4 Tips for Funding Your Sabbatical

By Jessica Socheski, 17 April, 2014

Ways to help you afford to take the time you need

We all need a break every once in a while. Whether that means doing nothing but sitting on the beach and drinking margaritas for a year, or you want time to finally finish that novel you have been working on for so long, taking a short vacation is sometimes just not enough.

You want to be able to take time off to accomplish your goals without going into debt and sacrificing your current lifestyle to do it. This may sound like an unreachable dream, but you can make your sabbatical a reality. Use this list of tips to help you fund your sabbatical and make your goals happen.

Use your employer’s resources

Negotiate this with your employer before you make any plans. Make sure that you can not only have the time off, but that you will receive some sort of assistance while you are away. Lucky people will be able to get full pay and benefits, but most are not so lucky.

Negotiate to have at least your health insurance covered while you are away. This will not only take care of some of your expenses, but also keep you in good standing with your employer, so you know you have your job waiting for you when you return.

Find extra money without dipping into your investments

Keeping your money in your investments is crucial for your future. Not only will you have more money later if you don’t use the money now, but you will also have the security of knowing that your financial future is on the right track. Use resources, like InstaLoan, to get cash fast without creating extra debt.

Get rid of unnecessary items and expenses

There are a lot of material items that we collect in a lifetime that we really don’t need to survive. Take a good inventory of all of the junk you have. What will you really need during and after your sabbatical? What can you sell now and replace after you return from your sabbatical?

You can use this opportunity to not only purge the junk from your life, but also to make some extra money. Sell everything that you will not need now for your time on sabbatical. Rent out your home, sell your car and buy a new one when you return. You will be surprise to see how much excess you have in your life, and how little you really need to live comfortably.

Use your skills to make money while on sabbatical

Taking a break from your day job doesn’t mean that you can’t do anything to make money while you are on sabbatical. If you are taking time out to write a book, do some online freelance writing in your spare time to make a little extra cash to hold you over until you return. Find a niche that will help you gain experience, do what you enjoy doing and not add to your stress while on sabbatical.



Image: http://thegreatwhitedope.com/the-great-white-sabbatical-part-iii-live-free-or-sabbatical-hard/