Getting Close To Takeoff

October 30, 2012 | By | 6 Replies More

Takeoff

Planning this RTW trip is exciting! It makes me happy just thinking about it. Research has actually shown that a boost of happiness comes from planning a vacation.

While this isn’t quite a two week vacation, but a lifestyle change… there are a few things on my mind.

I enjoy my job.

Things are going fine at work and I love what I’m learning and what I do. Plus, I like the time I spend with most of my coworkers. I’m able to do some cool stuff at work right now. The timing of taking this trip might be adjusted until I call it quits or if my employer decides they don’t need me. The future is uncertain, but things always work out.

I have about $3000 in credit card debt I need to pay off first. I’d like to start this journey by zeroing out my balances. I’m close to paying everything so it’s just a matter of working a few more months. I would have this settled already, but I decided to go to Burning Man and the Balloon Fiesta which adjusted my payment schedule. I’m happy I went because if I left the country it might be a trek to come back to the U.S. to do these events the following year.

The next item on my list is saving an additional $3000 to cover my student loan expenses for a year. I’d like to have piece of mind that I can meet my obligations.

That brings my total to a whopping $6000 I need if I want to jump tomorrow.

It would be nice to have extra money for re-entry if I decided to go back into cubicle life, but I plan to work virtually while on the road. I’ll figure this out later or cut my trip short if my funds run low.

I’ve already got rid of a lot of my possessions. I’m about as mobile as I can be. Packing and moving my place will take less than three hours.

I’m getting close.

  • Have any of started a RTW trip with debt?
  • How would you handles this situation?

Category: Planning

Comments (6)

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  1. Andy says:

    I think that one of the cool things about traveling is the longer that you do it, the less you realize that you need. You become increasingly more mobile. Debt is a sticky subject because most obviously never have a choice in the matter. If it were a long-term loan, then obviously refinancing would likely take a hit to credit. I’d recommend to never leave home without leaving a fund for your debt or paying it off first. Short-terms should be cleared, long-terms can be taken care of with a rolling account or automatic draw.
    Cool research also!

  2. Jessica says:

    I had student loans outstanding as well when I left (and still do). I’ve been making small monthly payments for some time, so it was just something I factored into my trip budget – I definitely don’t think it needs to be a deal breaker. Obviously starting with zero debt is ideal, but there’s never a perfect time to start traveling – eventually you just have to go for it :).
    Jessica recently posted…Why You Don’t Remember Your Last VacationMy Profile

    • Thank you. I was originally thinking about zeroing out student loans, but I will just allocate for it in my annual budget. You are right about that there is no perfect time to start.

  3. Arianwen says:

    Travelling with debt would scare the shit out of me. I can’t relax without a backup plan in case things go wrong. Then again, I guess if you count my student loan and mortgage, I’m in massive debt, but I wasn’t going to put off living my life until all that was paid! Good luck with the preparation!
    Arianwen recently posted…Freezing my ass off on the Santa Cruz trekMy Profile

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