Year Out £9k Challenge

rubyraquelle

Hey!

I've never posted on this forum before and never really spoken about my finances to...anyone really. But I'm hoping to save around £9,000 by Jan 2014 (ambitious I know!) to head out to Hong Kong for a year and work with a missions organisation and I don't know if I'll keep my motivation if I don't keep track somewhere!!

Bit about me - I'm 22, just graduated from uni and so have a student loan - which luckily I don't need to pay off yet and seeing as I'll be in HK and volunteering I won't need to start paying it off until I get back at least! No other debts which I am immensely grateful for. I applied to this program back in Feb and got accepted and overall it's just over £8,000 for accommodation, food, visas, any flights to different countries etc. I have to pay for my flights there and back and I'd like to save a little more for emergencies/any extras that might pop up.

So far...I have just under £3,000 saved from previous savings, birthday money and I have a full time job now which pays just over £1,000 a month meaning I will definitely have at least £7,000 as I don't really have any costs (living with parents and paying £80 a month keep/have basically taken over running the house!!) and so most of that goes into my savings. But I need to somehow find an extra £2,000...

My parents travel a lot for work and so my flight to HK is sorted - handy air miles meant the rest of it was given to me as my birthday present I also haven't budgeted in vaccinations or buying things prior to leaving which worries me a little!!

I've been reading some of the other threads on this forum and have got some ideas for generating more money e.g. EBay selling but if anyone has any other ideas I'd love to hear them! I'm also quite good at spending lots of money in one day e.g. if I go on a shopping trip or day out...so I will definitely be trying to stop my spending in that respect!

I'm hoping that by posting this I'll actually take responsibility for my saving and it will become a fun challenge rather than something I worry about...and of course this forum will be vital when I get back with £0 and find myself having to get a flat and a job etc!!

Let the challenge begin!

~ Nervous Graduate

-taff

Good luck

Right then....can you make anything to sell? Have you thought about putting up your trip on one of the websites that invite people to donate? Car boot sales. Put your money either into an ISA so you get tax free interest, and buying premium bonds or having an account you can't withdraw from for 30 days will stop you spending your money on instant shopping trips

rubyraquelle

Thank you!

I hadn't thought about making anything to sell...that might be a good idea! I am considering beginning a donation page - I do run so I might see if there are any runs near me and do a sponsored run...or maybe a sponsored silence which would be very hard for me!

I exercised my self-control today and didn't indulge in any online shopping...got hit with a fairly expensive phone bill so definitely cutting back on anything and everything that isn't necessary!

Seeing as I spend most of my time at home (which is where I work too) I tend not to spend anything at all most days so that's good. I've also downloaded a free app to my phone which helps me track my spending! Now I just need to stick to my budget...

StrawberryJam132

Hi rubyraquelle !

I love that you're saving to volunteer with a missions organisation! That's something I've always wanted to do, but been too scared to! What are you doing out there etc?
I'm subscribed to your diary. It will be really interesting!:beer:
Good luck!

SB

rubyraquelle

Hey there

Thanks so much for the support!! I don't quite know what I'll be doing yet - it's with a Christian organisation and we start in HK but then we go on outreaches to the mainland (focusing on China, I think) and partner with churches in the area doing whatever needs doing, basically. I have friends who have been on similar things with the same organisation and they have done a variety of things like working in orphanages, teaching English, starting up clubs...the list is endless! I'm really excited for it!

I'll make sure I keep you updated!

~ rubyraquelle