to travel for an extended period you will still have to cover the expenses of your home unless you are planning to sell or move and store your belongings. Renting out your home may be a good option. If you are a tennant read your lease and make sure you are allowed to sublet. If you are a home owner hire a good property manager - either a professional company or someone you know who will manage and maintain and repair your property if something goes wrong. In either case a home sitter might be an option - they usually don't pay rent but will pay for water/hydro, gas and cable costs.
Travel documents and visas can sometimes take as much as six months depending on your own nationality and the place/places you are planning to visit. Create a package of notarized copies of dicuments in case anything happens to the originals before or after you leave.
Make a lost of emergency contact numbers in each of the countries and places you will be visiting for family/friends.
If you are travelling with children who will miss school enroll them in an educational program where they can contiue schooling on-line. My children will be enrolled with SIDES (see www.sides.ca)
Talk to your doctor or a local agent regarding immunizations and travel insurance for health matters.
Keep up to date with news and travel advisories regarding destinations you plan to visit.
Travel with minimal cash and ensure that where you are travelling to takes the debit/credit card you choose to use.
Research airlines/shipping routes and fares well in advance. Travelling around the world in one direction will save a lot of money. Consider a specialist travel consultant such as http://www.justfares.com/rtw/around_the_world_travel_guide/?gclid=CLzRwJno57ACFQF6hwodWFAf2Q and DO take out travel insurance.
It's Never too Late to Make the Goal to Travel a Reality
Creating a concrete plan to do anything is of course beset my all sorts of "what if's" and "how can I's". It is part of human nature, that we create all sorts of imagined barriers to success just by our thoughts alone. Those thoughts have come from historical experiences, warnings and well intentioned messaging from others. They do have a purpose - to protect us - and on the other hand they get in the way of accomplishing dreams that end up on the "someday Isle"... .
Imagine if all the inventors in the world had stopped inventing just because the first or second or fiftieth time they tried "it" they failed.
Whether you are fifteeen, thirty, fifty or sevently five, it is never too late to accomplish and complete a dream - we may have to adapt it somehow but it deserves to live - and you deserve to live your dream. Good luck and happy travelling!