Do you dream of taking a gap year but are wondering if you can afford it? Figuring out how much you need for a trip, and working out how to pay for it can be difficult especially when there are so many things to consider like flights, accommodation and activities.
But with our helpful guide you can find tips for financing and raising money towards a trip of a lifetime.
Check out our top recommendations below.
Are Gap Years Expensive?
The cost of a gap year can vary a lot! As a general guide it really depends on where you want to, how long you want to be away and what you want to do.
Can you afford a gap year? The answer to this question is, of course, a resounding yes. A luxury gap year could cost you £5,000; alternatively, you could use your gap to earn £12,000 and pick up loads of great work experience. It’s really up to you.
To find out the cost of a gap year we surveyed our users and were surprised to find out how clueless people are about the cost of travel.
How Much Does a Gap Year Cost?
In answer to the question: how much would it cost to buy a 12-month round-the-world ticket? (of which the average price is around £1,500)
• The average estimate turned out to be over £3,300!
• 25% thought it would cost over £4,000
• 12% thought it would cost over £6,000
• A few even guessed it would cost £10,000 and over!
• Unsurprisingly over 80% were unsure if they could afford this ticket!
We asked a couple of gappers, one who was about to go and another who had just come back from a RTW trip, what they thought about this and about how much a gap year cost…
“Before I went to buy a RTW ticket I thought it would be about £3,000: when I found out the real price I was really shocked – I can fit in more countries! After that I was more inclined to go and not so worried about the money situation. I realised that I wouldn’t have to earn so much money, and this meant I could leave much sooner. I think round-the-world tickets are great and I like the way there are no time restrictions. I had no idea about this before I went to the travel agent’s and was worried that I couldn’t fit everything I wanted into my year.
“It doesn’t surprise me that people my age and my mates would think that a RTW ticket costs so much, after all, I did! I found out quite early which was a bonus and it came as a nice shock. If more people knew about the real cost of a RTW ticket and of taking a gap year then definitely more would think about taking one.” Zoe Squire, returned gapper
“I thought it cost a lot more than it did. I didn’t really have a clear idea of cost in my mind and thought it would take up more of my budget than I realised. When I enquired about the cost I was quite surprised! You can get RTW tickets for as little as £600 which made me quite relaxed as I thought it was dead cheap so we could book it at any time. I’m looking for holidays now and a package holiday is about the same price considering what you can actually go and see! The tickets are so affordable and the destinations you can go to, three there and three back – it’s crazy isn’t it?!” Rachel Weaver, returned gapper
Remember if you want to visit expensive destinations like Australia, Canada and the USA then with flights, accommodation and sightseeing you can soon see your money go quickly. In one month in any of these destinations you could probably travel for three months in Asia, Central and South America due to the differences in costs.
How Much Money Do You Need For Gap Years?
You will need enough money to cover transport, accommodation, insurance, visas, food and sightseeing. How much you need really depends on where you go and what you want to do.
There is the option to book everything independently or go with an agency who will arrange everything for you, depending on where you want to go and what you want to do, both options can have advantages and disadvantages.
So, now we’ve established that your dream gap is attainable, one of the first things you need to do is work out a rough budget for your trip so you know how much money you need to raise. This depends on where you are going and how long you plan to be away.
Think about the funds you will need for travel, accommodation, food and fun. And don’t forget to budget for insurance. If you are taking part in a supported placement you will be given a fund-raising target, which may be up to £3,000. Plus you’ll need to add the cost of any travelling after the project is over.
If you plan to work while you are away, you will need to raise the fare to your planned destination and some funds to tide you over until you receive your first pay packet. Or you may be hoping not to work while you’re away in which case you need to raise all the money you need before you go.
Be realistic about the amount you’ll spend on your travels. If you are able to stay with friends or family some of the time that will save money. If you have to fend for yourself, you will probably need at least £20 a day for food, accommodation and travelling costs but that obviously can vary a huge amount depending on where you’re going. It’s also a fact that almost everyone spends more than they expect to while travelling. Raise more than you think you’ll need, just in case.
These tips for backpacking on a budget will give you ideas how to save money.
How Do You Take a Gap Year with No Money?
A gap year can be very cheap or even free, for example, you stay living at home or get a job abroad – this can really eliminate your outgoings. Some companies and charities offer grants and bursaries which are worth checking out, this can help fund a whole trip.
Tips How to Save Money For a Gap Year
Are you wondering how can I get money for a gap year? Here are some recommendations:
Cut Back on Outgoings
This is one of the easiest ways to save money towards a trip. Could you cancel a gym membership? Walk rather than drive or public transport? Not eat out? Cut back on alcohol or going out? All these little things can add up. You could also sell things you own on Ebay like clothing.
Get a Job
You could spend a few months working full time before departing. Or if you are studying you could work part time, this helps to save money towards travel.
Fundraise
Could you try to raise money through fundraising. Possibly you could apply to join a volunteering program abroad and ask people to help towards the cost of this worthwhile experience.
Buy a Round the World Ticket
If you are thinking about travelling to a few different countries during your year abroad, a multi-destination ticket covering your flights might be your best bet. These usually cost several hundred pounds up front and give you a certain mileage or number of stops you can make.
Do your research so that you know roughly how many destinations you want to explore and think about whether a round the world flight with a five-stop or ten-stop ticket would suit your purposes. For example, you could purchase a ticket that gets you from London to India, then on to Vietnam, Thailand, Bali, Australia and New Zealand, the USA and then back to the UK after a few months.
Work Abroad
Working abroad on a gap year is an amazing way to travel without having a huge budget. There are so many different positions available, from summer camp jobs to longer term working holidays. All allow you to live abroad, integrate into the countries/cultures and save money towards travel.
Some jobs even include free transport, meals and accommodation. Popular options which allow you to stay overseas for a long period include spending a gap year in Australia, New Zealand and Canada on a working holiday.
Staying Local Can Be More Affordable
You could spend your gap year in your home country rather than going overseas, this will cut your costs back by a lot. A gap year doesn’t necessarily mean going to a different country, there are lots of options all around where you live.
Choose Destinations Carefully
It is wise to pick destinations based on the cost of living and some countries are a lot more expensive than others. For example, travelling in Europe for 6 months for example, will possible be double the price of going backpacking in Asia when you factor in accommodation and eating out.
A long stay in Australia can quickly eat into your savings, so offset that by spending more time in the relatively inexpensive countries of South-east Asia. Also don’t be put off, some of the cheapest countries are sometimes the best gap year destinations like Thailand, Vietnam, Peru and Costa Rica.
Duration
The shorter the time away, the lesser the costs are likely to be. A gap year doesn’t have to be a full year or longer, you could spend a couple of months enjoying some time out.
Find All-inclusive Experiences
Some popular gap year activities like language courses and volunteering programs usually include accommodation in the initial cost you pay meaning you can spend a long period somewhere without huge outgoings.
Book Early
As a guide the earlier you book things like flights and activities the cheaper costs generally are. You could also wait for special offers for example on flights.
Get Group Discounts
Teaming up with a bunch of mates can be an amazing way to spend a few months. It can also work out cheaper for all of you, as many tourist attractions, accommodation and travel options are willing to reduce prices for larger groups. Explore the verdant rainforests of southeast Asia, trek through the Virunga Mountains of east Africa and put your new-found skills to the test in a desert island survival situation in Belize, all with a grinning friend or five in tow.
Apply for an International Student Card
Have a look online before you travel to see how much cheaper your trip would be with a student discount card. There are many to choose from, and not only will they grant you access to the best attractions and activities with a heftily reduced price, they also double up as ID – meaning you won’t have to take your precious passport on a night out and risk losing it somewhere, which could be a very expensive problem to rectify.
Go With an Agency
Some international travel and gap year companies offer trips and packages which can seem expensive, but they usually include flights, transport, accommodation and some meals. Also when you have the upfront cost in mind, you can work to raise this amount and then try to save a little extra for optional other things like sightseeing.
Hopefully our tips have given you some ideas how to save money and fund a gap year.