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.
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.
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.
Take in a Lodger
If you’ve got your own home, you’ve probably got extra rooms that are just filled up with clutter. By being ruthless and having a clear-out, you could free up that space to take in a lodger.
Not many people think about renting out their home, but it’s an easy way of earning money for minimal effort. As an added bonus, when you do leave for your travels, you’ll have the benefit of knowing there’s someone you can trust in your home looking after everything!
Sell Your Travel Photos
Here’s a great idea on how to raise money for travel, be self-sustainable, AND do what you actually love. Sell you travel photos to Getty Images or Shutterstock!
All you need to do is get a decent camera for your next trip. If you’re a traveller by heart, the chances are you have an eye for photography, so you won’t need any special training (you can find amazing photography tips and classes online).
While you’re on the road simply take as many breathtaking photos as possible. If you’re not sure what the subject of your photos should be, simply browse through the above mentioned websites and see what the market needs at the moment.
If you’re not feeling adventurous or certain of the image qualities you can produce, a good advice is to play it safe by taking portraits of local people and food – these types of images are always in very high demand.
Don’t get discouraged if you don’t succeed on the first attempt, because practice makes perfect indeed. Out of 100 photos you take, about 10 will be sellable, so keep yourself busy.
When you are happy with your results, it´s time to get exposure and start selling your stock images. Here’s a list of websites where you can apply as a contributor:
4. Getty Images
7. Envato PhotoDune
10. Adobe Stock
Now remember, you won’t become rich over night by selling photos online. BUT, if you become a regular contributor with at least 3 websites, your passive income which you will accumulate over time will give you the opportunity to fund or at least co-fund your next trip where you can take some more beautiful pictures.
Ideally, you will take all the advice we have given you about how to raise money for travel, so you can finally start that trip around the globe you always dreamed about!