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Long Term Travel

December 2, 2008

“Long Term Travel Fund” is my newest addition to my obsession with dividing up my savings into detailed subcategories.  I already have a Travel Fund, and it goes towards hiking trips, any vacations, weddings, and trips home (~$500 around christmas time).  It runs me $100-$200/mo just to keep that afloat, but it may go down a little next year (I don’t intend on spending $1500 on backpacking gear and billing it to travel) .  But this is for a different sort of travel.

Once we are done with L.A. (either when he is done with his PhD, or perhaps a little later), we want to move abroad. The place is TBD, likely either Europe or Asia (most job opportunities).  I’m not sure if my company has international opportunities for me, but T shouldn’t have any trouble finding a job right away.  Before we settle somewhere, we’ll have a perfect chance to take a several week (month?) trip to other places we’ve never been, ideally far away from the place we plan to settle for awhile.  We’ll need some yet-to-be determined amount of money ready to be spent.  The more $$, the longer the trip will be.  And once that is over, we’ll start growing it again for some new adventure.

The idea is to have this cash in addition to a full Efund ($15k+), healthy retirement accounts, and some sort of additional cushion for getting settled in a new location.  I’ll work out the numbers next year when certain things are figured out.

I’ve had this fund in mind ever since I sketched out my Dream Budget (which will be enacted, with adjustments, sometime early next year!).  I’ll make my first contribution to it either this month or next month, as I’m scheduled to hit my Efund goal this month. EXCITED!

Maybe I should name it something more interesting, like Well Heeled’s “You only live once” fund.  I’ll take suggestions!

8 Comments leave one →
  1. December 2, 2008 12:23 pm

    I have similar plans with my BF, but we would like to move to the US, in about two, two and a half years, and stay and work there for about 3 years. I wonder if we’ll all end up following our dreams… (since I DO believe that we are capable of stacking our pennies!). We have back-up plans if we have trouble getting a visa: Singapore, Hong Kong… the limit is your mind!

  2. December 2, 2008 7:11 pm

    Very nice post. Sounds like you’re already halfway out the door. I want to go to Asia also to work (first India, then China), but I’m still saving up my Benjamins here. Too bad there’s no way to make the longer term travel a regular thing instead of one time. Maybe become an English teacher somewhere and get the summers off. 🙂

  3. December 2, 2008 7:21 pm

    @Alice – It is fun to dream about these things, and even more fun once we make them come true!

    @Frugal Bachelor – halfway out the door mentally, but we’ve got… at least 2.5 years. And that pesky job detail… English teaching might be a real option. At the same time I have all these technical skills and training, which pays well (and maybe I’m a bad teacher). It’d be a shame not to use them. If we are in an English speaking country…. Hmm… well I’ve got awhile to figure that out.

  4. December 3, 2008 10:40 am

    I had this dream about living in Europe for a few years, but I’m finding now that I want to be closer to my family. Traveling (always during peak travel times, naturally) is inconvenient & expensive. I’m hoping I can get some good travel in and hopefully that will satisfy my expat lust.

  5. December 3, 2008 12:37 pm

    @PA – that is a good point. There aren’t many (interesting) jobs near my family, but even California is closer than abroad

  6. December 3, 2008 1:38 pm

    Hm, my family’s experience has been that the technically talented and skilled have found more opportunities to travel and work abroad than the rest of us. It must be pretty cool that you and T both want to live abroad for a period of time. I need to date someone younger who still has that sense of adventure. 😉

    You know what would be cool? Going abroad and partaking of a language learning environment. Maybe you’ve already got the basics of another language down, but I have this older divorcee friend who has been going to Europe every year and spending 3 months in a language institute honing her skills, and will be able to teach English+another language soon.

  7. El Cheapo permalink
    December 5, 2008 2:00 am

    Its awesome that you’re being more detailed with the budget/saving, that’s something I need to get through my thick head! I tend to lump a lot of my cash savings together and not delineate exactly where each of the dollars are going.

  8. December 5, 2008 8:12 am

    @El cheapo – I think that is common. In reality, something could come up and that money would be used for something else… but it is more meaningful to me to set goals for it.

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