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

[JaneOnAJourney]

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!'' )

We take them camping, not mapping ffs!

You never know, you could live in Australia for a couple of years, travel a lot, and still return before you're 30, lucky buggers!

Another go for it from me. You will never get this opportunity again & would regret not doing it. I think option 2 sounds like a great idea, plus you will have the option to stay travelling or come home at that point.

I am with envy, wish I'd done it before being a slave to the mortgage.

But a house and live in it for a bit. Then rent it out and go travelling!

How much have you saved?
Do you rent or live with parents currently?

GO!

But plan and time it right for work opportunities if when you get back.

We did a RTW trip for a year at 24 and it cost us £10k each inc flights and spending. We were back in the uk before heading to Australia to work for 18 months and came home with £90k saved thanks to good tax breaks and fx rates.

You are still young and sounds like you're established in your careers enough to pick back up later.

Go. It was the best thing we ever did. So much fun. DO IT!!

YANBU. My aunty and uncle (both teachers) did exactly this. However, when they came back (a month or so early because DA fell pregnant) they did have to live with my grandmother for a couple of years then they went to teach out in the Northern Territory (more pay) for about five to build up their savings again. They've never regretted it.

bedraggledmumoftwo How much have you got saved?

We have around £35K, should have £39K by August 2014. (exactly enough for a 20% deposit)

Do it. You are both young enough to take up working holiday visas, so you can earn money as you travel. You will be able to save and buy a house when you're older, but having so much freedom while travelling only happens before you hit 31 (sadly)(unless you're filthy rich and don't need to supplement your income).

So yeah. DO IT!

Do it.

Without exception best thing I ever did.

Do it, absolutely. Haven't read the thread (sorry, guilty) - but have you thought about teaching abroad? I'm sure someone's already mentioned this! Also, you can make really good money tutoring British expat kids - sell your UK teaching experience. Has your husband considered looking for policing abroad posts? He can be employed in the UK but work abroad, so they sort visas for you.

Have fun! If you decide to work abroad, then I'd buy at least a flat to rent out before leaving.

Also, I have friends who are currently do a round-the-world trip for a year with their school-age children, and all are loving it. So it's not your last chance! A lot is possible in life if you don't ALWAYS follow the expected path. :)

Follow your dream. You may never get another chance and if you don't, could be thinking if only or what if, for the rest of your natural

Its probably not the most sensible thing to do but life can't always be about being sensible, or you're not really living your potential..

How about going during summer school holidays. Your husband might be able to take unpaid leave. (plus you could do it every year if you're lucky!) Good luck and DO IT.

Hi Jane

Sorry only just caught up on your thread

I've been around boats since I was born, had my captains liecence for ages, bought her and spent 6monthd doing her up and teaching dd the ropes etc, dd was a competent sailor before we left, she's an exceptional strong swimmer and we did emergency drills had back up plans but she is so much more independent since we got back. Think just having the two of us meant she in someways had to grow up a bit I also think it undid a lot of the damage from her father. Women can be strong and rock, we learnt a lot about each other (which I find strange still) we saw some amazing places and had to repair sails, rigging, wrench on the engine, we both became a lot more tolerant of each other - it's amazing how cramp you get in the middle of an ocean in a huge storm! I'm not saying you and your dh will have the same experiences (you definately wont no one ever does) but its not just seeing the world you will discover things about yourselves and each other. As an example we had an accident which laid me up dd bought us into harbour, dropped tha sails and got me medical attention all on her tod and that's something I would never have imagined she was capable of, nor did she think she could do it, but she now says well I did that I can do this. I do point out we were on the way into the habour when it happened but she still accessed the situation, remained calm and acted in the corrected way and did the right things at the right time. We met loads of poeple traveling. people on bikes riding around the world couples doing a month every couple of years, retirees sailing round the cape.. We danced on beaches under starlight and cooked on bonefires. Honesty if you can find a way to do it that works for you, even if its in blocks then do it! I promise you will learn unexpected things and see things you will never have imagined. Do your research everything and be prepared for the unexpected, you won't need half the clothes you think you do, will need more sunscreen than you think, get your visas sorted and have a decent emergency fund and several back up plans. Talk to people that have been to the places you are interested in for the local knowledge, if you have some workable knowledge in 2 or more languages all the better.

To be honest, no I wouldn't spend the full 39K on travelling the world. But I'd spend half of it. Would be a major downer to come to empty bank accounts and the post travel blues.

Do it! I planned and saved for an extensive travel trip with my ex (5years worth of travelling), but ended up settling down with now-DP once we broke up. DP and I plan to travel in 5-10 years time when we have a child or two in tow, really looking forward to it!

I would, in a heartbeat.

You both have professional careers that you can go back to, if you were in different jobs then I wouldnt say go, but yours are a good back up.

I would keep some money back though and get working travel visas so you work your way around the world rather than just have a year long holiday. My friend said that one of the best bits of her gap year (at the age of 32!) was working at the ski resorts in New Zealand, to the point where she almost stayed there!

I am sure that you could do it on half your saving plus work, and then still have the other half of your savings to get you set up again when you get back.

Do it while you're young! Once you get tied down by a mortgage it limits your options. Your school will probably keep your job open for you for one academic year too.

Well done for saving all that money too - impressive!

afraid I'm another one saying don't do it for similar reasons to those above by squoosh

a year goes quickly, money drains even faster, and there's always time to go travelling even when you are settled in a home and have a job.

the job and property markets may change, what you can afford now you may not in the future (other side of coin to this I know, you may be better off if you've kept some savings)

think that relationships can change as well when you go travelling together (again I mean either way, positive as well as negative) so just something to consider.

gosh. sorry, I sound terribly cautious don't I?

Do whatever feels right for you OP, I think it sounds like wild horses won't drag you from doing this

My dh and I did this when we were 30 - gave up our jobs and used our savings to travel for 17 months. Best thing we ever did (although lots of people thought we were crazy). We got working holiday visas for Australia and worked and saved for 4 months before buying a van and exploring the country for 8 months, then hopped over to NZ for a few weeks, then flew to Singapore and made our way back to the UK overland - it was a challenge! I think we managed to do it for around 20,000 pounds backpacking style - we did have to be careful with our money. We arrived home with just 100 pounds to our name, but were lucky to be able to get straight back into work (managed to organise this over email before we got home with previous employers) and started saving for a deposit again.

This was around 15 years ago now - the job market is a bit different now, so guess it depends on how confident you feel about picking up your life again once you get back. I'd do it again in a shot though - I have very happy memories of those months and am so glad we got time to travel in this way before the responsibility of a house and kids. Saying that, we have thought about doing a big trip with the kids before they get much older...

Travelling, meh, overrated. What is that quote about travelling to new places but you take you with you?

DP grew up overseas, me, forces background moved very 6months. Same shit, different view from the window.

Everyone we know, without exception , that left at 25-35 to go travelling could not afford to buy back into where they were before they left. Not one, out of probably 30 couples (mostly very able, some slackers )

Either

A) Put down a deposit on a house, rent in your absence, travel on a shoestring and work while you travel.
B) Spend it all travelling and then can't get a deposit as a first time buyer as house prices are rising beyond inflation and you can't get back into property market
C) Do the establishing career, have little children, relentless nose to the grindstone for years and years, and years and then, when you are all older do the travelling together with kids, and have a house to come back to, presuming you are lucky enough to have kids when you plan them.

There is no right answer. Your choice. Just don't go to some Fleet Street rag bemoaning the cost of housing. If you can afford to save for a deposit, and chose travel, you can afford to pay for a deposit on a house.

jane I have this strong belief that some people have the travel bug and some don't... I do think if you are both contemplating travelling to such a signifcant extent, rather than some passing fancy; you will regret not travelling in the future. i think travelling is that regret that burns inside you.

You are great savers, I'd seriously do it. I wouldn't throw all your money at it. I Amy even contemplate trying to love rent-free (with parents etc for a few months for the final push to save. You can save about 10 grand a year, right? Could you wait til the finish of the school year 2015? Get your visas etc. spend a very excited year planning, and then go.

I am balancing my very sensible hat with the part of me that has spent a lot of time travelling and working overseas.... I even still live away from home and still do not tire of it

If you've got the itch, you've got to scratch it! Its not going to go away but the chance might. Do it now, send us a postcard!