25k loan to go travelling

backinbusiness

Aw bless - it's a lovely dream, but that's all it is OP, sorry.

Save up - don't saddle yourself with debt for 7 years. You might be ready to settle down and have a family, buy a house then - situations change.

From one who is ol' and wis'

BiB

27col

For £25,000 you could go on a Round the World Cruise in a luxury liner.

MonkeyMad

Wutang wrote: »

OP is youn and stupi, don't forget.

I think you will find the modern vernacular is naive and vulnerable.

I wonder if he was planning on telling the Aus immigration control he was going to get a job when he was inevitably spent up?

s_b

i would lend him the money but my heads just fallen off:D

rainbowfairydust

Yes its a stupid idea. I saved up for 2 years to fund my year travelling round australia/new zealand . I spent all of it pretty quickly (had around £3k saved) , i then found several jobs and the money that i earnt got spent pretty quickly as well.

I felt proud of the fact that i saved hard to get there, and then proud of myself for supporting myself whilst there. Because of my savings, and working my way around the country(the only place i didnt see much of was south australia/tasmania) i had an amazing time , and did some amazing things when i was there but the best thing of all was that i came back DEBT FREE.

Why would you want £25k hanging over you? If you want it bad enough then SAVE up rather than taking a loan. I wish people would realise that the world doesnt owe them a living.

dealer_wins

Fast forward a couple of years to the OP stating "how can the bank have lent me £25K in my situation, I was mis-sold it"

Caz3121

JoshBee25 wrote: »

I was offered 25k when I got my loan... But took what I needed, so not really

really?....In your other post you earn around £15k...which would normally mean a max of £7.5k

reallyAnnoyed_2

Oh interesting! *popcorns*

RuthnJasper

Save up. As someone who had £28k debt and is now in my penultimate year of an IVA, DO NOT put yourself in these circumstances unless you have to.

One of my colleagues and his g/f sold everything they had and quit their jobs to go travelling for a year. They got as far as Bangkok, decided they hated it, and spent the rest of the year living in an old bus on an Aussie beach, trying to dodge the police/coastal rangers. Then they had to return to literally NOTHING. My colleague was, fortunately for him, successful in begging for his job back but his wife wasn't. They had to restart their lives from scratch in their mid-twenties, with the disappointment of the realities of their "dream trip".

If you aren't capable of thinking sensibly about the consequences of your plans, OP, you will get into serious trouble in countries where they are less tolerant of stupi-ity... And probably also an interesting "social" disease.

Why don't you do a few European countries by train first and see how you get on? Then, at least, if you don't like it you won't be on the other side of the planet and £25k in debt.

Blue_Elephant

If you can afford 350pcm repayments and aren't going for 2 years, if you save that money now you'll have 8.5k ish in that time. Cut back on everything else, post an SOA for ideas, and you'll be able to save even more. If you're planning to go to Australia, New Zealand or Canada you can get working holiday visas for these countries, and some of the best mates you'll make are the ones you'll work with while "making ends meet" and some of the best experiences will be because you chose the cheap option - they get all the best people :P And do your research, stay in hostels and buy a tent when you get there, that will save you a fortune.

Also, what happens when you get back and can't find a job? How will you make the repayments?

Yes, you're only young once and it's good to have dreams. And it's brilliant to make those dreams come true. No one is saying otherwise, but there is no need to mess up your financial future doing it.