Recent grad.- travel or save?

[richinspirits]

i vote for going! i went to europe several times in high school and college. i was so excited when i started working...i thought the money i would be making meant that i would be able to go all the time. well, with only 10 days a year in vacation for the first 5 years of employment, it is hard to make it over there and have any time off left for the rest of the year! it sounds like now is the perfect time to go.

i also think $3000 sounds quite reasonable. i was just looking airfares and saw some for as low as $450 roundtrip. food is not expensive...if you eat in restaurants, maybe, but if you just go to the supermarket for food most of the time and have a few meals out, it's not a large expense at all. i think seeing the different foods in the supermarkets is a great experience.

also, it has been a few years, but i stayed in hostels for very little over there. my two friends and i stayed in a place in southern spain for $8 per person per night! a gorgeous building, all tiled with a lovely courtyard through the center. we had our own room and didn't have to share with strangers. you just have to do a little research to find the inexpensive places.

[TBH]

I agree with lifeisgood.

I love traveling. Love love love it. Now I travel to take my small son to see his grandparents. Luckily I have a brother in Europe, so I did go there a year ago, but even tho we have a free place to stay and usually only eat 1 or 2 restaurant meals the whole time, the plane fare is too expensive for us to go very often. Now that I'm part of a 3-person family unit, the plane fare alone can cost almost $3000 during school vacations when we're forced to do most of our traveling.

I would say you should go as long as you are very clear that this is your last hurrah. No going to Europe next year too because "it's a great opportunity". Your friends going might seem like a great opportunity, but I think the real thing about this trip that you won't get back again is that you have no kids, and no job with limited vacation time.

Go to Europe, but then come home and knuckle down and live like a monk until you have your financial feet under you.

[want2savebad]

I just wonder what your degree is in? Also what is your interest rate? I am a teacher, and with the salary I recieve, no vacation in the world would be worth the sleepless nights, not to mention years I would spend paying back the loans. The $3,000 could very well be the difference in having transportation to and from work, rent or other necessities. I say this, having been very young when I graduated from college, twenty as a matter of fact, and knowing how you are feeling. I understand why you want the experience, but honestly, having gone on vacations while broke and not having the money to do things like eat out or participate in other activities my friends were engaged in, it was much more fun when I went on vacations later when I was more financially prepared. Also, I didn't have to worry about how I was going to pay for things as I paid for it all with cash and there was no future worries about years of paying for it down the road. You do what your heart tells you and if your career is one in which finances will not be much of a concern later, I say go for it.

[bishop]

You know, I did some of the same things, using the same rational, when I was fresh out of college (though I didn't go to Europe). Looking back in hindsight, I
wish I had not, and rather saved my money. I even had $32,000 cash in the bank, right out of school, and I paid off my loans, and was debt free, and still had $20K left...and I blew it all. I look back now and wish i had invested that money instead, and stayed out of debt (I went right back in, and I am still paying it off, 8 years later - I've learned my lesson this time). I assume with the real low interest rate you get on a student loan, you could actually make some money by taking the loan and putting it into a MMA or high yield savings account...use that little bit of interest to help pay off your debts, or save to go to Europe, when you can pay for it without going into debt. Just my $0.02.

[Russ G]

Take the opportunity to travel while you are young and unemcumbered. You can have a great time in Europe on a low budget if you do some research try lonely planet and don't spend too much time in the big cities...southern europe is generally a lot cheaper - go for it!

[snafu]

Another vote for travel ! I presume you're mature enough to avoid turning it into memories of drunken shenanigans. The addeded benefit is going with friends who have been there. My caveat would be to do serious research in the meanwhile so you get to places that follow your interests.

[sweeps]

This thread scares me.

OP wants to use a student loan -- perhaps his only source of money for more than a year -- to go on a trip and everyone's okay with it because "he deserves it" and "you're only young once" and "it's only $3,000".

Travel is a worthwhile goal, but it is a luxury. You travel when you have the money to afford it. In this case there isn't even the future expectation of money to be there. Did I stumble onto the wrong web site today?

[Broken Arrow]

I won't say "Don't go". However, one of the only guarantees in college is that, no matter how it ends up, if you took out student loans, you'll still have to pay for that later. I know. I'm a living testament to what happens when you use it to pay for your wants.

[Joan.of.the.Arch]

Strictly speaking, it is probably not even legal to use student loan money to fund a vacation. Perhaps if it is a totally private student loan it is within the terms, I don't know. But if it is government backed--I'm skeptical.

However, I am all in favor of travel!

Have you scoured the possibilities of finding an internship in Europe? I know my son's major expects undergrads to do summer internships. They are most often paid and available all over the world, including Europe.

[project15]

Another vote for NOT going. Graduate college, get a job...in 3 years, you'll be more financially stable and have vacation time at your new job to take 2-3 weeks off for traveling. Just because you get a real job and have to pay rent doesn't mean you won't have money. In fact, you'll have a lot more money than you do right now in college.

I feel like the newbies to this site are voting for yes and the majority of the people that have been here are voting no.

[project15]

Have you scoured the possibilities of finding an internship in Europe? I know my son's major expects undergrads to do summer internships. They are most often paid and available all over the world, including Europe.

My friend went to teach english in prague for a year and loved it. Maybe the OP should look into this? My friend traveled around europe all the time.

[jk123]

I have made a decision: no go for now.
"want2savebad"'s message resonated with me...I really don't want to be kept up thinking about finances and how I should have saved instead of travelled. Even my boyfriend encouraged me to go; however his financial situation is different and I don't think he understands where I am right now. And my parents have never led me to a decision that was a mistake. I know they think this is the more responsbile, mature choice and they said they may be willing to help out more in the future because of this choice. Of course I'm sad right now and REALLY want to go still, and my friends wish I was going with them. But it's probably one of THE worst times the opportunity can arise..epecially with this 1 year long nonpaid internship coming up, while I still will be paying rent etc..so it really is important to spend the entire summer time making all the money I can before the internship starts. So I believe the chance will come again. I'm not getting married any time TOO soon and still want to experience other places in the world before I settle down anyway. So, it is probably the wiser (not more fun) choice. I will set this as a life goal for myself

[project15]

Great choice!!! You will have so many opportunities in life to do things. You may be sad now, but that's life and other enjoyable things will come along for you to partake in.

[NCmom]

Go for it

My 2 cents is to go for it. If you go the marriage, kids, house route, it is not as easy to do those things. You won't want to look back and say I should have.... OOps, I didn't see your final decision, but just don't wait too long, it gets harder when you are settled with little kids.

[anonymous_saver]

Sorry to say it, but I'd say no way.

You don't have the money for it as you have debt, wait until you have a steady job and then save up for a trip like this.

Good job on finishing grad school, I know I was proud of myself when I did!