I still have debt to pay off and I definitely haven’t forgotten about it. In fact, I’m making extra payments whenever I can to get the last of my (non-mortgage) debt paid off. But I’m not going to let my debt slow me down. I’m going to work hard to pay it off, build my savings, but I’m also going to do more traveling.
Yep, that’s right. Even though I have a lot of financial goals in place regarding paying off debt and building savings, I’m also going to be doing a lot more traveling. Why? I’m glad you asked!
Traveling for Business
I recently had a break-though regarding my business thinking. I have a lot of new goals and ideas and I can’t wait to implement them. They should help me be able to work less and continue to grow my online income.
Part of my business strategy is to spend time collaborating with and learning from other business owners and freelancers. This is also one of the reasons I’m going to be doing more traveling.
Traveling for business is fun and I can’t wait to explore new places and learn and grow my business at the same time.
Traveling for Fun
Although most of my trips these days do have some business aspects involved in them, I’m also going to have some fun while I’m gone.
I like to take combo trips for fun and business because it means that my trips are all at least partially tax deductible. Woohoo!! 🙂
It’s also fun to explore new places and have new adventures.
Traveling for Adventure
I have always loved adventures, and I used to go on a lot of small adventures with my dad when I was a kid. But, I’ve never done much traveling across the country. I’ve also never been outside of the United States.
While I’m not sure traveling abroad is something I’ll accomplish in the super near future, I’m still very excited about the adventures of the cross-country trips I have planned and those to come.
The best part about the trips I have planned is that I shouldn’t see a big drop in income from traveling, and I don’t have to “request off” in advance. I’m very excited that I’ll be able to keep my business running while traveling, although I do plan to work a lot less while I’m gone. 🙂
How to Avoid Letting Debt Hold You Back from Traveling
You shouldn’t let debt hold you back from traveling, but there are a few things to keep in mind if you’re going to travel before you’re debt free.
1. Don’t Add to Your Debt
First and foremost, don’t add to your debt because of your travel plans. Don’t put your travel on a credit card unless you know with 100% certainty that you can pay it off in full.
If there’s any doubt in your mind, don’t put it on credit! It’s ok to pay with your debit card or cash if you don’t trust yourself with credit yet.
2. Start a Travel Fund
Starting a travel fund has been key for me to take more trips without adding to my debt.
I have a dedicated fund specifically for travel savings, which helps me avoid feeling guilty about travel while I’m still in debt too.
Having a dedicated travel fund is smart because then you won’t be tempted to dip into it for anything else either. Plus, if you open a high-yield savings account, you can earn interest to add to your travel fund.
3. Plan Ahead and Be Frugal
You don’t have to succumb to travel hacking in order to have a frugal vacation. Instead, use a few of these travel tips I shared from a recent trip. They helped me travel for less than $100/day without travel hacking or using credit cards.
My big tip, use alternatives instead of a hotel, like Airbnb!
Do you have any travel planned? Is your debt holding you back from traveling?