Would you consider taking out loans to travel?

Budget questions are among the most frequently asked when it comes to planning just about any trip, but especially long-term trips. When you feel ready to hit the road, the time spent waiting until you’ve saved enough money to travel can be agonizing – so what about taking out a loan and traveling now?

BootsnAll member Ben2Africa says he doesn’t plan on doing this, but he knows someone who is:

I have a friend who is planning on taking out a $10,000 loan to spend a few months traveling the world. I also have the urge to do the same because it seems so easy and would make my RTW happen so much sooner. But, I remember reading “Vagabonding” by Rolf Potts and a section where he wrote about how working to fund your travels is all part of the experience. Because of the saving, and sacrifice the traveling is more rewarding. Just curious what your opinions are and if any of you have done this in the past?

Ben2Africa notes that while he’s sticking to his plan of saving for his RTW trip slowly, the idea of having the money right now and just going are even more tempting when he’s in his cubicle at work.

So what do you think? Would you take out a loan to travel? Have you done that in the past? Click over to this thread on the BootsnAll boards and leave your two cents’ worth – and sign up for BootsnAll’s RTW travel newsletter. This month’s topic is (conveniently!) budgeting.

Posted by | Comments (6)  | January 22, 2011
Category: Notes from the collective travel mind

6 Responses to “Would you consider taking out loans to travel?”

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  2. Marsha Says:

    I agree wholeheartedly that saving for travel is very much a part of the experience, since the sacrifices made beforehand serve to enhance the adventure. As far as I’m concerned, this also works for short-term travel, opting to save for your trip instead of putting it on a credit card. It’s nice to know that when you return, you don’t have to worry about paying anything off.

  3. Adriano Says:

    My two pence. As of habit, I frown upon the “enjoy now – pay later” philosophy in virtually every sector of life (be it personal, sentimental or professional), travelling included.
    Too risky and, as Rod rightly points out, the journey is a good aim which makes boring/awful jobs easier to bear, when you have that objective in front of you. When you come back from such an adventure, you’ll most certainly feel depressed, and a debt to pay could only make life more difficult, IMO.

  4. Fred Says:

    Well i would have to agree with Adriano in that i too do not see good in the “enjoy now – pay later” philosophy. Although i have just today started my path toward the World travel goal, id rather lose, give away, throw away or earn what i need than barrow from the money lender. Good luck everyone … enjoy

  5. Nicolaï Says:

    Gold is the money of kings,
    Silver is the money of nobility,
    And debt is the money of slaves.

  6. » Planning an Itinerary Around a Budget :: Vagablogging :: Rolf Potts Vagabonding Blog Says:

    […] can’t take a RTW trip? Some have discussed taking out loans in order to travel (a practice frowned upon by Vagablogging readers), but if that’s not an appealing option you aren’t necessarily stuck at […]