I finally got to do something that I always want to do. I’ve been writing about traveling the world ever since I started Studenomics. I’ve also supported the idea of experiences over stuff. I recently had a pretty cool experience.

What was this cool experience that I just went through? I attended my first Wrestlemania ever. I had been a fan of pro wrestling ever since I was a kid. I’ve been to many shows with my youngest brother. I just never went to Wrestlemania. I’ve always wanted to attend one because of the overall experience. I just never made it because the show has been in random cities in late-March and I usually have other plans around this time of the year (either exams or Spring Break while in school).

I had an absolute blast at Wrestlemania. The show was in Miami and we stayed right by South Beach. We got to experience the night life, check out a few wrestling shows, and hangout with other buddies that usually attend the show. The best part is that I wasn’t even planning on going on this trip until my girlfriend surprised me on my birthday with tickets to Wrestlemania (no my gift was not as good).

Why are you waiting to leave home? What’s stopping you from going on that dream trip?

What’s holding you back from leaving home? Let me take a few wild guesses.

• Massive fixed monthly expenses.
• Credit card debt.
• Student loans.
• Your car (car payments, insurance, gas, maintenance, and anything else).
• An unrealistic lifestyle.
• Going out too often.
• Buying random crap.

I want to travel the world, but can’t just afford it yet. What can you do to break out of your current situation and be able to live life on your own terms?

You have to earn your freedom.

You don’t deserve anything. You have to earn everything. What are you going to earn your freedom? You can start off by hustling to pull off any of the following goals:

• Work on paying off your credit card debt.
• Start your own online business.
• Find a part-time job.
• Create sub-accounts for different goals with ING Direct.
• Sacrifice today for tomorrow.

Each of these will bring you closer to earning your freedom.

You need to actually prioritize.

My favorite theory on this topic is that you can have anything that you want, but not everything that you want. It’s easy for you to say that you want to travel more or that you would like to experience more. It’s difficult to actually do this. It’s difficult to cut the excess from your life. It’s difficult to prioritize. This is why you need to actually prioritize when you want to hit a goal or else you’re going to keep on doing the same thing over and over.

It’s all about making the right moves.

Once you start to make the right moves, you can push yourself ahead of your friends and everyone else that’s too busy making excuses. The problem lies in actually getting started. Once you start to build momentum in the right direction, you’ll be unstoppable.

You can make the right move right now by grabbing a copy of my eBook that shows you how to build credit and live debt free forever.

Do you want to learn more about traveling? I recommend my other pieces on travel to get started:

How to not Suck at Travel Planning & Traveling After Your College Graduation.

As always if you have any questions, please don’t hesitate to leave a comment.

“The use of traveling is to regulate imagination by reality, and instead of thinking how things may be, to see them as they really are.” — Samuel Johnson

I’ve been on all sorts of trips the past five years. I’ve done road trips, beach vacations (many of them), and backpacking alone through Europe. I’ve come to a simple conclusion over the past half of a decade.

There’s nothing like travelling the world in your 20s.

I just got back from Puerto Plata, Dominican Republic and I loved it. It’s impossible to not have a great time when you’re avoiding the Canadian winter in a tropical paradise where you can eat and drink all that you want. A tropical vacation isn’t as exciting as showing up in a foreign country and trying to figure everything out on your own. However, it’s all a good time to me. I’ll take any opportunity to get out of town.

“A journey is best measured in friends, rather than miles.” – Tim Cahill.

I wanted to share some general travels tips that I’ve picked up from reading various books, blog posts, and through the experience of going on dozens of trips. This brief overview will show you how to travel without being a complete tool.

Bring half of the stuff and more money.

I’ve seen friends over pack to the max on trips before. Most of us can be guilty at some point of bringing too much on a trip. I’ll never forget this one family that I met at the airport in Punta Cana. The husband was scolding his wife because they had to pay extra since she brought an additional piece of luggage. Her justification was that she didn’t know when she would need a certain piece of clothing.

“I can’t emphasize enough how important it is to travel light. Dragging an enormous pack full of junk from place to place is the surest way to hamstring your flexibility and turn your travels into a ridiculous, grunting charade.” — Rolf Potts

My best tip is to bring less stuff and more money just in case. If you really need something (chances are you won’t), you can always pick it up. This isn’t the 1950s. You can find anything that you need away from home.

Watch where you convert your money.

Believe it or not, you can lose a ton of money on exchange rates. The value of currency that you see on the news is never going to be what you actually get. I’ve learned this the hard way with the Canadian dollar. The dollar here has risen past the U.S dollar and still many foreign countries don’t even acknowledge this. I ended up losing money many times by having to convert Canadian to American and then to the local currency.

Every time you convert money someone takes a chunk of it and you don’t get the real rate. I would recommend doing your research on exchange rates ahead of time so that you don’t get screw over on the currency conversion.

You can negotiate everything.

In North America we don’t barter because most prices are final. You can’t just walk into Walmart and start negotiating the price of a pair of shoes. When you travel you’ll quickly find that you can negotiate everything. Most prices aren’t final. You can ask for a discount or simply barter.

You have nothing to lose from bartering. If you never ask, the answer is always no. This is also why it helps to sometimes carry around cash instead of your credit card.

Money talks.

To tie into the previous point of negotiating, money really talks in most third world countries. In my experiences a tip or a bribe can go a far way. Now before you get appalled, you must understand that bribes are customary in many countries. You try giving a cop a handout in North America and you’ll regret it for the rest of your life. In other parts of the world, it’s perfectly normal.

A simple tip can go a long way when checking into a hotel in most foreign places. For example, in Puerto Plata, we tipped the front desk clerk a few bucks and we got upgraded to a junior suite. In North America, a tip is either expected or barely appreciated. In other parts of the world money talks and can take you a long way.

Those are some basic travel tips that will help you not look like a complete tool when you leave home and travel a bit. If you’re still interested in more, you can read on about traveling the world after college.

I often stress that traveling is worth it in your 20s. I’m known for promoting the idea of traveling by yourself or with friends to a random destination in the world just to explore and have a good time. I truly believe in traveling the world in your 20s.

There’s the obvious reaction to my views on travelling : how can I afford to travel when I have no money in my 20s?

That’s a very fair point. I agree. Chances are that you have student debt to pay off and some lingering credit card debt. There’s also a strong possibility that you’re not making as much money as you would like to just yet. You also have expenses that add up every month. At the end of the day, you just don’t feel that you have the money to travel.

I’m about to give you personal finance advice that you won’t find anywhere else and totally goes against my philosophy on paying off debt…

You can borrow money to travel.

An example of borrowing money to travel.

I never thought of the idea of borrowing money to travel until an older friend suggested it to me. This friend told me how he worked during school and did an internship so that he didn’t need to borrow any money to fund his education. Therefore, he was able to graduate from college debt free. Before he found a job in his field and settled down, he knew that he wanted to travel through Europe on the classic Euro-trip. Instead of waiting to get a job and save up the money for the trip, he tried something different. He took out a loan to pay for his travels.

His logic was that if he found a job first, he either wouldn’t get the vacation time or he would get too comfortable to leave for a few months to vagabond through Europe. He took out a loan of $5,000 and hit the road. He knew that he would have to look for jobs in advance so that he had a job waiting for him so that he could pay off his travels.

Should you borrow money to travel? It’s worth it. This goes against my standard advice on earning your freedom. I will defend myself below…

What’s the point of borrowing money to travel? Why get into debt to leave home?

Traveling is a once in a lifetime opportunity.

When else will you have this much freedom in your life? Never again to be brutally honest. In your 20s you have more freedom than you ever will. This is the one time where you can be completely careless and venture off somewhere on your own. You can discover what you’re truly made of and what this world as to offer. This definitely beats the traditional path after college.

Borrowing money to travel is a reality check.

When you need to borrow money just to leave home this should be a cold reality check that you need to make major improvements when you get back from your trip. This should open your eyes. I don’t want you to feel sorry for yourself. I want you to do something about your current situation.

When you get back you’re going to have decide on a strategy for making more money and another strategy for how you plan on paying back your newly found debt.

Is it always worth it to borrow money to travel?

Nope. If you’re going to be screwed over for the next ten years then nope. Don’t bother. If it’s a little bit of debt that’s going to force you to work hard it’s not so bad. I just don’t want you to ruin your whole financial situation.

I really do hope that you decide to earn your freedom for your next trip. If you don’t, you can always consider taking out a loan to travel and open your eyes to see what this world has to offer.

“The world is a book, and those who do not travel only read a page.” — Saint Augustine.

Have you ever thought about backpacking through Europe?

After reading the 4-Hour Workweek, Vagabonding, and The Art of Non-Conformity I figured that I had done more than enough research to be ready to hit the open road. So I did it. I stopped making excuses and planned my first ever real Vagabonding experience. I bought a ticket to Warsaw, Poland for early-September, got rid of most of my crap, and rented my condo out. It was finally time to hit up Europe with only a backpack.

Can I summarize this whole post in one sentence? Can you plan a mega trip to Europe with just one piece of advice? Yes you can. Here it goes… Just f*cking do it. Just show up and go with the flow.

If you want to get a little more technical let’s get into it.

[Quick note: If you have credit card debt you're going to have to earn your freedom. Don't you worry just yet. I got something coming out for you in the next few weeks.]

For the sake of this post I’m going to assume that you want to have a damn good time. Anyone that met me at the Financial Blogger Conference this past weekend knows that I like to have fun.

How you can have a blast backpacking through Europe…

Stay in hostels.

Staying in hostels is a no-brainer when backpacking through Europe. This is by far the best way to save money on accommodations. I suggest that you check in advance before you book into a specific hostel so that you know it’s right for you. If you feel like partying then you stay in a party hostel. If you want to relax then find a hostel that’s known for being calm. The reviews will tell you all you need to know.

You can use CouchSurfing to stay for free with someone, but I enjoy the instant social life that comes with a hostel. I also love the fact that you can cook your own food in hostels and meet a variety of characters.

Book night trains.

I found that a nice little way to save money was to take night trains. This meant that I didn’t have to waste a beautiful day in a train and I didn’t have to pay for an extra night at a hostel. Night trains are also a good opportunity to take a night off from going out to just chill out. We all need to relax once in a while.

Hit up close destinations.

This sounds obvious but I see many travelers making this mistake. I hate being on a bus or train for a long time and I especially hate moving around often. What I did was I went to popular destinations that were close by while moving towards my final destination. I wanted to spend a few nights in Budapest, Hungary. To do so I moved there slowly. I don’t care for sightseeing or to move around too quickly. I instead chose to go to places that were close by and brought me closer to my final destination.

Prepare your own meals.

Maybe it’s just me but I love to have my own food. I enjoy dinners and drinks with new friends/previous strangers. I also enjoy having my own food ready. Being a follower of the slow-carb diet I found it easy to always find chicken, broccoli, and beans. I figure that these are three items of food that can’t really be messed up. I mean how do you mess up a can of beans? Just make sure you don’t eat a can of beans if you have hot chicks in your room.

Be realistic with the duration of your trip.

I kept the duration of my trip under one month because I knew that I couldn’t be away from home for much longer. I also know that I would get bored of moving around so much. I found this to be the perfect duration for me. Everyone is different and it all depends on how homesick you get. I met so many travelers that were planning on being away for over 6 months. I don’t know how they do it for that long.

Those are my best tips for having a blast in Europe without going poor or maxing out your credit card.

If you’ve been meaning to hit up Europe for a long time, what are you waiting for?

“When preparing to travel, lay out all your clothes and all your money. Then take half the clothes and twice the money.” –Susan Heller.

(photo credit: everyday.artichoke)

I’ve been reading a lot of unconventional content lately about traveling the world. I’ve been on many trips over the past 5 years. The thing is that I usually go to an all-inclusive resort where it’s a giant party for a week or I visit family in Europe. I’ve never stepped out of my comfort zone to actually experience a different culture or go to a place where I don’t know anyone. 2011 is the year this changes.

I’ve come to understand that there are three main ways to plan your world travels:

1. Plan everything out.

This is a pretty common approach to traveling.You consult maps, travel websites, travel agents, forums, and you construct the ultimate trip. You plan out all of the places you’ll visit during the trip. You figure out exactly where you’ll stay and eat. All of the details of your trip are figured out before you even step on the plane and leave the country. Your itinerary for the trip is set.

I actually tried this for one of my first trips. I went on forums and inquired about every little detail. Sure, I got my answers, but what’s the point? When I got down there I just ended up getting better information from the locals. Planning every detail of your trip can be beneficial when you go with your family. It’s not as necessary when you’re a 20-something roaming around.

2. Try mini-trips and experiment.

Tim Ferriss introduced the world to mini-retirements and the concept of getting away for months/years at a time. This seems like ideal approach for anyone that wants to consider moving somewhere but isn’t sold on the area yet. By taking a mini-retirement at some remote location in the world, you can truly experience the culture and see if it’s where you want to live.

I personally don’t know anyone that has taken a mini-retirement. I do know of a few people that traveled to Thailand to learn the art of Muay Thai over a span of 2 months. This is likely where I would see myself. I don’t want to take a trip where I relax for an extended period of time. I would like to learn something new or perhaps work. I can’t just be idle. Learning something new is always cool. Working in a different country would definitely allow you to experience the culture of the locals.

3. Go all in with your travels.

This is rare but it sounds like fun. Just book a ticket and go with the flow. This is something that you see in the movies. You’ll probably be deemed “irresponsible” by your family. You could also run into trouble.  You could be stranded. You won’t know the language so you won’t be able to get around. You’ll have to scramble to find a place to eat and sleep.

Then you can look at the other side– who cares? As a recent college graduate this can be one of the funnest and most un-structured things that you do in your life. Just be ready for lots of adventure.

I’ve already done #1, #2 is coming this year in some shape, and hopefully one day I can pull a #3.

Have you traveled to any cool places? How do you plan your travels?

Check out my 2,000 word post on Vagabonding and what you need to know about traveling the world.

(photo credit: faunng)

This post is brought to you by OPPapers.com, your go-to website for all your paper writing needs.

If you are going on vacation or studying abroad, most students always wonder- should I bring cash, traveler checks, and credit cards or just withdraw from the ATM? How much should I bring and where should I exchange cash or travelers checks?

Daily Expenses

I recommend bringing around $100 American dollars in cash for emergencies and then withdrawing from the ATM for the rest of your stay.  Using the ATM usually guarantees a good exchange rate. Be aware that your bank will most likely charge a fee for withdrawing internationally. Also, it is always a good idea to inform your bank ahead of time that you are traveling  abroad so they don’t freeze your account for suspicion of fraudulent activity. If you need to withdraw a large amount to pay for an apartment or other large expense abroad, ask your bank to raise your withdrawal limit or you might be able to withdraw a larger amount through multiple transactions but you will pay the fee for each one.

Credit Cards and Travelers Checks

Use your debit card for ATM withdrawals but credit cards everywhere else. If an error occurs in a transaction, it is always easier to resolve it with a credit card than a debit card. Most major credit cards are accepted at restaurants, stores and hotels, but smaller establishments may only accept cash. Traveler checks have become less convenient nowadays because searching for a good rate and location that accepts traveler’s checks can be a hassle.

Cash

The small amount of cash you do bring should be free of rips or marks. Other countries are very wary of counterfeit money and only accept crisp, non-marked up bills. This is also true for foreign currency that you receive out of the ATM and in change. Always make sure the bills are in good condition and I find it helpful to keep smaller bills on hand.

Tipping

Tipping varies country by country. Generally, you don’t tip as generously as you do in the U.S, but you should leave what you think is appropriate for the service. Be aware that most places will catch on that you are American and almost expect the tip that goes along with it.

Exchange Rates

When abroad, I usually reference http://www.xe.com for reliable exchange rates in the specific country I am visiting. Always research your specific destination to find out the convenience of using certain types of payments because countries in Europe can differ greatly from countries in Asia or South America.

Almost every twenty-something complains about how they would like to travel more. Guess what? You can travel more. I will spare you any motivational tips. I want to outline some tactical tips to help you travel more:

Plan ahead.

The first step always involves asking around to see who out of your group of friends is interested in traveling (always ask girlfriend first).

The second step involves figuring out who will actually have the money to travel. Everyone would love to travel but the reality is that most 20 somethings simply can’t save up for vacations.

The next step is picking out a destination that everyone can agree on. This is usually the biggest pain in the butt about booking a vacation with your friends. The best way to get through this stage is to have everyone answer a fundamental question.

What are you looking to do? If you want to get wasted all week and go clubbing, consider Cancun, Mexico. If you want to lay on the beach and have someone serve you drinks as a lady friend applies more lotion on you, then anywhere down south will work. If you want to visit churches and historic landmarks then go to Europe and make sure you don’t invite me.

It’s very simple. Once the group collectively figures out what they want to do it’ll be much easier to pick out a destination. If different people have different travel ideas then maybe you shouldn’t be traveling together. Travel with people that have similar goals. You don’t want to go scuba diving alone while everyone is on the beach playing beer pong.

The final step involves collecting money from everyone. If you don’t mind doing the leg work then you can collect money from everyone and take care of the payment. (Hint: If you want to build your credit rating, it helps when you make large payments and pay it off immediately. Just make sure you have the cash first.)

Sacrifice a little.

Don’t ruin your life by going straight from work to sleep, but do make a few minor changes. I’m willing to go out less often in the city to bars and clubs, so that I can travel to foreign destinations more often. Plus the drinking is so much funner when you’re topless with shorts on in the middle of a January snow storm.

We can all make some minor financial changes so that we can have some money left over to travel.

Save small amounts over long periods of time.

I find it funny when someone complains about the price of a trip.

$1,000? I could never afford that!

The irony of the above statement is that when you go out in the city three times a week you end up spending more than $1,000 after a few months. Nobody ever wants to run the numbers.

I save $20 a week for every trip I plan on taking after a year or so. Saving $20 a week is pretty easy for most us. Just have a few less beers at the pub or buy a less popular brand of jeans.

What’s with the travel post?: As you read this I’m probably either laying on the beach or ordering another round of drinks on a resort in the Dominican Republic. I will back on Saturday but the posts never stop.

Is it worth it to travel in your twenties?

While cramming for exams I have been able to read a few posts here and there. A post that caught my eye (due to the topic) was about discussing whether travel was worth it over at Man Vs Debt.

Do I think travel is worth it in your 20s? For me personally I think it is. However, it isn’t for every twenty-something.

Why travel is worth it in your twenties?

Income flexibility.

When your monthly overhead costs are fairly low (cell phone, gym, insurance, when you live at home) you have an amazing opportunity to go away for extended periods of time without much of an income. If you manage to build up your passive income you will experience the luxury of money coming in while you travel.

When else can you have this much financial freedom to pack up and travel?

No family.

Most of us don’t have children of our own yet. Hell, most of us don’t have much responsibility at all.

Sure you can travel when you have a family but how wild can it be? Take advantage of your lack of real responsibility and go somewhere you’ve always wanted to see.

Perfect time.

The timing to travel in your 20s could be perfect. You could have down time in between jobs, you can have a few weeks of vacation time saved up at work, or you can be experiencing a slow seasonal period with your small business. These “down periods” can be used to travel. Even if you can only squeeze in a week in the winter, it still allows you to escape the bitter cold and try something new.

Easy to plan.

Aside from trying to collect money from broke friends that want to travel with you, the planning is fairly simple. With the emergence of sites like Trip Advisor and Couch Surfing, you can find any information (from wildest clubs to nicest beaches) on traveling that your heart desires.

When travel is not such a hot idea:

I would highly advise you take care of the following areas before getting into travel.

Have a retirement account setup.

You don’t want to make the mistake of waiting until your thirties to start saving for your retirement. I know saving for retirement is boring, but you need to ask yourself, “how long do I plan on working for?” If you want to retire in your 50s then you likely should start saving for retirement ASAP.

Have some minor accomplishments under your belt.

This could include anything from a profitable side business to a Master’s Degree in your chosen field or plenty of work experience. Make sure you don’t decide to get away for a few months before you have reached some of the goals you have set for yourself.

Watch your debt.

Obviously you won’t be able to pay off your debt as soon as you graduate from college. With that being said, just because you have debt it doesn’t mean that you can’t enjoy your life. You should strive to be confident with your road to debt repayment before you decide to spend money on traveling. Once you have a plan in place for tackling your debt, you can spend a little bit of money on travel. Traveling is fun, but the burden of carrying massive amounts of fun can really shift your focus away from having a good time.

Is traveling the world worth the money in college?

For those of us that live in the city it is no secret that we love to get away in the summer time and rent a cottage miles away from home. However, is this really such a great idea? After traveling to all inclusive resorts down south for the past 4 winters I have now considered trying this option during the summer time. It seems like over time, renting a cottage or traveling to a near by lake has become the ideal vacation option during the summer for most young people. Today I want to take a look at the cost of summer cottage rentals and determine if they are worth the price:

Renting the cottage for the week

During the spring time I did some research to see what it would cost to go away during a long weekend this summer. I called some of the cottage rentals (since nobody I know owns a cottage) in a popular summer location about a 1.5 hr drive from where I live to collect some prices. I must admit I was fairly shocked by the price of just renting a cottage for a week.

Total: $1000 for a week for the group.

Gas required to get to cottage and drive around

Once again prices vary depending how many cars you travel in and what type of engine your car has.

Total: Anywhere from $100-200 depending on distance traveled

Food for the cottage rental

Your daily food will obviously be different but I typically try to eat anywhere from 4-5 meals a day when I get away. Breakfast (usually eggs & toast), lunch (sandwich), afternoon snack (something light), and dinner (some chicken/steal on the barbecue).

Total: Roughly $25 a day/person

Drinks for the rental resort

This all depends on how much and what you guys will consume as a whole. Water, Cola, Beer, you name it, everything is fair game when going away with a group of friends.

Total: About $20 a day/person

Extra costs

From mosquito repellent to having to pay for any damages you or one of your drunk friends may cause to the cottage rental you stay in.

Total: Who knows? Depends on the group.

It is unfair to try to come up with a final average number for the cost of renting a summer cottage or to try to answer whether it is worth it or not. The take home point is to consider the value you obtain from a couple of days spent at a summer cottage and whether it is worth the cost involved in your opinion.

After running these calculations it is clear to me that a week at a cabin rental would be more expensive than paying for an all inclusive vacation down south during the summer months. Sure a beach rental can be more convenient because all you have to do is get into a car and drive there, but could this money also be put toward an amazing travelling experience?

What are your thoughts on the money involved in getting away from the city? What are some other alternatives to consider?

photo: paulhami

Tanning beds are killing your wallet & now YOU. I recently read an interesting study that claims that that sunbeds are as harmful as cigarettes. The analogy was that sun tanning beds are to skin cancer what cigarettes are to lung cancer. This may seem like an irrelevant concept but the truth of the matter is that many 20 somethings use tanning salons. To be honest, I have used a tanning salon in the past prior to going away to a warm country in the winter. My thinking was that I need some sort of a base tan before my white skin went into the boiling sun.

After I read the study I decided to conduct some research and check out some of the prices of using the services of a tanning salon. It seems that the average price in my area for one tan is $8 (no time or exposure limits) or $75 a month for unlimited tanning.

After looking at these numbers I instantly thought about what else one could do what that money. After a few minutes I came up with some thoughts on tanning salons and why this money would be better utilized through many other ways:

Instead of Tanning Put The Money Towards Traveling

When I thought about the money you could save by not tanning I instantly thought of my favorite activity of traveling.$75 a month can be socked away into your personal savings account and used towards traveling to interesting destinations every year. Yes $75 a month equals $900 a year which you may think is not a whole lot, but if you search for deals online and are flexible with your travel schedule you could easily find a trip. Worst case scenario would mean that you add an extra couple hundred dollars if you want to choose a more expensive vacation option.

Tanning Beds Will Never Beat a Beach In Cuba or Thailand

If you managed to curb your tanning bed spending and put that money towards traveling, you could visit some very exotic destinations around the world, with beaches that could blow your mind. Last fall when I was I was rigorously saving money and working hard to finish my college semester, the only thing I needed to get me through the late night study sessions was looking at pictures of the beach at the resort in the Dominican Republic. You could spend tons of money and lay in tanning beds every single day so that you have a year round tan but you will never grasp the priceless experiences that come with traveling.

Traveling Will Provide You With a Tan & Much More

If you choose to travel down south and visit a warm country then you will definitely get a nice tan plus a great culture experience. It’s great to have a tan all year round but it’s great to see how people live in different places across the planet. It really helps you appreciate what you have when you see the living conditions in a third world country.

What are your thoughts on this whole new study proving that tanning beds cause skin cancer? How would you rather spend the money?

photos: nattu, CJ Sorg, Renee Ehrhardt