a journal on hiking and traveling around the Philippines

Thursday, May 30, 2013

Funding Your Dream Adventure : Save or Loan?

These days, we're encouraged to live life, NOW.  While we're all free to fantasize on journeying to awesome destinations as far as our minds can conjure, a ginormous factor in fulfilling one's dream adventure is paying for it.

For most of us folks in the working class, we’re left with two popular options :  to save or apply for a loan. Options for unsecured loans, also called personal loans are provided by banks and other institutions at varying interest rates.  Heck, I get tons of text messages from these people! While some travelers would advice against loaning for the sake of travel, you are given the freedom to follow your bliss, well, RESPONSIBLY.    

Emotions aside, I don’t see loans as a monstrous thing for as long as you stay on top of your finances and not let your bills pile over your head. Before deciding, I suggest you use an online loan calculator. Some financial institutions have it on their website.  It’s a great tool to know how much interest you will be paying back in exchange for that amount you loaned  just so you can fuel your wanderlust in an instant. It’s also a good way of keeping your feet on the ground and making sure you’re not being delusional and setting yourself up for financial depression.

Saving up on the other hand is a wonderful thing, although it is one that’s personally challenging for someone  as impatient as I am.  You won’t owe anyone a cent and you can frolic listlessly without having to think about bills to pay after. However, waiting time is a factor and quite a pain. But you know what? I am getting the hang of it, especially now that I’ve decided on my priorities in life. How I got to this state of mind was an adventure on its own. I made some financial mistakes, faced it and took responsibility for it. Now, I'm much more at peace and I know that when I pack my bags, I am not going home with an empty pocket. 

At the end of the day, going after your dream adventure boils down to making a thorough decision and committing to it. Remember that you’re doing it for yourself.  Ignore all dramatic factors such as competing for attention, proving your worth, craving for acceptance  or what have you. After all, we only live once so we must live it as happily as we can.  

Save or loan? Up to you, but think and consult (with trusted, knowledgeable people), before you act. :)

1 comment:

  1. "don't spend what you don't have" great motto i am now living by. :) i choose save!


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