Is Going on a Gap Year Really Worth It for My Finances?

One curious mind online is wondering whether taking a gap year between University and their first corporate role is worth the hit to their finances. Several people had opinions about whether a gap year was beneficial or would be a detriment to our questioner’s financial well-being.

Is Gap Year Really Worth It for My Finances?

1. Life Experience The most-liked response to this person’s question was that no one takes a gap year for their finances. Instead, they do it for the life experience. It’s a simple matter of what you value more, money or time.

Never a Better Time Another great reply came from an individual who reminded the person asking this question, “there will never be a time like now.”  As a single person, it’s much easier and cheaper to travel and spend a year just figuring everything out.

3. Similar Experience One person helped put the question poster’s mind at ease by sharing their experience. They took a gap year, traveled overseas for over a year, and still landed a great job with little extra effort. It is common for a grad role to take a year or two to fill.

4. Regret This advice might not apply to everything in life, but if you’re contemplating a vacation, a gap year, or anything else you deem essential; imagine your life ten years from now when you didn’t take advantage of the opportunity.

5. Carpe Diem The Latin phrase means ‘seize the day.’ It’s often given as advice to people pondering which direction to take concerning a big decision. With our question giver, the advice mainly be to take the gap year, enjoy the experience and let the cards fall where they will.

6. English as a Second Language A traveler gave an excellent option for teaching English overseas. The gap year could be about travel and learning another culture, but it could also bring in an income, and the experience looks fantastic on a resume.

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