Big Boosts for Your Sabbatical Savings

Taking a sabbatical can be more affordable than many people assume. Taking a hard look at my spending and setting strong priorities paved the way for a year-long trip in my 20s… but sometimes making progress on sabbatical savings feels unbearably slow. These are a few ways I made bigger boosts to my sabbatical savings account to fill the travel fund up faster.

Selling My Car

Getting rid of my car was the first true concrete step I took toward long-term travel. I took a job within walking distance of my apartment largely because it would allow me to give up the expense of having a vehicle. My ’97 Toyota Camry wasn’t pretty and wasn’t worth much. Nonetheless, that $1,200 breathed new life into my savings account. What’s more, I was then able to save $250 a month on parking, gas, and the maintenance necessary for an older vehicle.

Entering Contests

When I started planning my sabbatical in 2013, I worried I wouldn’t have enough to leave for a good five or six years. One of the ways I cut that time in half was by entering contests on Hi Marco.

Hi Marco has unfortunately since folded, but during my sabbatical planning, they were an independent community-driven travel guide. They held weekly themed contests where users could submit original photo itineraries on topics like “Best Historic Cities,” “Best Trips in California,” and “Best Skiing Trips.” The publishers would pick ten finalists and then readers would vote on their favorite.

I won first place for my photo itinerary of a road trip through West Virginia, and added $1,000 to my savings account.

Downsizing My Possessions

Early in my planning, I assumed that selling stuff would be one of the last things I considered, but that was a huge mistake.

Between old furniture, clothes, decorations, and books, I wanted to add a solid $2,000 to my savings account. I didn’t start selling things until the month before I left and I wound up making less than half my goal. Consignment stores and used book shops didn’t take as many items as I expected, and didn’t pay much for the things they did want. Friends graduating from college or moving into new homes often wanted to buy their own new things.

With so much else to do in just a few weeks, I wound up taking a huge load of stuff to the Salvation Army. The silver lining, however, was that I could claim that donation on my taxes next year.

Had I started downsizing earlier, I would have had more time to navigate the Facebook Marketplace jungle and could have added even more to my sabbatical savings.

Accepting Help

I’m not talking about the Bank of Mom and Dad funding the trip. But I am lucky to have supportive family and friends. A lot of naysayers like to make it sound like if you have to accept a single penny from anyone to travel, your work somehow doesn’t count. I don’t think there’s any shame in accepting a moderate amount of help from loved ones if they offer.

In fact, this was one of the greatest ways planning a sabbatical changed me. I am much more gracious and willing to accept people’s hospitality than I was in the past.

Many relatives and friends helped me by giving me travel gear as gifts. That cut down on my pre-trip expenses by about $175. A lot of relatives and family friends also made small contributions at my going away party. I had not expected that or requested it at all, but that added up to about $500 extra in my savings fund.

Taking Care of My Home

Rather than go to the time and trouble of finding a subletter, I gave up my apartment. Because it was in good condition, I got a big boost to my sabbatical savings near the start of my trip: the return of my $700 security deposit.

Total Savings

Doing things like eating out less and giving up your gym membership are valuable steps to saving money for a sabbatical. But that’s part of the marathon. These bigger, bolder savings tactics helped me save over $5,000 in just a couple years, and that’s without counting the ongoing monthly savings from selling my car. That accounts for a quarter of my total sabbatical budget! Taking more drastic steps like selling my car, selling many of my belongings, and ending my lease instead of subletting helped me reach my sabbatical savings goal much faster than just brewing my coffee at home.

If that’s a quarter of my budget, where does the other 75% come from? Find out how I put over $500 a month into savings.