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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

WIBU to quit my job & use my house deposit savings to travel the world for a year??

149 replies

JaneOnAJourney · 16/04/2014 18:41

NCed for anonymity :-)

I am 25 and my DH is 28, we both work in averagely paid jobs (me as a teacher, him as a police officer) but have managed to save up a good amount that we were intending to use as a house deposit, this amount is also enough for 2 people to travel the world for 12-15 months.

We've been bitten by a travel bug and we've both got itchy feet, I really want to have an adventure and have amazing stories to tell my grandchildren and just explore the world.

After university we never really traveled beyond the odd skiing trip or city breaks as I had a 2nd job every other weekend and DH worked long shifts (and still does) so we haven't found the time for it.

I know that if we don't do this while we're in our 20s and childfree, the next chance we'll have to do it is in our 50s when our (future) children have left home, there is no guarantee that we'll even be alive or have our health then, and I would sorely regret not taking a chance and following our dreams.

Travel is DH and I's biggest dream and passion.

So, MN- in this position would you do the sensible thing and buy a home or would you take a leap into the unknown?

(MIL's opinion when I tentatively broached the subject with her was ''why waste all your hard work saving on a year long jolly?'' My mother is saying ''what's stopping you! Go!'' )

OP posts:
HaroldLloyd · 16/04/2014 19:36

I would go but try to work things so I still had a fair amount of savings to come back too.

Working for some of it perhaps.

You got to go though.

DO IT.

ICanSeeTheSun · 16/04/2014 19:38

You are a teacher, so teach as you are travelling.

ICanSeeTheSun · 16/04/2014 19:41

www.anyworkanywhere.com/gap360.html

Creamycoolerwithcream · 16/04/2014 19:41

Another perspective from a fellow travelholiic. I got the house had the DC and then did lots of trips as a family. I disagree that you will be in your 50's before you get the chance again. I've taken my DC to south Africa, South America, many Caribbean islands, california, Asia, Baltics, Egypt, Mexico and many more places and had amazing adventures and then returned home to the security of a lovely home. OP your plan sounds fab but I just wanted to point out you can still see so much with DC.

smartypants1000 · 16/04/2014 19:46

I'd hate to go travelling, I'm a home body - but my dh did this before we met. In a way I wish he'd saved the money for a house deposit, but in another way I'm glad he got it out of his system before he met me! I think he'd always have regretted it if he hadn't seen the world.

ParkingFred · 16/04/2014 19:50

I would say, if you can afford it - don't work.

We budgeted, lived frugally and managed to spend only 22k (not including flights, obv). Mind you, this was almost 20 years ago!

We stayed in cheapo places and splashed out on things that mattered, like scuba diving, adventure sports in NZ, things like whale watching etc. We even bought a car in Australia and sold it when we left.

GnomeDePlume · 16/04/2014 19:52

Can either of you take part in exchange programs? I have heard that the fire service have exchange arrangements, do the police?

We went to live abroad for a few years. IMO just travelling only gives one view of a country. Living, working, raising a family in a country gives a much better sense of that country than just being a tourist.

Doing your jobs abroad will add to your CVs. Just travelling around doing casual work will be far less of an asset.

halfdrunktea · 16/04/2014 19:52

I would say go for it. If you have children you'll be grounded for years; even if you are brave enough to take them on adventurous holidays when they're older you probably won't be able to go for more than two weeks.
I met quite a few people who'd taken a year out of work to travel the world on my previous travels.
Perhaps to retain some savings for a deposit you could work whilst travelling or not go for so long? You are both still young enough to get the working holiday visa.
It sounds like your careers are the sort where you could get back into the workplace quite easily when you get back.

lessonsintightropes · 16/04/2014 19:54

I like the idea someone else posted upthread of buying a buy to let for some security, then saving up some more and going for as long as you like. The best of both worlds. Do it! I never regretted selling my house and moving to South America for a year. And the job I did abroad helped with my career when coming back, too, so it might be worth travelling for 6 months then working for a year somewhere for a real taste of life away.

C0smos · 16/04/2014 19:58

I did it when I was 21 - no regrets and had a great time. Then did it again when I was 30 - great time again.
I'm nearly 40 so should go again, but now have 2 kids and a mortgage so unlikely. I did end up living in Africa though so at least I can nip to the coast for a weekend at the beach.

Saurus72 · 16/04/2014 19:58

I worked overseas for 18 months when I was a similar age to you and it is one of the best things I have ever done - it changes your outlook on life and great things happened as a result. Some things to think about (which others have also said):

  1. How about travelling first, for say 3 months, then settling in one place for a while to work. I think it depends on what you are looking for - what I loved about working abroad, as opposed to travelling, is that I had a whole new life - new job, apartment, car, amazing friends, boyfriend (now my DH) - for a while. It was fantastic.
  1. Another option could be to work for another year, save like ninjas, so that you can travel, but still have some funds to come back to. For me, that would be a lot more doable and less sole destroying than spending everything and coming back to nothing. I found it quite hard to adjust to coming back to this country when my visa ended (you realise just how much the weather really does suck here!), so to have a nice plan for when you get back - buying somewhere to live - may help cushion the blow. You would also have a nice time planning for your travels, which will get you through the next year.
  1. I have seen, amongst friends and colleagues, that you can't plan forever, as and I'm sorry to be morbid, sometimes things happen that mean that time doesn't come, so definitely go! Plus, you will have a totally different experience when you're in your twenties - you may even decide to emigrate permanently and have a totally different life! And lastly, you may be lucky enough to be in a position to travel again when you're older.

Good luck, it will be fabulous!

nocheeseinhouse · 16/04/2014 20:09

Go, life is very short, and shrouds have no pockets.

foslady · 16/04/2014 20:16

Please do it - I would have loved to have travelled

AmericasTorturedBrow · 16/04/2014 20:26

DO IT!! I seriously wish we had as travel is one Of my biggest passions but we had DC at the age you are now then DH got going with his career and doesn't want to bow out for a year - I would cash it all in and take the DC tomorrow if we could.

Seriously, it is possible to resave again when you get back - go!!

Stripeyshoes · 16/04/2014 20:30

What about teaching overseas for a bit? Then you wouldn't have to deplete all your savings - but would still get the chance to travel. Dh and I are teachers, have lived overseas for the past few years, dd2 was born here and we have lots of opps to travel. Check out the TES website - there are tons of jobs out there.

thatstoast · 16/04/2014 20:35

I'm really surprised at the number of people telling you to go for it but I would guess that they already own their own homes. This is your financial future, blowing all your savings and your income stream is a massive risk. How hard will it be to find new jobs when you return? How long will it take to save up again for a deposit? How much will house prices have risen by? Would you be happy ttc while renting? I was happy to rent for years but when I started to think about children it really hit me how important the security of home ownership is.

If it were me I would plan two trips, one to your dream destination and one to your husband's. You'll satisfy your itchy feet, have stories to tell and still be on track to buy. Smile

Original poster
JaneOnAJourney · 16/04/2014 20:40

Thank you all for your opinions and advice, lots to think about, there seem to be a few different ways of going about this:

  1. just go + spend the lot, you only live once and you can always save up again
  1. Spend 50% of deposit savings but only go for 6-ish months, that way you will have traveled, but will retain half your savings
  1. Buy a house, find 2-3 renters to cover mortgage and more and then go for the full year (how will this one work if we've spent our savings on a house, furnishing the house + all other costs that come with being a landlord?)
  1. Travel for a few months then move & begin working abroad with work visa.

So far option 2 is the most appealing to us, best of both worlds in a way Smile

OP posts:
msrisotto · 16/04/2014 20:47

I'd go with option 2 as well. I travelled for 5 months before uni and didn't feel like I was missing out on the full year, I felt like I had properly been travelling and it was an experience I'll never forget. Is till intend to live and work abroad at some point too.

Original poster
JaneOnAJourney · 16/04/2014 20:47

Histripeyshoes Would you mind if I PM'ed you about your experience teaching overseas?

thatstoast a lot of valid practical points there. It would be easy-ish to find new jobs again based on our experiences moving to different cities in the UK and finding jobs quite quickly.

If we left for only 6 months and spent only half our deposit money, it would take another 2 years to have the same amount again, I don't think that is too bad. Our rent is small as we rent from one of DH's friend and get mates rates. I'm unsure how much house prices will have risen in 3 years though.

OP posts:
specialsubject · 16/04/2014 21:17

I've been lucky enough to have a lot of long holidays, interspersed with work. Six months travel, six months in one place is a great mix - stops you getting jaded which I've seen happen to those on the move for too long.

go for it.

WilsonFrickett · 16/04/2014 21:26

I honestly don't think 3 will work for you - as you say, you will spend all your cash on the house, you probably will be paying extra on your rate to get a buy to let mortgage, agency fees will take a cut out of it, etc etc. If you already had a house then that would be a good option, but as you don't...

SuzzieScotland · 16/04/2014 21:28

Get traveling done before getting tied down with a mortgage.

In Asia you can easily live well on 200-300 a month, just stay there and not blow everything.

FiscalCliffRocksThisTown · 16/04/2014 21:30

We found a job abroad , and lived abroad in different countries for 8 yrs when we were your age. Our kids were born in Guatemala.

IMO, living abroad and getting to know a country is more exciting than travel, where you get tired of not having a " base".

But if you like travel, travel!

bedraggledmumoftwo · 16/04/2014 21:32

How much have you got saved? We did it for a year 8 years ago and only spent £10k. Depending on your working plans i would say stick to cheaper places unless you are working there- we spent much more in Oz/NZ than we did in Africa and south America.

obviously costs may have risen dramatically since we went, but more likely in the developed countries.

imip · 16/04/2014 21:33

Another do it, here...

I'm an Australian, but have lived in london for the past 11 years...

I have travelled quite a lot, always in v. Shoe string budgets but have seen some amazing places. I'm so very glad to have travelled. Even now in summer, we ( dh australian also) take the dds mapping in France, and it is very exotic for us!

I didn't travel in a back packing sense til I was 28 after a very long relationship breakup, but I was sooo envious of people who had travelled. before I left, I had a very modest house deposit, I went for a year to Europe and then back home and brought a v. Small one br flat. Then three years later I met dh and did it all again!

I would, however, be sensible and I would try to do it quite cheaply. I wouldn't drink all the time, I'd stay in hostels etc etc. I would be of the take 50% of the deposit and keep the other half for when you return. I'd also try to work in Australia to fund the trip, and just for the experience.

Such a wonderful time in your lives, it is there to enjoy! I think it is easier to do now than in your 50s when you may want your creature comforts etc.

Could you even give yourself 12 months to really knuckle down on savings and then go?

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