Tax Return for Travelling the World?

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  1. #1
    Timeman is offline Member
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    Cool Tax Return for Travelling the World?

    This is my first post on L4P so please bear with me,

    Long story short, I have the opportunity to travel Europe this upcoming June with an old high school crush/Slovakian model that moved back to her home country of Slovakia. She stated that I would need $1500 to last a month and we would travel to all major tourist destinations during the 4 weeks vacation. $1000 for the plane ticket, and $500 for hostels, train ticket, and cheap food. Backpacking on a budget. The reason why I am posting is that I am not used to spending that type of money on myself because I am a college student living off of chicken and eggs lol. I always receive about $2k a year back from taxes and I could essentially put that money into this Europe trip. I am torn because I am unsure if I should put that $2k into my savings account for an emergency and put myself ahead financially for the upcoming school year, or if I should use the money on myself and travel to another continent for a month. I am currently 20 years old living in a tourist town in Idaho, so this would be a learning experience for me also. I know $2k doesn't sound like much to the people on this forum, but I figured that most of you have travelled the world at some point, and would be able to provide some input on if it is worth it at this time of my life. I am not posting for you all to act like parents holding my hand on which decision to make, but instead I would like to hear on your own life experiences that have come from travelling. So let me ask you this.....As a college student where every quarter counts, should I save or travel?

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    MasterWhite is offline Senior Member
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    Let me ask you this, what are you studying?

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    LINDW4LL is offline Senior Member
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    You can always make more money. This sounds like a great opportunity. Don't pass it up.

    I am HIGHLY skeptical that $500 is enough to travel Europe for 4 weeks though, and that's assuming $1000 for airfare... I went on Kayak and the cheapest flight to Slovakia from CHI or NY on your dates is $1,426.
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    Quote Originally Posted by Timeman View Post
    with an old high school crush/Slovakian model that moved back to her home country of Slovakia
    I would say go for it. At least I would go.

    P.S. I have been to Slovakia and slovakian girls are so pretty.
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    op487062 is offline Senior Member
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    The only regret I have about traveling is not doing earlier. There is a lot to be gained when you experience different cultures that don't translate to schoolwork or grades. For one, It teaches you how to relate to others that aren't of the same mindset (like your college mates) in a potentially uncomfortable environment.

    If you can do it without going into debt, I would highly suggest going. But you should also consider most people go over budget when they travel unless it's at an all-inclusive resort. (I think I spent double what I planned last month going to London/Paris )
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    1. TRAVEL!

    2. You'll need more than $500 USD for 4 weeks in Europe. $500USD = $400EUR. Therefore 100EUR/week. Typically spend 20EUR/day on food + 50EUR/night at a hostel. You're already at 490EUR/week for basic needs. Now add in shopping, trains, emergency expenses, etc.
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    Quote Originally Posted by op487062 View Post
    (I think I spent double what I planned last month going to London/Paris )
    Paris has its own magical way of making you want to spend your money :P London too , especially during Christmas.

    I was in Paris and London last Christmas and even though I didnt really bought anything, I ended up spending a lot as I couldnt resist on their restaurants which are wonderfull but utterly expensive too.
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    Timeman is offline Member
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    Thank you all for the input, you all are giving me insight at angles haven't thought of.
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    Quote Originally Posted by MasterWhite View Post
    Let me ask you this, what are you studying?
    I am a Criminal Justice major in my third year, with extremely low debt from student loans so far.
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    One of the rare exceptions where I would possibly say just go for it. Sometimes, you have to live a little.

    HOWEVER, 1. Is $2,000 the absolute most money you can/will take? Traveling is often like building a house/business/etc.--always takes more money and effort than expected. Plan for it. 2. Is your desire for this specific trip stronger than your desire to take the $2,000 and turn it into something more? Only a question you can answer. There were many times when I was younger that I had enough money to buy things I really wanted; instead, I perpetually reinvested in hopes that I'd be able to enjoy those things for much longer than just a short stint. Can the $2,000 help put you in a position to travel more often, if you invested in yourself (business/etc.)?

    Enjoy yourself, either way.

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