Saving for round the world trip

charliefarlie_2

Hi,

I'm hoping someone with a good head for numbers can give me some advice! My boyfriend and I are planning on going travelling around the world, with the aim to depart in the second half of 2009, so in approx 18+ months.

My question is this; what is the best way of saving for this? Neither of us are particuarly fiscally minded, so we don't really know whether to go for an ISA, an esavings account etc, can anyone offer any hints or tips?

I can afford to save approx £150 - £200 pm, and as a rough estimate, the round the world ticket will be in the region of £700. We don't want to have to work our way around the world, but aren't against the idea of a couple of weeks teaching english or somthing along those lines; that said, we do want to spend most of our time travellng/experiencing/eating.

Any advice from other ex-gap year travellers would also be welcomed!

Charlie x

sweetmoneysaver

I would start with a cash ISA each. As it is tax free you will gain on not paying out tax on the interest. The current year's allowance is £3000 but it goes up to £3600 next financial year (6th April 2008). It's an allowance that you use if you don't take advantage of it. Some of the top ISAs will pay over 6% interest and that remember is tax free.

Good luck and enjoy the trip. Don't forget to look into some kind of comprehensive travel insurance cover!