How to Save for Your Big Lap Before You Leave
When it comes to a big lap of Australia, two questions come up all the time: where are you going, and what van are you taking? But the one we get asked more than any other is how do we actually afford it. It’s a fair question. We’re fortunate, but we don’t earn anything above an average income, and we still made it work.
There’s no single right way to fund a lap of Australia. Most families we’ve met end up doing more than one of the things below, mixed together to suit their own situation. Grab a pen and paper, work through them, and see what genuinely fits your family.
– One thing worth sorting alongside your savings plan: AllClear Travel Insurance
There’s No Right or Wrong Way to Do This
Whilst we want to recognise we’re fortunate in life, we don’t think we’ve got anything above an average income. Many families end up doing multiple of the things on this list, not just one. There’s no right or wrong way of doing it, so don’t feel like you have to pick a single method and stick to it.
Save Up Before You Leave
This is probably the way most people travel around Australia, because you know you’ve got a set amount of money and you know it has to last however many months you’d like to travel. The catch is working out how much you actually need. Without that number, you’re just saving up endlessly, and that never really works.
Once you know your number, a lot of people put a fixed amount away each week, whether that’s $50, $100, or whatever you can manage without stretching the budget too much (we know living expenses are pretty horrible at the moment). If working it out strategically means pushing your departure back another year, that’s what you need to do to keep everything comfortable.
Talk to Your Boss About Leave Options
There are a few other ways to build up your pool of money that are easy to overlook. Have a chat with your boss about taking your holiday pay, or ask whether your company offers holiday pay at something like half rate, which stretches it twice as long. Depending on how long you’ve been there and what state you’re in, you might also be able to take out annual leave or long service leave.
You never know what’s possible until you ask. It’s worth the question.
Sell What You Don’t Need
If you’re renting out or moving out of your house, you don’t want to be storing a whole pile of stuff you probably picked up secondhand off Marketplace. Selling what you can genuinely do without boosts your trip budget, and you don’t have to find somewhere to store it while you’re away.
Consider Renting Out Your House
A lot of families rent their house out while they travel, either fully managed through an agent or as an Airbnb. Do your own research on this one. There are traps with both approaches worth understanding properly before you commit (we might cover this in more detail in a future video).
Have a look at your super too, depending on your age. That’s not our strong point, so don’t quote us on it. Have a proper chat with a financial advisor about what might be possible there.
Trim Your Everyday Living Expenses
Have a look at your living expenses and see where you can tweak the budget. Instead of eating out once a week, for example, that $100 could go straight into a savings account as your holiday money. You’ll be surprised how much it adds up just by swapping over a few simple things.
Have an open conversation with your family about what might work for you. That’s really the starting point for all of this.
👉For all your Caravan and Camping Gear as you get ready to go: Shop Caravan RV Camping before you hit the road!
Our Thoughts
Saving up the full amount before you leave is only one path. A lot of families do a mix of what’s on this list, and there’s no shame in adjusting your timeline to make it work comfortably rather than rushing it. We’ve also put together a spreadsheet that helps work out exactly what you need to save for, which we mention in the video this post is based on.
👉If you want to work out your own real weekly number, our Big Lap budget calculator can help. Check it out here.
