Traveling as a young couple for 6wks minimum - loan?

CBear1993 · 23-07-2020 11:28pm #1

I’m sure this has been covered many times! Apologies in advance.

DISCLAIMER: before this is bashed with coronavirus talk, obviously I’m aware at any stage of our travels we could be forced to return home, or may not even get at all. Our destinations are limited at the moment, so we’re looking at early 2021, originally wanted November 2020.

I’m 26, girlfriend is 26.

I’ve €8K in savings and she has €5K.

I love traveling, and any money I’ve spent on it I don’t regret. Before I met her I was in Australia for 6 months, and would have frequented the USA and Europe 2-3 times per year. Spent a summer in US. Did some solo traveling.

Haven’t got away as much since we moved into our 1st apartment together in dub, the tough choice is just keep saving away for a mortgage for a house in the next 2-3 years. But I really want to do this, she’s finishing a masters soon and would like it as well.

Is it common enough to take out a credit union loan or something for this and pay it back over time?

I just think if we don’t do it now , we’ll prob have kids in the next few years and have the house, never get a chance then until we’re in our 50s. I’m going to knuckle down at work after it too and push on, my job pays fairly well for my age.

I’m not talking around the world, maybe a couple of weeks on US/Canada pacific highway, she would love to do Asia again but I’m not that keen, although it’s cheap I’m told. She has a sister in oz, so that’s an option too. (None of these are realistic right now

) Europe wouldn’t be overly exotic for me to be honest, would rather leave it until I can go outside EU , which is god knows when.

I’m guessing we’d have to go with hostels/air b n bs etc. I am not bad with budgeting as I my career is in cost management.
I haven’t even sat down to do the sums yet, flights will be the biggest cost. Would prob have 4/5 destinations lined up and only book one, spend as long as we’d feel in the first place then move on.
It’s a good time in that she’ll be looking for a new job with her masters done, and I can get a career break as I’d mentioned it a while back.

I’m usually quite frugal, and my head says save for a mortgage, but the great memories I’ve had traveling and the “f*ck it” attitude says do this, we won’t regret it.

Obese Man · 23-07-2020 11:33pm

Do it OP, you won't regret it.

CBear1993 · 23-07-2020 11:42pm

Thanks. Was expecting a different first response tbh. Something about covid or the sensible approach to stay put and save for a house! Apartment living isn’t great but it’s better than renting.

One of the scariest things I did about 4 years ago was quit my very secure job, 10 mins from home, I had a big future in the firm and got on well with all the directors.
Few of my best friends were heading on a J1 to play football in New York and I went for it, handed in my notice. Best decision ever. Barely lived at home again since that.

23-07-2020 11:50pm

Did you get over your doubts then?

Obese Man · 23-07-2020 11:51pm

You can be sensible all your life if you want to. 6 weeks off to see the world if you can, that you will not regret. Don't even think twice about it

CBear1993 · 23-07-2020 11:55pm

bubblypop wrote: »

Did you get over your doubts then?

What do you mean, sorry?

CBear1993 · 24-07-2020 12:00am

Other half wants :

Vietnam, Indonesia, some more of Oz (not Sydney or Melbourne, both been) New Zealand and Fiji. Maybe Dubai on the way.

I’d tend to go for more off the beaten track and throw in a few Asian cities, wouldn’t really care that much if I didn’t see the Australian cities themselves again. It’s just so vast of a place to try cover outside of them. The west coast of US I’ve always had a soft spot for, San Francisco in particular.

Neither of us have ever considered South America, know very little about it, apart from the transport is limited and the need to speak Spanish .

24-07-2020 12:11am

CBear1993 wrote: »

What do you mean, sorry?

Relationship doubts

ted1 · 24-07-2020 12:11am

Skip the US and Canada, you’ll just burn through cash and cultural they are holes.

I’d look at Africa , Asia or South America

Brazil speaks Portuguese and makes up a big part of South America.

De Danann · 24-07-2020 12:18am

CBear1993 wrote: »

I’ve €8K in savings and she has €5K.

Haven’t got away as much since we moved into our 1st apartment together in dub, the tough choice is just keep saving away for a mortgage for a house in the next 2-3 years. But I really want to do this, she’s finishing a masters soon and would like it as well.

Is it common enough to take out a credit union loan or something for this and pay it back over time?

I just think if we don’t do it now , we’ll prob have kids in the next few years and have the house, never get a chance then until we’re in our 50s. I’m going to knuckle down at work after it too and push on, my job pays fairly well for my age.

I’m usually quite frugal, and my head says save for a mortgage, but the great memories I’ve had traveling and the “f*ck it” attitude says do this, we won’t regret it.

I took an ill-timed career break at the start of this year to go travelling with my partner. We had the same idea as you, we were saving for a mortgage and decided to do a big trip before we settle down. I'd definitely recommend getting travel in before taking on the biggest financial commitment you will likely ever make. Ours was obviously cut short but it was still a fantastic experience for us.

We didn't get out a loan, we just saved for months and left Ireland with similar savings to what you guys have. However, we travelled around SE Asia which was cheap to live a pretty comfortable lifestyle. If you are planning to go elsewhere like the USA or Canada, you will need to decide on a definite route and then budget, budget, budget.

I would also recommend that if you plan on doing this while Covid is still an issue, whatever amount of money you have budgeted for your trip, add another few thousand euro each on top of that for emergencies.

For example, several flights we booked to come home were impossible because of rapidly changing border restrictions. The refunds for cancellation took over 30 days in some cases to be processed. You don't want to end up stranded somewhere because you spent your last euro on a cancelled flight. Thankfully we had the money to spare but there were other backpackers not so lucky.

Also you should be aware that repatriation flights often cost more money than commercial flights, so you shouldn't rely on them being an option. We found a lot of our fellow backpackers were not aware of that and simply thought their government would come collect them for free!

I personally wouldn't go for a credit union loan for this. Research your destinations to figure out a goal you both need to reach in savings. When you both have reached the goal (and then some) you can start booking everything with the peace of mind that its all completely your money that you are enjoying!

sabat · 24-07-2020 12:27am

I'd go to Central or South America. There's still good value to be had (especially with the hammering some currencies have taken recently) and you'd have the fun of discovering new places and relatively unglobalised cultures together. You probably know about 200 Spanish words already without realising-throw in 20 hours of something like Pimsleur and you'll have no problems getting by.

CBear1993 · 24-07-2020 12:32am

De Danann wrote: »

I took an ill-timed career break at the start of this year to go travelling with my partner. We had the same idea as you, we were saving for a mortgage and decided to do a big trip before we settle down. I'd definitely recommend getting travel in before taking on the biggest financial commitment you will likely ever make. Ours was obviously cut short but it was still a fantastic experience for us.

We didn't get out a loan, we just saved for months and left Ireland with similar savings to what you guys have. However, we travelled around SE Asia which was cheap to live a pretty comfortable lifestyle. If you are planning to go elsewhere like the USA or Canada, you will need to decide on a definite route and then budget, budget, budget.

I would also recommend that if you plan on doing this while Covid is still an issue, whatever amount of money you have budgeted for your trip, add another few thousand euro each on top of that for emergencies.

For example, several flights we booked to come home were impossible because of rapidly changing border restrictions. The refunds for cancellation took over 30 days in some cases to be processed. You don't want to end up stranded somewhere because you spent your last euro on a cancelled flight. Thankfully we had the money to spare but there were other backpackers not so lucky.

Also you should be aware that repatriation flights often cost more money than commercial flights, so you shouldn't rely on them being an option. We found a lot of our fellow backpackers were not aware of that and simply thought their government would come collect them for free!

I personally wouldn't go for a credit union loan for this. Research your destinations to figure out a goal you both need to reach in savings. When you both have reached the goal (and then some) you can start booking everything with the peace of mind that its all completely your money that you are enjoying!

Solid advice!! How long did you both get away for and where did you cover if you don’t mind sharing!

CBear1993 · 24-07-2020 12:34am

sabat wrote: »

I'd go to Central or South America. There's still good value to be had (especially with the hammering some currencies have taken recently) and you'd have the fun of discovering new places and relatively unglobalised cultures together. You probably know about 200 Spanish words already without realising-throw in 20 hours of something like Pimsleur and you'll have no problems getting by.

I hate to ask this question - as it’s the first thing you generally see on TripAdvisor.

But is it safe? I’m a big enough lad but it’s probably the one corner of the globe I haven’t a clue about and haven’t had too many friends went either. I do know of one Irish girl travelled around it by herself but she was fluent in Spanish and fell in with random backpackers.

Just some of the stats you read about the poverty and high murder rates of Central America.

sabat · 24-07-2020 10:06am

CBear1993 wrote: »

I hate to ask this question - as it’s the first thing you generally see on TripAdvisor.

But is it safe? I’m a big enough lad but it’s probably the one corner of the globe I haven’t a clue about and haven’t had too many friends went either. I do know of one Irish girl travelled around it by herself but she was fluent in Spanish and fell in with random backpackers.

Just some of the stats you read about the poverty and high murder rates of Central America.

It depends really; if you wander into Zone 18 of Guatemala City you're 100% going to be robbed at gunpoint whereas if you go to Antigua 40 miles up the road you can go anywhere 24/7. Local people everywhere will usually tell you if you're going somewhere dangerous and tourist areas are well policed-it's only the barrios in big cities and some border jungle areas that are out of control.

De Danann · 24-07-2020 10:16am

CBear1993 wrote: »

Solid advice!! How long did you both get away for and where did you cover if you don’t mind sharing!

We managed just under two months (we had intended four months). We covered Thailand, Laos and Cambodia in that time.

We always stayed in nice hotels and hostels (SE Asia hostels are much better than Irish ones, they have private rooms and some have swimming pools) in good locations and the meals were mostly less than a fiver if you are alright with local food. We had the odd Western food day in more built up cities (Pizza Hut etc) and that was normally still not as pricy as home.

CBear1993 · 24-07-2020 10:23am

De Danann wrote: »

We managed just under two months (we had intended four months). We covered Thailand, Laos and Cambodia in that time.

We always stayed in nice hotels and hostels (SE Asia hostels are much better than Irish ones, they have private rooms and some have swimming pools) in good locations and the meals were mostly less than a fiver if you are alright with local food. We had the odd Western food day in more built up cities (Pizza Hut etc) and that was normally still not as pricy as home.

Thanks!! Is it really that amazing? I was never for doing the whole Thai island full moon party scene, my gf has done that and loved it for 8 weeks.

It might be a bit optimistic to say the least to do more than one continent with our budget. A trip of Asia, Oz/Nz and a Dubai / Europe stopover on the way over and back would probably cost a fortune.

De Danann · 24-07-2020 2:00pm

CBear1993 wrote: »

Thanks!! Is it really that amazing? I was never for doing the whole Thai island full moon party scene, my gf has done that and loved it for 8 weeks.

It might be a bit optimistic to say the least to do more than one continent with our budget. A trip of Asia, Oz/Nz and a Dubai / Europe stopover on the way over and back would probably cost a fortune.

We actually didn't do the island thing at all. We spent only three days in Bangkok to see the city but then took buses up through the country and saw temples and historical sites. We also did a day at an elephant rescue centre in Chiang Mai which was a lot of fun.

Lots of talking to locals at temples and finding lesser known beauty spots to visit. Thai people are very kind and friendly, especially outside Bangkok, and are eager for you to see the best of their country.

If you do go to Thailand, do not miss out on Chiang Mai and Chiang Rai. Absolutely stunning temples and beautiful food. PM me if you decide to go and I'll give you a rundown of recommendations we got from locals and the list of things to do besides island hopping.

I gained over a stone in weight in only a few weeks because I had to try all of the food!

Tails142 · 24-07-2020 2:13pm

Did similar to you years ago, went to peru first where we got engaged, Thailand/vietnam/cambodia for honeymoon and then south africa for a second honeymoon. 4 kids now.... Haven't been on a holiday in 4 years now.. Fuuucccc

Would recommend peru, did a 3 week tour with g adventures traveling around the country including the inca trail, could easily arrange it all yourself though.

She had done australia/nz and we'd both.done parts of the U.S., I want to go to japan next. I'll probably have to wait 30 years until I retire at this rate though

Rimmy · 24-07-2020 2:18pm

Do it OP, some people like to have a new car in the drive way which I will never understand but each to their own. Every spare cent I have goes on travel.

krissovo · 24-07-2020 2:20pm

sabat wrote: »

I'd go to Central or South America. There's still good value to be had (especially with the hammering some currencies have taken recently) and you'd have the fun of discovering new places and relatively unglobalised cultures together. You probably know about 200 Spanish words already without realising-throw in 20 hours of something like Pimsleur and you'll have no problems getting by.

+1 to this, Chile, Argentina, Peru, Suriname & Belize are amazing to visit and I felt really safe travelling a few years ago. Brazil is fine outside the rough areas of Sao Paulo and Rio, but head to the smaller towns and you will have blast and feel really welcomed.

South & Central America really are friendliest people, I do not Speak Spanish or Portuguese but did fine with a phrase book and app most of the time. Brazil was certainly challenging with the language but it made it quite fun at times. It was easy to make friends.

I found Argentina really special, if the economy was stable I would probably be living there now. Buenos Aires is my favorite city full stop, its laid back culture and alfresco lifestyle is like a fine blend of Milan & Barcelona. Mendoza another of my favorites has the outdoor attractions year round like Munich but which a unique latin american stlye.

CBear1993 · 24-07-2020 3:05pm

Why would you not advocate a loan for it out of curiosity? If you got a very low interest one or that... suppose it’s the paying back of it while saving for something else.

We would prob spend all our savings easily doing the above, hard to start again for a house but we are young. Could always move somewhere for big money for a year or two when we’re back I suppose

I’ll keep doing the lotto so &#55357;&#56876;

24-07-2020 3:11pm

CBear1993 wrote: »

............... so we’re looking at early 2021, originally wanted November 2020.

I’m 26, girlfriend is 26.

I’ve €8K in savings and she has €5K.

.......
Is it common enough to take out a credit union loan or something for this and pay it back over time? .............

I'd do it if it rocks your boat. Presumably you won't be handing in your notice or anything. If you go the loan route perhaps aim to clear it within a year of coming back or something. If you take a wad out over 5 years ye might spend way more than ye need and regret that when paying it back.

With covid though most of the places mentioned on this topic will likely be effective no go areas for 12/18 months + IMO .......... as in areas of real hardship exacerbated by Covid and less tourists etc.

Canyon86 · 24-07-2020 3:18pm

Definitely go for it, You wont regret it, I have been thinking along similar lines myself before Covid, I m thinking South America 6-8 weeks next year,

I m in the middle of buying a house at the moment, so once that sorted Ill look at taking a short sabbatical from my job.

I d hope not to borrow anything if I could, maybe use savings, Good luck with your trip!

Uncle Pierre · 24-07-2020 3:24pm

Did something similar myself before settling down. It was about 15 years ago now, and I was in my early 30s rather than mid 20s (maybe I didn't mature as quickly as you!). Ten weeks around Thailand/Cambodia/Vietnam, with a few days in Laos in the middle of the trip. It remains one of the best times of my life, and I'd 100% say go for it.

On your original question though, my advice would be to just go where you can afford with your savings, and for only as long as you can afford with your savings. A low interest loan (if you can find one) might seem like an attractive option, but no matter what, you'll be a lot longer paying that money back than you will be in spending it in the first place. And after a year or two of repayments with money that you could have been putting towards a deposit instead, you could very well find yourself wondering why you bothered in the first place.

You've a nice sum built up between you, and you should able to save more in the coming months before you get to travel at all, so there's lots of potential for the trip of a lifetime without having to borrow to fund part of it.

CBear1993 · 24-07-2020 4:46pm

Great advice, cheers. Will take a bit of budgeting to see how far we can get with it.

Nigel Fairservice · 24-07-2020 5:45pm

I spent about €10,000 travelling around the US and Canada for 3 months 10 years ago. It was all the money I had saved up to that point. I was heading into my late 20s at the time. I think I enjoyed the trip all the more because I didn't have to pay for it after. I came home broke but my savings have recovered since then. I've done a fair bit of travelling since then too but it was always my own money I used. I would avoid taking out a loan for it if possible.

CBear1993 · 28-07-2020 9:35pm

Thanks a million for all replies.

We’re going to sit down now and spend a day just pricing the flights. And of course we can’t actually book to early 2021 it looks like.. if even!

rizzee · 29-07-2020 11:18pm

bubblypop wrote: »

Relationship doubts

Sure he's looking into negotiating perks of a new job as well before he's got it. Like a Mr F all over haha.

wolfyboy555 · 29-07-2020 11:28pm

100% go for it. It will be the best decision of your life. I would advise to get away for as long as you can afford. myself and my partner did a 13 month trip in 2018/19 and had the time of our lives. Like others have mentioned South America is great. So diverse and the geography changes so much. We also loved Vietnam. The people there are so friendly and the food was delicious. Always eat what the locals eat don't bother with Western chains they are rubbish. Don't be afriad to get off the beaten track. We did places like Georgia and Iran where the tourist trail isn't as busy.

dory · 30-07-2020 4:53pm

Definitely go for it, but don't get a loan. Coming back from travelling and readjusting is hard enough without being saddled with debt. And it could take you some time to get set up again with rent etc. €13k is loads, and it'll be a year before you leave so you could have more saved between now and then. I would also recommend South and Central America. Have been 3 times and always felt it was safe. Now, I didn't go hanging around the capital cities of Nicaragua or Honduras, but the touristy towns are fine. Anytime I heard of someone being mugged it was 2am when they were walking home alone, so don't do that!

trihead · 30-07-2020 5:52pm

- As mentioned don’t go with a loan you have enough there I think.
- Buy a round the world ticket - it will work out cheaper.
- Have a look at some travel sites - trips and itineraries will give you some ideas. Some of their budget trips might be worth doing to mix things up too.

https://www.gadventures.com

https://www.intrepidtravel.com

https://www.exodus.co.uk

Tabby McTat · 30-07-2020 7:41pm

OP definitely go for it. You're only young once!! My partner (now wife) spent 9 months travelling around the world in 2012 when we were 27/28. Best decision I've ever made. As others have said you should max out on the savings and avoid a loan if possible. But be smart about where you go...developed countries like North America and Oz/NZ will see you burn through your cash.

We spent 3 months in Sth America and it was fantastic. We did some Spanish classes beforehand and even having a few phrases made a huge difference. As others have said, the cities can be dodge but once you're smart you'll be fine. So much to see and do in places like Peru, Argentina, Colombia.

Asia is incredible too. Plenty to see and do and avoid the cliched spots. We found Philippines to be amazing and Borneo too. Also we've been to Indonesia more recently and I would definitely recommend it...once you get out of the really touristy part of Bali.

Word of advice is to take your time. No point having a jam packed itinerary if you only have a night or two in every spot. Trust me you will burn out. Especially in Sth America where the journeys take so long...150km could be a whole night on a bus because you are winding through the Andes!!

TimeToShine · 02-08-2020 4:09pm

Plenty of time to see the US/Canada/Australia when you're older, it's Africa/South America/Asia that you'll never get to if you don't go now.

Traveling as a young couple for 6wks minimum - loan?

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