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?
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?
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.
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?