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Want to borrow money to travel before starting new job

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  • Nasqueron
    Nasqueron Posts: 10,771 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Hi there,

    I have just signed my contract for an amazing, well paid job which begins in September (a grad scheme).

    Having been looking for a grad job for a year and a half, I want to treat myself to going travelling. It's a once in a lifetime opportunity to have 3 months off seeing the world.

    However, I don't have the funds right now. The 2k I have will all be needed to move & pay London deposit, rent etc.

    I asked for an overdraft & loan at my bank but they turned me down because I told then I had handed my notice in :( Even although I showed them my shiny new contract & I think I have a very good credit score (I'm waiting on my free credit check coming back to confirm).

    I would dearly love to rack people's brains and see if anyone has any ideas re. how I can now get credit?

    Thanks in advance

    You can get a working holiday visa in Australia and NZ up until you are 30, I am sure other countries do the same - why not get the job sorted, earn some money, bank some savings and have a career break later on in your mid to late 20s - you can travel, and if you need to, do some seasonal work (possibly even work related to your career if you get lucky) and save at the time, couple of months here and there will tide you over and give you time to explore the country

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • Banks don't like lending to someone who's going off to travel the world.

    They might just meet someone, or something, and never come back, leaving them with a loan that will not be repaid. It's happened lots of times.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • pvt
    pvt Posts: 1,433 Forumite
    CKhalvashi wrote: »
    Which could be construed as fraud if found out later on.

    Except if it's a big bad payday lender - if you lie to them it's then apparently all their fault for not checking what you told them.
    Optimists see a glass half full :)
    Pessimists see a glass half empty :(
    Engineers just see a glass twice the size it needed to be :D
  • Yeah, yeah the way the banks are going OP, ensure you go for the get cashback !! :p
  • duchy
    duchy Posts: 19,511 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Xmas Saver!
    Why did the bank of Mum and Dad say no ?
    I Would Rather Climb A Mountain Than Crawl Into A Hole

    MSE Florida wedding .....no problem
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    London living is expensive, 2 k only covers about 3 months rent in a shared house if your lucky and not including the deposit beforehand and estate agent fees.

    Don't spend beyond your means.

    Save up for a better holiday
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • starry_night3
    starry_night3 Posts: 6 Forumite
    edited 26 April 2015 at 1:57PM
    Thanks for (most of) the replies guys.. some of you asked a few questions/made some suggestions that I thought I'd respond to...

    Firstly I got my credit score and it is indeed 'good' and just a few points of excellent. Bank of mum and dad said no due to a family argument.

    In response to some suggestions:

    * Go volunteer! - I have done this already, a 6 months unpaid internship overseas plus much more volunteering in the UK. I'm in a industry where it's necessary to do ridiculous volunteering/internships, some people do this for years, so I want a break from this. Forgive me but this is quite a patronising suggestion especially considering the cost of volunteering overseas.

    *Why don't you travel later! Well this job has been so long coming I am going to work my !!! off for the next 5 years probably in it. So no chance to take 3 months trips until my 30s! Now is the time

    *Join the Navy to travel! I tried! They turned me down

    *Working holiday! I have done this in Australia. Right now though I have 3 months to kill, not a year. Plus you need about £3k in your bank just to enter the country.

    *" 2 k only covers about 3 months rent" that's fine, I have a job lined up that pays monthly and as soon as I start the job I have access to a £1500 overdraft - way ahead of you

    Have I convinced you all that I've thought this through??
    And ideas been sparked?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    To me you have done a lot of travelling already - I don't know you at all I only have what you have written here to judge - but to me it seems a long jolly means more to you than work.
    Good luck to you if you can get away with it.
  • chesky
    chesky Posts: 1,341 Forumite
    Eighth Anniversary 1,000 Posts
    Have I convinced you all that I've thought this through?

    Nope .........
  • BrassicWoman
    BrassicWoman Posts: 3,218 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    I think you have just convinced me that you are workshy, sorry.
    2021 GC £1365.71/ £2400
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