How to Pay for a Gap Year

Managing Money During Your Gap Year

My love of travel over the years has taught me to be smart about managing money. I made some mistakes early on (ie. not understanding exchange rates and drastically overpaying for souvenirs). Yeah, they were learning experiences, and that is part of a gap year -- you are free to make mistakes and learn from them. Another core lesson I learned from traveling: heed the advice of people who have been there before me. Hopefully some of the lessons I learned throughout my years of traveling can help you to save some money and make smart financial choices during your gap year. 

Make a Budget (and stick to it!)

How much money will you need for basic necessities (food, lodging, transportation)? I have found the Lonely Planet budget suggestions (Divided by: Budget, Midrange, Top End) to be pretty accurate. Figure out which category suits your travel style, and multiply that by the number of days you plan to travel in that region. ie. $30 per day in South America will mean you can expect to stay in hostels, prepare most of your own food or eat at inexpensive local markets, and walk or take public transportation.

Keep track of your expenses and if you accidentally go over one day, expect to cut back your expenses another day to make up for it. If you have trouble sticking to your budget, try only taking enough money with you that you have allotted for that day.  Store your remaining money securely in a locker in your hostel. If there is no locker, or if you are in a private room, stash your extra cash and valuables inside a backpack or bag with zippers. Lock the zippers to one another with a small combo lock. 

There will undoubtedly be excursions or more costly activities you'll want to participate in during your gap year. If you can swing it, add an extra cushion to your budget for that Amazon experience or trek to Machu Picchu. Plan ahead so you don't have to miss out on a once in a lifetime opportunity. Research companies (or ask your gap year advisor for recommendations) to ensure you get good experience from your investment. 

If you are already on a shoestring budget, consider looking into work or volunteer opportunities that might subsidize your housing and food costs for a portion of your gap year. Authentic encounters where you get to spend meaningful time with locals are often the most memorable parts of a gap year experience. You'll be able to save up cash that you can use for the more "touristy" parts of your gap year.

Me during a week volunteering at an elephant conservation center in Thailand

Accessing Cash

Traveling with up to $200 cash in newer bills as a back up fund is a good plan, especially if you are traveling independently. Though I do not recommend bringing all of your budget in cash. You run the risk of having it stolen, plus you will waste money on exchange fees each time you exchange USD to local currencies. No matter where you go, you will see money exchange businesses that advertise "no commission" or "no exchange fees". This is not true! Do not be deceived. Currency exchangers make money by giving you an unfavorable exchange rate. The exchange rates offered at currency exchange booths are rarely, if ever, competitive to those offered by banks when you withdraw cash from an ATM.

Bring a debit card with a chip to withdraw local currency from ATMs. Visa tends to be the most widely accepted, though MasterCard is also an option. I typically recommend participants also bring a back up credit card (Visa or MasterCard with a chip) for emergencies (or in case the debit card is lost, stolen, or does not work). Be aware of the fees that your bank charges for accessing an ATM that is not affiliated with your bank, as well as foreign transaction fees and conversion fees. These can really add up. I suggest withdrawing larger amounts (no less than the local currency equivalent of $100) to minimize the frequency of your withdraws and fees assessed by your bank. 

If you plan to do a lot of traveling, or for a long period of time, you might consider opening a checking account with Charles Schwab or Fidelity. Both offer checking accounts linked to brokerage or mutual funds with free ATM withdraws worldwide.

Store your extra cash and backup credit card separate from your debit card and money you have allotted to spend for the next few days. If something is lost or stolen you will have a backup plan. Many debit and credit cards now come with access to block your cards via your online account. If you can't do this, be sure you have the account numbers and international customer service numbers noted somewhere so that you can immediately report the loss if this happens. 

Ways to Stretch Your $$$

• Take a re-usable water bottle (and Steripen if you won't be able to drink the tap water)

• Bring your water bottle with you, always

• Minimize your alcohol consumption (alcoholic beverages are often as expensive as a meal)

• Travel like locals (bus, subway, bicycle, by foot) Only take taxis when necessary or for safety

• Stay in hostels or locally owned guesthouses

• Bring a quick dry towel and combo lock to avoid having to rent them

• Eat like locals / Shop at local markets and cook your own food

• Avoid touristy areas for meals (quality is usually poor and prices are inflated)

Be frugal but don't obsess over every dollar. Don't miss out on once in a lifetime opportunities. When in situations where bargaining is culturally appropriate, bargain, but consider the significance of that amount of money to you compared to the person with whom you are bargaining. 

Packing for your Gap Year

You made the courageous choice to deviate from the traditional path and take a gap year before college. Awesome! Hopefully by now you have also already developed a well-rounded plan for your gap year. (If you haven't you might consider scheduling a free consultation with us to help you get started :) For those of you who already have their gap year plans sorted, you may have already begun thinking about what you will take with you. It is smart to begin strategizing how you will pack in advance in order to avoid the fatal mistake of overpacking. 

Packing

The single most important piece of advice I can give on packing is to stick to the packing list. DO NOT OVERPACK. You maybe be tempted to bring more than what is suggested, but after a few days of lifting your luggage on/off trains, planes, and tuk tuks you will wish you left that extra pair of shoes at home. You will be surprised how much you can live without, and how little you care about your fashion choices during your gap year. Trust me....

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Sapa, Vietnam

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Traveling light is the ideal. When selecting clothing to bring, keep in mind that you may be traveling through diverse climates as the season changes, and choose clothing that is comfortable, and versatile in all situations. Plan to layer up for cooler weather.  You can still appear put together and practical if you put good thought into your packing. Pack clothing that can serve multiple functions, for example, leave the sequence mini dress or silk shirt at home and bring a maxi dress or wrinkle free collared shirt that you can wear for both cultural activities and a night out. Avoid items that require ironing or special laundering. 

Don't forget to be culturally sensitive with your packing choices. In some countries it is not acceptable to wear short shorts or tank tops. Pack knee-length shorts/skirt, or pair of loose fitting pants instead. You may be expected to cover your shoulders or head before entering some churches, temples, or mosques. Often times simply covering with a scarf can be modest enough to satisfy the requirement. Be sure to read up on the customs of places you plan to visit beforehand so you are prepared to be respectful of local traditions. 

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Blue Mosque in Istanbul, Turkey

If you are participating in an organized travel program during your gap year, the program administrators should supply you with a specific packing list for your program. I recommend following that list closely, as they know best what you will and will not need.

For those who are planning an independent gap year experience, here is a sample packing list I use for the Semester in Europe programs I lead:

Suggested Packing List
Shoes (No more than 4 pair)
◻ 1 pair of comfortable walking shoes ie. (broken in before we leave)
◻ 1 pair of business attire dress shoes
◻ 1 pair of sturdy sneakers or running shoes (optional, depending on your interests)
◻ 1 pair Flip-flops (optional but useful around hotel/hostel)
Everyday Clothes
◻ Long pants x 2 (1 pair jeans, 1 pair that can be dressed up)
◻ 1 pair of Shorts
◻ Skirt or Dress x 1-2 (Something that is comfortable and can also be dressed up)
◻ Shirt/tops x 5
◻ Warm tops for layering x 2 (cardigan and light-medium weight jacket) 
◻ Socks x 4 (can easily hand wash) 
◻ Underwear x 5 (can easily hand wash)
◻ Business Casual Outfit
◻ Swimsuit
◻ Raincoat
Gear
◻ Suitcase for traveling (see below) 
◻ Daypack and/or messenger bag (over the shoulder strap is most secure)
◻ Water bottle (avoid using plastic bottles to save money and the environment!)                                                                                                ◻ Stuff Sacks and a Reusable Tote                                                                                                                                                                        ◻ Portable Charger                                                                                                                                                                                                ◻ EU and UK electrical adaptor
◻ Small combo lock (lock the zippers of your daypack together to deter theft in your hostel)
◻ Small travel umbrella
◻ Quick Dry Towel
Accessories
◻ Sunglasses + Hat
◻ Camera & charger
◻ Ear plugs (optional) 
◻ Eye shade for overnight travel (optional) 
◻ Laptop or WiFi compatible device – phone
Paperwork etc
◻ *Passport
◻ Money belt pouch/belt to carry passport and money when traveling
◻ 1 Debit and 1 Credit Card
◻ Travel journal (optional) 
Toiletries
◻ General toiletries (toothbrush, toothpaste, soap, shampoo (4 oz. or less), sanitary needs etc. No need to bring full sized bottles. There will be places to re-stock along the way.) 
◻ Contact lenses and solution (Enough to last entire trip)
◻ Hand sanitizer (travel size)
◻ 4 oz. bottle of Dr. Bronner’s or other laundry soap (optional)
Personal first aid kit:
◻ Any prescribed medications in original bottles + copy of prescription
◻ Pain relief (Tylenol, Ibuprofen etc) 
◻ Electrolyte sachets x 5
◻ Vitamin C tablets or Emergen-C packets x 10                                                                                 

• If you plan to spend part of your gap year in a location without regular access to potable water, you will likely want to bring a UV water filter.

• No matter your destination I recommend leaving Hairdryers; Hair Straighteners, Electric Razors; or Expensive Jewelry at home. If you try to use hairdryers, straighteners, or electric razors you risk breaking them and starting a fire, as the voltage is not the same in every country.

• Laundry: Your program leaders will help locate laundry facilities roughly every week. In Europe these can cost $10+ per load. Bring a small bottle of multi-purpose soap, such as, Dr. Bronner’s to hand wash items in the sink.

Luggage

Most gap year experiences involve spending time away from home, either internationally or domestically. You will likely need a sturdy piece of luggage small enough to fit at least 3 months worth of gear. It is worthwhile to invest in a sturdy piece of luggage that will last you a lifetime rather than buying something just because it is cheap and risk having it fall apart mid- trip. It does not necessarily need to be brand new in order to be of good quality. REI and Patagonia both sell used gear.  Do your research and read reviews of products and brands before investing in a piece of luggage.

If your gap year program offers suggestions as to what type of suitcase - backpack, duffel, or wheeled suitcase, I recommend you heed their advice. They know what sort of luggage will suit your needs best. 

• I use a 70 liter backpacking pack for trips where I expect to engage in rugged outdoor experiences that might require me to carry everything a significant distance over a bumpy road or across a sandy beach (Southeast Asia & Ecuador & Peru). It is nice to have a pack with a zipper that allows you to access things at the bottom of your pack without unpacking everything from the top. A rain cover will help keep your belongings dry when you encounter wet weather.

• I took a duffel and a hiking day pack both times I traveled to Nepal. It is likely your bag will go on top of a bus or in the back of a truck at some point. A waterproof duffle like the Patagonia black hole is super sturdy and waterproof. We employed porters on our treks, and packed our belongings in duffles to make it easier for the porters to strap multiple bags to one another. We carried what we needed for the day in our daypacks.

• For trips where I spend most of my time in cities (Semesters in Europe) I use a wheeled Osprey that also has stow-away backpack straps and detachable daypack. If you plan to travel by train I recommend your suitcase dimensions not go over 25" x 16.8" x 11.5”. Larger suitcases can be difficult to fit inside the luggage compartments on board trains.

Something to identify your luggage as uniquely yours

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Wherever you are headed, remember to pack only what you really need. Your gap year is a once in a lifetime experience and you'll want to save your energy for actively engaging with the world around you, not stressing about all your stuff. Have questions, comments, or tips I left out? Leave a comment below!