If you are consumed by the urge to tear up your roots and go travelling, it can be frustrating when you simply can’t manage to raise the money for travel. A two-week holiday every year might be enjoyable, but it’s not enough when you’ve got the wanderlust.

 

However, if you’re willing to consider alternative options, it is possible to raise money for travel in a variety of ways. Here’s a look at some of the successful ideas that you could try.

 

 

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Ways to Raise Money for Travel

Trade on the Market

 

If you long to be a free-spirited traveller, being a trader on the stock market doesn’t seem like the obvious move. However, you don’t need to acquire a portfolio of stocks and shares to make money from trading. Spread betting trades offer an alternative way to profit, without having to make a complicated investment.

 

Rather than buying assets, spread betting allows you to speculate on the price. You make a prediction and open a trade; if the market moves in the direction you predicted you collect a profit by closing your position. It’s that easy. Spread betting is nothing more than forecasting whether a stock will go up or down, and collecting the difference in price when it does.

 

And that’s the most exciting thing about spread betting: you can also make money when the stock value reduces. Known as “going short,” if you predict that an asset will drop in value, you’ll earn money when it does.

 

For spread betting and related types of trading such as CFDs, you only need an account and a good internet connection to get started. This means that if you need to raise more cash while you’re away, you can even carry on trading on your mobile from overseas.

 

Raise money for travel

 

Coaching or Mentoring

 

Is there something you do that you’re really good at? Better than all your friends and family? Coaching is a way of harnessing those skills and helping other people to develop theirs.

 

It might be a tangible talent, such as being a great artist, but it doesn’t have to be. Perhaps you’re terrific at dishing out life advice or solving problems. With modern technology, you can reach a broad audience, and there will always be people out there who are looking for the skills and knowledge you have.

 

Some people earn a full-time income from coaching or mentoring, and it’s the type of career that you can drop or pick up whenever you want. But even if it’s not your full time job, it’s still a good way to raise money for travel.