How to budget for a working holiday

When it comes to making big moves overseas it can be really daunting. You have to face moving home, leaving friends and family behind and figuring out how to make some money to sustain yourself. On top of this, life gets more complicated if you don’t know how to manage your money or how to create and stick to a budget.

If you are looking for a change and a chance to live and work abroad, this advice is for you! We’ll show you some of the best tips to get you ready for your trip, so you can get off on your adventure sooner than you think!

The basics

Before you jet off make sure you have investigated:

  • If you need a Visa – and how much it will cost
  • Travel insurance
  • Cost of flights (and any other methods of travel that you need to take to get to your destination)
  • Must see’s/do’s whilst you are away
  • Work – how to get a job
  • Budget – what’s the cost of living? Think about accommodation, local travel, food, clothes, having fun and any emergency money you might need.

Money matters

Right, so you’ve figured out that you want to travel and work to fund yourself whilst you do it. Great, the best thing you can do RIGHT NOW is to get your budget worked out! Create your budget by looking at your income and pouring over your outgoings in detail. Yes, it’s a little bit of a pain and can take some time but it’s going to allow you to make big savings which can make all the difference when it comes to your future travels. Having some savings behind you when you set off could make the difference from just surviving abroad and thriving. The good news is that there are apps out there that can make budgeting easy. Check out Wally, Goodbudget and You Need A Budget (YNAB) to create easy to follow budgets.

Grab a bargain

Now is the time to figure out exactly what you want to do on your travels. As you will be working you’ll need to know your working hours before you can make any solid plans for leisure activities. Once you know when your free time will be, look up some of the things you really want to see and do in your chosen destination. Get looking at sites like Groupon and a local TimeOut to book in advance any tours, activities or services that you want for a discounted price. Also, book your transport like flights and trains early – you can often get a great deal if you book far in advance.

Know your goal

Before you jet off try to get a firm understanding of why you are leaving and what you are attempting to discover in your life. Getting to grips with the things you are leaving behind, and why, is going to help once you have left; it’ll put a dampener on any of the bad feelings and homesickness you might experience. Really knowing what your overall aim for your move is will make things easier for you. When times get hard you’ll have something to stick to – a solid plan with an end goal in mind.

Now all you have to do is know what you want to achieve, where you want to go and what you want to do to fund it! It’s entirely possible to travel and work at the same time, just follow our advice and start making the right moves now!

Photo credit: szwerink


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