Are you feeling that itch to drop everything, pack your bags, and buy a one-way ticket to travel the world? Don’t worry. You’re not alone.
A recent study conducted by Deloitte found that at least 43 percent of millennials plan to quit their jobs within two years, and only 28 percent of millennials plan to stay in their current role for more than five years to travel, as reported on CBS News.
If you feel its time to exit the workforce for a while to travel, the good news that if there’s a will, then there’s certainly a way. Here’s how to pull it off:
Establish a timeline
The first thing you have to do when planning a career break to travel is to determine the timeline and when you want the break to begin and end. Doing this will allow you to figure out how much money you’ll need for the entire break.
Start cutting back and save money
If you’re planning to pack up and leave for an extended period of time, it’s time to stack up at that savings account. You can start by cutting some of your expenses from your budget.
Logistics
This is the hardest but most important step in your planning. Think of everything from those monthly app subscriptions, mortgages, student loans, car payments, insurance, etc. If you own a home, decide if you want to rent it out to while you’re away or sell it and if you are renting, then think about whether to sublease or finish the lease out before traveling.
Stay with locals
While you’re planning the logistics of your trip, add staying with locals to the plan. There are tons of online platforms, such as Couchsurfing, that will connect you to hosts who are willing to let you stay in their home for free.
Maximize travel rewards
Being savvy with loyalty programs, including Ebates and credit cards that give cash back as you spend can open many doors to make your travel more affordable, including free checked bags and free accommodations.
