Often, we either remind or are reminded by the wanderlust wonders like the freedom in return. However, they are sometimes glorified. It is especially so, when there is no visualization of real financial consequences.

One example is on the basis that responsibilities increase with age. The well-travelled thus stress that no. of countries travelled to in 20s should double in 30s, then triple in 40s. Henceforth, we reason our need to travel in our younger years because the period spells more f-r-e-e-d-o-m. We might be emulating their carefree selves, but actually forgot our dissimilar financial capabilities from them.

People state three common justifications for going abroad. However, they should remember first that travelling is always money + time that will not return. Second that, air tickets are usually bought by credit cards wherein one spends future money. Third, why expect to travel less in future when one can expect to travel more?


#1: “I am still young!”

You define young as not having your own family yet. Thus, time and money spent is usually for yourself. However, in retirement, the freedom will be the same or even larger. Retirement should no longer be bounded by age, but rather by financial independence. As if your parents have not told you enough, being young in your 20s is the best time to work towards that. That is why the young who are already working towards financial independence choose to travel at a later stage of their life.

    “My youth, time and money that’re gone eventually should be well-spent.”

#2: “I have no time in the near future!”

More flight-bookings now because you think that there are no opportunities due to upcoming commitments such as NS, tertiary education or when in the workforce. Yet, as once is not enough, is not travelling at all in future even possible? As work progresses, the stress in you may also justify for increasingly frequent short getaways made possible by long weekends (i.e. PH, annual, medical, half-day leaves). One has more time only when time, even for the rest of today, is well-delegated when even off-hours are optimized. I’d say to live purposefully than leisurely.

    “My time can be planned well for the future and hence, I might even travel more!”

#3: “My money in future will only be for other important expenditure!”

This is another overpromise. Due to income increments yearly, you attain higher spending power. Without proper wealth management, any surpluses may be used for travel immediately. Spending more on travel now to make up for not spending in future is not logical. Besides, paying with credit cards would be spending future money – in HUNDREDS/THOUSANDS. Knowing you’d receive money in future doesn’t mean to spend whatever you have at present! You should instead be saving more now for possibly lesser yet grander vacations!

    “Money I have now is still money I have in future. I am in control of its growth!”

You may go abroad for sound reasons such as being physically apt to take risks or to seek solitude. Regardless, travel only when it benefits you more than you lose all the time.

Financially, youth does not correlate with being wild and free with travel expenses. So instead of counting the countries, focus on whether the expenditure is worth the money. If greater than 20% of annual income, reflect on whether overspending on such short-term luxuries is necessary.


Jade Lee is the Chief Editor of Giants Learning Technologies. Her life purpose is to help; thus committing to youths like herself through articles regarding early financial planning. Jade graduated from Ngee Ann Polytechnic where she attained a Diploma with Merit in Early Childhood Education, having dedicated three years in understanding preschool children. Under a scholarship, she reads Bachelor of Arts in Psychology from Nanyang Technological University. Jade is also a commercial model and engages in Hip-Hop dance. Find out more about her insights via jade@theageofgiants.net


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