Should You Borrow Money to Travel?

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.