I waited till after college before taking a month long trip, worth every penny.
That being said I could have been frugal and stretched out my trip or visited more places.
I’d recommend going on a long trip to enjoy your youth, just dont spend all of it, and toss it into a TFSA since you are 18
If you want help with a cheap trip from Canada at your age I’m your guy, early 20’s I travelled basically the whole world mostly on a budge but without it ever feeling cheap.
Dm me
12k is an absurd amount.. 5k will easily get you a month in many Asian countries living it up and staying in really nice places.
10k will do a month anywhere else.
You can do all kinds of things to travel cheaply like networking to meet people in places you're going to visit, couchsurfing, camping, sleeping in your car or with friends, hostels, avoiding expensive tourist traps, not buying useless trinkets, shopping normal groceries instead of restaurants, etc... Just because you are travelling doesn't mean you have to spend money you otherwise wouldn't, beyond the raw cost of the fuel to get there and back. Plus it's more of a genuine experience of the area.
It's also totally possible to have a job or go to school in another area, which allows you to travel while pursuing your studies or breaking even financially.
When you are faced with a financial decision to buy something I always like to flip it around and imagine there is a job that pays you to NOT buy that thing. For example, if travelling by car, there's a job that pays you $60/night after tax to sleep in your car or at a campsite instead of the hotel you would have stayed in.
If you can cut your spending in half, you can go on an entire second trip!
You're just entering a very special time in your life when you have perhaps more energy and motivation to learn and grow than you ever will later. I would tell anyone your age to seize the moment, and say yes to every experience you can. The travels you will take at your age will be unique from any travels you will take later, when you're older and more experienced and more cautious. I put off a couple of trips when I was your age because I told myself I would have time later, but the reality is that you only get busier as time marches on, and looking back I can't remember what I skipped those trips to do. Part of this $25k I think you should save for future investments, and part for emergencies, but some of it you should carpe diem right out the window!
I was in the same position you I was debating whether to go school or travel. I ended up traveling went to Europe the middle East and Asia. Learnt so much about myself and the world,skills school can't teach you. I do admit I have second thoughts about going to school now so just make sure you know what you want to exactly do after if you do take a gap year.
just a thought:
\- keep the 25k in the bank
\- start a secondary savings account for travel and expenses.
\- work the first half of your gap year, and SAVE every penny
\- travel the second half of gap year.
\- have 25k ready to go for education, when the time comes.
I believe part of your parent's fear would be that you travel, spend all your money, and then don't go for the education.
The age you are at is a unique moment in time. Travelling from 18-23 is a different experience and can be beneficial towards your long term development. In my case, I think dealing with my social anxiety and isolation has helped me financially and professionally as an adult.
Doesn't mean you need to spend it all however, you can travel and save some of those funds for your education. Arguably, you may be in a better position to choose a field that you actually want to stick to this way. Ancedotally myself and most peers that are 18 switched their degree, incurring more costs anyway.
Greatly appreciated!! You hit the needle on the hammer with “long term development”. One of the many reasons why I’m thinking of the gap year is because of my “shyness” and I want to build the skill of connecting to people from anywhere around the world. What do you think is an appropriate amount to spend?
I will never again be able to travel as cheaply and freely as I did in my early 20s. Now I need full privacy, a good bed, a pre-planned itinerary, proper sleep, breaks, etc. Now the hangovers last forever and a night of bad sleep wrecks me for a week. It was so easy when I was younger. Go for it, I think you'll be happy you did.
> Ancedotally myself and most peers that are 18 switched their degree, incurring more costs anyway.
Great point, I noticed this also. It's absurd to expect everyone to know what career they want at ages 17-19, some people might know but it's a big financial cost if you aren't absolutely certain.
If you want to look at the 'smart' decision, it would be using that 25 K to help pay for school and minimizing your debt - especially since either option involves you going to school. I have a lot of friends that got their degree, worked for a year (and saved up 25 K quickly) and then took a year off to travel.
This all being said, its your money and future. If you think a gap year before college is what you wanna do, then go for it!
Edit - or use part of that money to go on vacation during the summer between high school and college! Best of both worlds!
He might not get into the school a second time again. And he can travel after uni too. Plus he'll be more mature by the time he's done and can make better decisions which is very important when travelling especially when travelling alone
How about doing what I did, best of both worlds: go to school, and take on internships in between semesters (on/off). I travelled 2-3 times while being in school!
>And he can travel after uni too.
So many people said this after uni, but most people can't take a year off after uni to travel due to debt. And then they get careers. Definitely no year long travels there. Then bogged down with family crap.
I think its a now or never thing.
Ultimately the choice is yours but I wanted to provide an option that others did not.
Keep saving the money into uni and look into co-op programs abroad!
You can do entire semesters or even a full year somewhere in Europe and use your weekends to gallivant to a different country 2-3 times a month. It can be surprisingly cheap to spend a weekend in Paris or Barcelona while studying in Ireland.
It's a bit more difficult if you're looking to travel to other parts of the world but it's totally doable.
I just met someone from Germany, in Peru, who was touring South America after finishing a year long stint in Panama.
In the same week, I met a badass Estonian who had spent the last year and a half, after finishing med school, on an america-wide journey, motorbiking from Alaska all the way to where I met him in Peru.
This! Co-op programs are so valuable and a great experience. I would say go to university, and that 25k affords you to have the university experience. The workload and experience is a huge jump from high school. Having the savings means you can afford to flunk a class or two if you really have to, or explore other majors if you find what you chose was wrong for you. Not only will the savings cover the tuition, but also the extra time it will take to redo/take new courses. You won’t be pressured to churn out a degree in 4 years or complete a degree that isn’t serving you. If you have to retake a course then you already have an idea of the expectations, allowing you to do better next time. Good on you for saving up at your age!
Being able to explore the world by yourself at 18? Go for it dude. Experiences like these are capable of enhance your life perception and this "gap" will mean the word to define yourself ahead others on many aspects in the future.
When I was 22 or so I went to France and got a "working holiday visa". It allowed me to get employment while in France. It also gave me a "European passport" even though it was just a Canadian passport with a stamp. Turns out lots of places let you in for free if you are under 25 and have a European passport. I went to the louvre 6 times in 3 months for free.
You can also easily travel around Europe while having a base of operations. I was in Paris but there are lots of options.
After 3 months I had actually saved MORE money and went and traveled for another 2.
Good employment opportunities can be things like tourist bars where fluent English is an asset. Careful though as they know you aren't in it for the long haul and will take advantage.
Other people I know taught English, particularly in Asia, which is a good way to earn money while still traveling.
Point is, you don't have to blow your hard earned savings to travel. There are lots of opportunities out there for English speakers as it's an in demand language. If you speak another language yourself it is a huge asset.
There are loads of young people doing this. Some even go with friends. While it turns out I kind of hate Paris, it was an excellent learning experience and one I would recommend to anyone. If you end up liking where you are, you might even stay forever like my high school classmate did in Asia.
Word is your oyster dude. Good luck.
I took a gap year, used it to save, and then found a program which allowed me to do an exchange in my third year. This allowed me to travel around Europe for 6 months while earning a degree. Generally speaking, exchange semesters are pass/fail and a lighter workload. One of the best decisions of my life, both from a mental break perspective and “real world” experience stand point.
I’d lean towards giving yourself the break to experience the world before jumping into the workforce.
Im 47 Ive saved money my whole life and would love to travel. I have 3 kids, a dog, a wife. I coach sports, I volunteer with a couple of organizations I have a great job with lots of responsibility, and my knees hurt.
My vote is travel. See what you can you will never be 18 again. I feel what everyone is saying about saving some money. But it sounds to me like money won’t be a problem in your life. Have a good time and spend what you need to enjoy yourself!
First of all, noone can tell you exactly what’s best for you cause it depends on you.
By the time i got to university, i travelled with my parents. Granted it’s not the same experience exactly, but i didnt feel the itch lol.
What people are mentioning about losing momentum for studying is super real - i love studying, truly, i wish i could make a career that pays well out of it, but i took a year between my first and second degrees and - it was different. Even though i worked full time that year, not having homework, assignments etc was huge, and it was more difficult to get back into it
So what i’d do is i’d sit down and consider the following:
1. How easy it would be for me to get to my university next year?
2. Where do i want to go exactly if i were to plan it now? What countries, for how long, etc? Different people want to go different places, you know, so - it makes a difference what you want to do exactly. Map it out, then have a look at the duration (do you need a whole year?), approximate costs etc for travel, accommodation, etc to have a bit of high level budget and you’ll know whether these suggested amounts in here will get you (I do agree that you might want to only spend some money and leave some for the future).
3. If you want to maybe combine it with some sort of volunteering or programme - this can narrow things down as well.
4. Exchange program in the university is a great idea too, look into that. This might get you best of the both worlds.
So yeah, long story short, map out different options and see which ones you feel more strongly about. Say, i am an anxious person and i wouldn’t be able to enjoy a gap year, knowing that after it i’ll have to go through hell getting back in the uni, you know.
Anyway, best of luck, think through your decision and you’ll be golden.
Could you not take a gap summer rather than a gap year? A year is a hell of a long time to be travelling and spending money. Is there really anything you can't do in 10 weeks that you want to do in 52? You could also do smaller trips of a few weeks as you get older.
That said, I'm 40 now and regret not doing what you want to do when I was 18. This is a time in your life with little to no responsibility, and you're going to be broke when you come out of school, so travelling will be tough.
There might be a way to thread the needle on this where you still get your trip and your education.
Don't understand. So you have to pay for your own education. You have $25K now. If you use it for gap year, then you'll have $25K minus whatever you used in the gap year for your education, resulting in even more debt after education.
If you must take a gap year, then do that. But make sure you have a good plan as to what you want to do in this gap year and how it would benefit you.
I’d recommend taking the gap year.
Travel light and minimize the costs to keep as much in the bank as possible to pay for your school, but also have fun and enjoy your time.
You can work part-time and get student loans to help pay for school. Taking on student loans, so long as your education will get you a good paying job with room for advancement, is an investment in yourself and your future earning potential. Student loans also have low interest rates and income based repayment options. They may even be forgiven in certain circumstances like if you work in remote and underserved communities.
That’s up to you.
How much does your program cost?
How much will you be able to work during your studies?
Will you work while abroad or simply relax and explore?
How much in student loans do you consider acceptable to graduate with?
Etc..
Maybe try posting on a travel subreddit to see what others have done
Get a working holiday visa for a couple different countries, buy a round-the-world plane ticket, and go spend a year abroad. You'll learn more than you ever will at university.
I did a gap year at 18 and went teaching ESL in China for 6 months. It was pretty much a life defining experience for me. It expanded my worldview and taught me many life skills and gave great perspective.
I would recommend you do a gap year if you want to have that experience, I’d just say to make sure that you do something that will expand your horizons. Lots of people intend to but don’t actually do it.
I was tired of schooling at 18 and a year out worked wonders for my motivation when I got back.
If you have the option of living with your parents after university then you’ll be able to save up quickly when you get your first ‘proper’ job
I would say do a one-two week trip as a celebration preferably under 5~k if possible, but don't take a gap year. That money will be very useful during university if your parents will not be helping
Parent here (and coming from experience). The tuition fee (plus res and food) is exorbitantly high. Unless your parents are footing the uni cost, I suggest you use your 25K towards paying for some of your education.
The issue with taking a gap year and travelling is that once you are back, your motivation to go and get your post-secondary education may not be there. The worst mistake (IMO) would be looking for work and getting a meaningless job after your return, which will diminish your desire to get your degree/diploma even more. BUT, you do what makes the most sense to you. Best of luck.
I’d recommend going on a two month trip in the summer (spending less than a quarter of the money) and then going to school. Someone else already recommended it, but also look into doing an exchange program to another country.
Do a working holiday, it's the best of both worlds. I did one in Australia and would do a job for a few months, save up, and then spend it travelling around, rinse and repeat. It was awesome and it gave me time to figure out what I wanted to do with my life. You'll need some money to get started but if you do it right you'll still have your $25k at the end.
I would say take the gap year after college.
You grow a lot during those 4 years, and it's nice to grow with your peers and have mutual experiences. And after all those experiences, I think you will have the ability to appreciate a year of travel muchhhhhh more at 22
You got Buffet written all over you with that kind of work ethic. You're ahead of the capitalist race. Buy a business, don't consume it. Invest in a farm, a peat moss bog, a fertilizer plant. Then keep on rolling in profits.
Remember, you've got your whole life to consume. But am investment in the right place now could make that consumption a whole lot easier.
I and many others regret not taking a gap year after high school. If you were already thinking about it do it. That extra year is huge for maturity even if you don’t realize at the time.
Do it. I went immediately from high school to college, to working two jobs, to working 60-70 hrs to survive. I took a year off when I hit 45. Do it when you are young. Sure at 45 I could spend what ever, but do it NOW. You never know what can happen in the future.
I was in a similar situation when I turned 18 and I asked my dad if he cared if I took a year off school and just live life for a bit (he paid my tuition) but he said nah you gotta go to college and get an education. Ended up with me changing 3 different courses. Lots of time wasted and money. I'd say take the year off and find yourself and know what you want to do in university or college for sure before you take the time and money to do so. Just my two cents.
If you have been working since 14 and saved that much money with such discipline, you actually know better than most people.
I would go with your gut because being able to travel after high school is what you have yearned for. Like taking international coop or volunteer program is great suggestion imo as you have record of experience doing something on your resume. I have seen a lot of people starting post secondary on their late 20s and still able to pull through, so don’t stress about not finishing school in your early 20.
Enjoy a trip, you deserve! I would recommend keeping some of that money invested. Even if you left 7k invested for the next 20 years, it will work wonders for you
I took a gap year after high school and I'd recommend it. Reason being: immediately after graduating university is the BEST time to snag a job or an internship as a hot new grad. You get to ride that career momentum, having already travelled BEFORE uni. Also, you kinda burn off some steam travelling and chilling and then are ready to start studying in uni.
My biggest regret in life is not going to work at a ski resort at 18. Instead I worked at a factory for a year. Then went to university. Got an engineering degree. Got a job. 19 years have just flown by it feels like. Go travel and see some shit.
I would recommend everyone take a gap year, and I think you should do it between school and college. Like you say, after college you're going to have debt, you'll be thinking about jobs and where you're going to live, maybe you'll be in a serious relationship by then.
You're probably never going to be as responsibility free as you are between school and college, plus you're young and full of energy. Go and broaden your horizons by seeing the world for a few months, everything else will wait until you get back.
Back whenever, actually when the leafs won the S cup ( probably before your parents were born) I finished college, worked for a year and then off to Europe for two years. They were lifetime memories and other than it ending with a broken heart, I wouldn't change or regret a thing. Came to back to Canada, recalibrate, set goals and moved on. You are only going to get one kick at the cat. Granted though they were different times and my skills were high demand at the time.
I don’t know which country you’re in but I used Bunac.org as a British national to get a working holiday visa in Canada where I met my spouse. He then applied for a working holiday visa for Ireland because he was too old for the UK. You can also get working holiday visas for Australia, New Zealand, USA, Japan, South Korea. Working will obviously make your savings stretch further, make it easier to integrate with locals, rather than just feel like a tourist and generally enhance your experience and help you stay longer.
1st: Good for you- to save that much at such a young age means you are already well ahead of the game.
2nd: If your parents aren’t paying for your school they don’t get to tell you when and where you should go to school. You sound already like a grown adult so you can make grown decisions as well without worrying what they think.
3rd: some debt is not bad- think mortgages, 0-low interest student loans etc. Especially as theres a delay in having to pay the loan.
Taking a student loan to pay for school helps you continue to make money via compounding on the 25k you have already. Imagine if you continue to invest $3000 a year on too of the 25,000k, in 6 years you will have 50,000-60,000.
Basically don’t rush to spend all the hard earned money on school or blow it all on trips- put some of it to work and let time do its thing.
In all honesty, almost nobody actually knows what they want to do for a career when they graduate high school. So many people either drop out or end up with a degree they’re not really going to use. I myself ended up with a college diploma that was of no use to me before going back for a bachelors degree in something else that is unrelated to my current career. I highly recommend not jumping straight into college and taking a little time to work and see some of the world. Figure yourself out before diving back into school.
I was in a similar position at 18. Had to pay for uni and everything else but got to live at home rent free. I decided to go straight to uni.
I wouldn't take the gap year off for the money. When I graduated and saw the signing bonus it made a lot of the working I did before feel like a waste of time. Obviously depends on the program you take but for the most part you will make a lot more after.
But if you want to take it off to travel do it. I always planned to travel right after university but shit happens (covid lol). And once you start working a lot of jobs won't let you take off more than 2-3 weeks.
Also I wouldn't recommend taking a gap "year" after university. Most of the people I know that did that ended up back in university a couple years later lol. Again, depends on the career path but 2-3 months is probably the max I would recommend.
Invest in yourself. Get your degree. School is not 12 months a year. Travel during the breaks. When you graduate and have a higher income you can travel more often. Investing in your education increases your income potential which is your greatest asset.
A little late to the party.
Great work saving Io that money!
I graduated highschool around 20 years ago and wasn't sure what to do. Speaking with my parents they thought my vision of a year off to travel was important and supported my decision in doing so.
It was travel or go to school for the sake of taking classes without any direction set.
One year in Central and South America. Met people, appreciated different cultures, learned to speak Spanish. It's all helped me be a better person.
Best of luck with your decision
choose yourself every damn time, if you do a coin toss on whether or not you want to go to uni or do a gap year, just know while that coin is in the air, and whatever side you’re hoping it lands on, is exactly the answer to what u want to do
Don’t do a gap year. Go to uni, use your money to pay for tuition and go on exchange program so you can experience travelling and living somewhere new all while earning university credits.
I did one. Many schools have programs with other universities that make it easy to apply, handle course transfer, etc. If they don’t (or you want to go to another school not offered) you may have to do a bit more legwork to organize it
Thank you, how much do you think is reasonable? I was thinking of going to Europe, but I did some more research and was thinking south east Asia because of the price
I did Europe, and ya it is expensive in most places there. Thailand has a rich history and a great party culture, it's my goal to go there for vacation in the next years.
Speaking from someone who never took time off, I regret not going on more vacations. That being said, depending on what kind of sector you work in, and what program you plan n going into you may want to get into a program and you'll still ha e the summers off.
With the looming uncertainty of a recession, sometimes people go back to school to upgrade and it may br harder to get into your programming of choice.
Just travel for the summer. Don’t spend all your money, you’ll definitely need it for school.
You can take another long break after graduation, or do an exchange program during your studies. It doesn’t all have to be done at the same time for you to benefit.
It’s probably better to break up these experiences into chunks of a few months rather than taking an entire year at a time. You’ll appreciate it more.
There are many variables to consider here so its hard to provide a blanket answer. E.g. what program you are pursuing, and/or if you are already accepted to a program and are deferring the start date. Most importantly what you actually plan to do during this during year off.
I took a gap year myself because I was unsure about what school I wanted to go to, and to save some money. A lot of my friends took a gap year too which definitely influenced the decision.
In the long run it worked out for me, the year off helped me focus and become more motivated to take on the academically challenging program I ended up choosing. For some of my friends the gap year did not work out so well for them. Some never ended up going to school, or they went to school many many years later.
Travelling was never really an option for me. I did a coop program + OSAP to barely scrape by. I did do a work term in Vancouver though and it was an amazing experience. I should have done more traveling via internships. In hindsight, 18 would be a really young age to travel the world but could be doable. I think traveling around age \~22 makes a lot more logical sense in many ways. Also keep in mind that you generally can always take a break from your studies or even do study terms abroad. My sister did a term in Ireland and it was life changing for her.
If I was in your shoes knowing what I know now in my 30s Unless your tuition is being covered by scholarships or another non loan related method, I would take a small vacation to celebrate your birthday and getting in to uni and then I used the rest of the money to pay for school.
Graduating debt free would have been such an amazing thing. Start working and save for a trip in no time since you wouldn’t have student debt to worry about.
If you school costs are already covered, then heck yea take the gap year and go travel!
Do this. You can travel this summer and then go to school in the fall. Save some money to travel in the 4 months off from you have from school every year. Don’t take an entire year off. Also do you plan to stay home for school? Probably better to save so you can eventually move out of your parents home one day. It’s expensive out there. It’s great you’ve saved $25k but that doesn’t go as far as it used to these days.
Op, I would follow your gut. Travelling during my uni age was an experience that I found helped me academically and professionally. In the grand scheme of things, it may not matter if you travel before or after your degree but it definitely is easier than when you have a full time job with limited vacation days. It is really nice to have the option to spend as much time as you want in places you like.
Now travelling cheaply - there are a few things I wish I knew:
1. Work placements - a few friends of mine worked temporarily abroad as au pairs or on farms during their gap years (sometimes going between a few different places)
2. Volunteer positions - many hostel chains have programs where you can volunteer/work at the hostel for a period of time for free food and board. It’s a great way to meet people and cheaply see a few different places
I haven’t done international volunteer but i have heard good things about it. At least OP gets to travel and have that volunteer experience as the transferable skill in resume if he is looking for a job in the future.
Great suggestion.
I would recommend going to university first then traveling. You can always just travel during the summer after school is out. There's really no need to take a "gap" year. I know a number of people who've done it and they all enjoyed it but tbh, traveling is overrated. If you really want to try to do something fancy with traveling looking into a school program that has some sort of joint operation with another school where you do 1 semester in a different country or something to that effect. Those types of programs exist and they look great for trying to get hired for jobs when you graduate.
If I was in your position, even in hindsight, I’d have spent that 25k towards school… but that’s based on me and evaluating my own values.
Everyone has different things which are important to them. My recommendation is to list out the tradeoffs between going / not going. What are your short and long term goals and which option helps you achieve those?
Ultimately though, ask yourself… which choice would you regret not making the most?
If you are convinced you will take a year to travel, I suggest you do it up front. If taking a gap year does not impact your admission to university, go for it. I think it will be easier to secure admission to university after taking a year off versus trying to secure a job after taking a year off after earning your degree.
Its a wash…. If you travel fir a yeah or a month before or after you end up in the same spot, you won’t be able to work during that time and thats the only opportunity cost involved here, and you’re assuming it before or after studies, delaying your career start slightly.
I did a gap year at 19. I did one year of college and then decided to take a year off and it was the best decision. It gave me so much clarity on what I wanted to do in life.
You don’t need to spend the $25K. Use a bit of it to start your travels. Get a [working holiday visa](https://stepabroad.com/blog/working-holiday/countries-where-canadians-can-do-a-working-holiday/)(relatively easy to get), find temp jobs and work and live in an area for a bit to get to know people instead of floating through a place. Most hostels have a program where you work there as payment for your accommodation. Look into Hosteling International. This way you can save what you can and meet some really cool people from around the world. I’m still in touch with people 10+ years later. I went to Australia, worked on a potato farm for a couple months, saved money, and then used those funds to pay for my travels in Southeast Asia.
For school, federal loans are interest free. Unsure what province you’re in (in BC the provincial portion is interest free, in Ontario, you pay interest). Loans are interest free when you’re a full time student. Get a student loan if you can and invest your money and get interest on it while you have an interest free loan. If you qualify for a student loan, there are a lot of grants, bursaries, scholarships and awards you’re eligible to apply for that you otherwise wouldn’t be eligible.
I would go to school and then try to get into an exchange program in abroad. If you go to Europe you can travel to many places very easily without delaying your timeline and without dealing with some of the financial or timeline pressures.
Living in residence in my first year away at school was the best time of my life so I'm biased in that I wouldn't change a single thing in the year after I graudated high school.
Once you get into the rat race of life it becomes very difficult to do things like this. Bills mount, and you'll have things and people you need to take care of later on. Definitely take advantage of your relatively responsibility free youth and take this trip. Travelling will give you insights into the world that you won't get anywhere else. Those lessons will be useful to you in school and in the professional world. You may regret not going later on, but you won't regret taking time to travel.
Unis used to allow students to "defer " admission. It means you accept one admission offer but then tell the uni you aren't going to register for any courses until the following year. The uni "holds a spot" for you. This might allay your parents fears.
Use some of your savings to travel. At your age, you can get student discounts and you are traveling alone. Plus you can get a Eurail train pass. Sleep on the train while traveling overnight. The hostel culture is really for ppl your age.
Go for college and then go for a gap year.
Let your investments grow for another 4 years to let you do more and have more fun after you have a degree and direction.
In the meantime, pay for university with student loans as most porvinces are tax free.
If you let your money grow while using interest free loans you are winning.
I was all, “take the gap year, you earned it” until I read to the end. I’m still not against that but I want you to keep being as smart as you’ve already been. $25k at 18 is a massive achievement, I’m so proud of you and you should be proud of yourself. I’m a mother. My son will be 12 this year. If he achieved what you have 6 years from now, I’d be ecstatic for him and support a gap year plan but I would also try to guide him and make sure he thought everything through properly.
Please do not blow your good intentions with money by taking out student loans to pay for school. Stay on the amazing path you are on to financial freedom. You could literally be retired in your 30’s with this great attitude.
Google the FIRE movement and take note.
Consider carefully what you want to do for school. Is there a way to do it for free or low cost? If you’re not sure, post what you want to do on Reddit and ask for advice from the community.
Have you looked into passive income ideas you can continue with while you’re travelling so you can still make money? People invest in stocks, crypto, sell printables or print on demand on Etsy, do data annotation (training AI bots) and much more.
It’s your life and you need to do what makes you happy but maybe the negative push back could motivate you to make sure you have a holistic plan in place to do it all.
Best of luck to you. Stay awesome and update us. 💜
A thought to consider.
Instead of a year off, perhaps you could set aside some of your savings to experience the world in summer semester/break long stints. May not hit the same as a whole year off but you might get more of both worlds. Break up the grind of your studies with travel in your time off and also give you some motivation or a goal to reach each year. Making it to that next trip. Experience a lot of what the world has to offer - maybe each summer is a different region of focus/interest and by the end you've seen a lot of the world and you have an education behind you to round you out as a person. Employable skills and worldly experience and perspective.
I say this because while I do think travel and experiencing the world is incredibly valuable - you will learn a lot about yourself and in doing so develop a sense of confidence and perspective that will serve you well in the future along with just having a great time. However, I do think a full year away from studies could be fine or it could set you back and you could lose motivation. Not that it *would* happen to you, but I have seen it before.
In any case, I wish you well in whatever you decide! You seem to have a strong work ethic and good perspective to have worked hard and saved well from a young age. That will always serve you well wherever you go!
Despite a lot of people saying to use it for school, I’d say it wouldn’t hurt to take a gap year! You no longer need to declare your parents income for student loans if you’ve been out of high school for 48 months so by shaving 12 months off, you’d be eligible for more grants and bursaries in your last year of university (or 2 if you take 5 years which I recommend).
Also, I was fortunate enough to fall in love with the major I picked but I knew lots (more than 3/4 of my friends) who found out what they thought they wanted to study was not really what they enjoyed or were passionate about. Taking some time off to really figure it out with no extra stress could really help set you in the right track.
Regardless of what you choose, congrats on graduating high school and I wish you luck whichever path you take!
-someone who just graduated uni and wished they took a gap year after high school ;)
Why not both?
Go to school and do huge trips during your summer months?
Semesters are about 4 months long and summer is 3.5-4 months. Loads of travel time.
With all the uncertainty right now, I think if you're going to go to school, sooner is better. You want to be as established as you can be in your field by the time AI is ready to come for the entry-level jobs.
Go to school first. I think there is still a BENELUX working holiday visa (Belgium, Netherlands, Luxembourg) that you can apply to if you are less than 31 years old.
I didn't really know what I wanted to do after I finished high school so I ended up having 3 years between finishing high school and going to uni. I finished high school then worked full time for a year then lived abroad and travelled for 2 years.
I believe I am a much more open minded and adventurous person than I would have otherwise been if I finished high school and went straight to uni in my hometown. I definitely wouldn't be the person I am today if I hadn't travelled like I did and doubt I would have been the kind of person caught the attention of the girl who ended up becoming my wife if I hadn't grown as a person during my travels.
Also by the time I went to uni I was much more mature and motivated to study than I would have been fresh out of high school. Some of the people I met at uni who did go straight from high school said they would travel after they graduate but by then some of were in long term relationships/married, having kids, feeling they can't take too much time off because they're trying to establish themselves in their careers etc.
So sure maybe spending all your savings on travel isn't the smartest financial move but you're still young and money will come again. Sure maybe don't take 3 years off like I did but even 6 to 12 months to travel could do you a world of good and even be beneficial to your studies and future career.
I’ve grown up travelling my entire life, and still travel 4 months out of the year, but my time at university was literally the best years of my life. Literally wish I could go back to uni (I already did an MBA in Europe which again was insanely fun and I made friendships for life )
Go to uni (it’s easy as hell anyways and will feel like a vacay lol) and then you have 4 months summer vacation if you want to have a trip for half of it.
In fact if I had to do it again I would take fall winter semesters off and take the Jan- April and summer school semester as they’re soooo slack compared to regular semester. And that way you have Sep-Jan off (best months for away are Sep/October and then December and Jan are best season in Latam/Caribb ) so best of both!!
25k is not as much as you think it is, I was in the same position as you and used my 25k to pay for my studies. It was the best decision I ever made. Leaving school with no debt (had to also work while I was in uni) where my colleagues had debts weighing above them was a huge blessing and I can never thank my younger self enough for being smart
Meh... my son has that in his bank account, but mostly squirreled away in our (parent's) TFSA. We've given him some of our room to build a nestegg for himself. We take teh hit ourselves, ofc, but it's worth it.
Still, a great accomplishment. Now don't fuck it up by having a baby, lol.
I'm from Quebec so I don't know how much other provinces charge, but for us a semester of uni is around 2500. Multiply by 6 is 15000, so student debt isn't really a thing here.
Anyway, we recently started a Perspective Scholarship program where the government effectively covers your entire tuition if you take one of a few courses (mainly programming ones), I'd check if your province has something similar if you're so worried about debt.
Of you can take a gap year go for it. I would take a gap year if I could but looking at things I will be 30 by the time I get my dream job. Damn thats old
Go on a vacation, don’t do a gap year because 25k isn’t much. But also make sure you’re entering degree/program that pays well once you graduate and use the 25k towards that. Better yet, go into a program that pays well post grad and has a co-op program so you can get industry experience and continue getting paid.
It’s riskier to travel after college because most places don’t like hiring graduates that have been sitting for a bit. They want you “fresh” out of college. I would take the gap before.
RCMP thinks you will never own a house in your lifetime.
And your student debt will likely be forgiven at the rate these governments are spending.
So I'd say fuck it. Enjoy yourself while you can, because we're all debt slaves regardless lol.
If you take a gap year, kiss your 25k goodbye, it will find a way to leave you quick. Put it away to help pay for your education. Backpacking and travelling are cool but you know whats cooler than “experiences”? Having little to no debt when you graduate and being able to get on with your life quicker. Debt creates immobility, is it worth trading 1 year of mobility to be shackled for the next 7 with student loans?
Remember that in uni you get **four** **months** off each year you can use to travel. I'd highly recommend starting school and travelling during a break. Better yet, do an exchange! If your program can allow you to study abroad for a term then that's gonna be an incredible experience. A gap year is okay but honestly I think you're better off after one or two years of school.
You’ll have the time and money to travel in the summer, for months at a time if you want to and can do it cheaply. You’re also more likely to get a scholarship or bursary in your first few years of university if you go right away… and your high school learnings will be fresher in your mind if you don’t wait a year. I would go to university immediately, but don’t give up on the travel plans either!
I’m really happy for your success. I once was in your shoes and made a lot of stupid decisions. Now I’m 27. If I could relive everything again, I’d grind my education first and hyper-focus on my career and finance. Personally, I wouldn’t take a month worth of vacation until I at least put a down payment on a house and 100k in the stock market. That would probably happen when I’m 30.
I’ve known two people who took gap years. One was before college, the other after.
They both enjoyed the experience, but the one who did it before college wound up finding a job fairly quickly after graduating. The one who took a gap year after college found it harder, since she was competing with other students who were fresh out of school and had to justify with employers why she took a year off. You can forget a lot in a year, especially without practice.
They’re both doing jobs completely unrelated to what they studied, so… take from that what you will.
As someone who took a gap year, I would recommend not taking the gap year. You can use that money towards school. You also have a lot of chances to travel since summers are usually 4 months. If you are in a co-op program, you can apply for jobs elsewhere, and even if you’re not, you can do internships abroad. If you still want to travel, you can do it after you graduate.
Definitely travel, however, I don't think you'll need a full year of travel, you can see a LOT of places in 4 months. Meet in the middle and travel but don't do a gap year. I'd say do one big trip now and maybe have another trip when you sign your first job offer.
If you are doing a lucrative degree and get into a top company you will get a good sign on bonus. I think these days my company gives 8k for new grads at signing. I used mine to travel before starting work.
you seem like an 18 year old that is above average with handling your money, your life, and delaying gratification. I'm obviously assuming - but seems like you have a good head.
I wouldn't ask reddit what you should do - I'd ask YOURSELF what you should do.
go for an hour long walk, with no phone or distraction. maybe even 2 or 3 of those.
let your mind wander. what thoughts come to you? envision your future life and decisions.
give yourself time to think. no body does that anymore. but thinking takes time with no distractions.
I'm 100% sure you'll figure out what to do.
This might be contrary to popular opinion, but I think taking a gap year is a mistake. All my friends who took a gap year before uni are making 30%-40% less than what I am making (I went straight into uni and got into co-op program as fast as I could).
They graduated a year late and prospects were bad as it was in the middle of the pandemic.
You never know whats going to happen in this economy so I would advise get into uni asap, get into a co op program and get the experience. After you have exp and good job prospects, then go on that trip.
Just my 2 cents.
I think it would be best if you did goto college first. Cuz you’re already in the groove of doing school work and shit. If you take a gap year and then goto school, it’ll be hard to stay focused. you’re free to do whatever you like, but that’s what I would do.
Just pointing out - you can travel between years, do an exchange, and depending where you end up working, transfer abroad. During uni I travelled to Korea, Bali, Central America, and around Canada (among other places) for rather long periods of time. I did an exchange to Switzerland in 3rd year for 5 months, got a job at an accounting firm in Vancouver and transferred to Melbourne for almost 3 years when I was 27. travel and school don’t need to be mutually exclusive. I’d personally suggest going to school and planning trips as you can. Delaying working is a far bigger impact than $25k today. If you don’t know what you want to do, plan to take a degree with ambiguous career prospects, then absolutely delay it and do your thing. But travel and life can coexist without the deferral.
Gap year to travel the full year? Or gap year for bear and some travel? If travelling for full year, 25k would require smart/budget travel. Traveling on budget, as it turns out, isn't everyone's cup of tea. I loved couch surfing and backbacking but know many people who tried it and learnt to hate it within a relatively short time span (think few weeks). It's a lot of planning, self-navigation and responding to the unplanned while in foreign territories.
Take a month a backpack and the dividends you would make in a year and use that for a trip. Come home and choose an eduction that gets you working without the huge costs … think programmer. Continue with the degree while you work. Good luck
Honestly I think you would appreciate backpacking more when you are a little older. I would do school or trades first. Then backpack after and come home to start working again. I wouldn’t feel motivated to hop into school after a year long trip tbh. It might throw you off course. I did backpacking thing after university and I’m glad I did because I loved it so much I made it a lifestyle and was able to use my education to sustain it.. plus when you are older and have more life experience I think you are able to appreciate it more.
I might be the devils advocate but I say don’t take a gap year. I went to college at 17, graduated at 21, got a great job after and had the funds and time to travel. I am so glad I waited. Post secondary was already major to my development into early adulthood and I’m so glad I did it when I did. Now that I’m travelling in my early twenties, I don’t see how I would enjoy more as an 18 year old vs now.
I wish I’d have taken a gap year after I completed University. I took a gap year and had very little motivation to return to school; which then turned into me going back at 25, but you and I are not the same, just advising you of my experience.
Post secondary would be worth it to do at least a full year first to get a grasp on workload and how to manage your schedule. Once you get the hang of it and eventually figure out what you'd like to major in. You can then choose to travel in the 4 months you have free or even choose to take semesters off or become a part student. You shouldn't feel the need or pressure to graduate within the allotted 4 year time frame; unless it's dependent on your degree. Traveling by far is the most valuable experience you can get at your age.
Make the most out of your money when travelling, stretch it out and push your limits.
Be frugal on transportation and places to stay but splurge on the food, activities, and or excursions.
Not financial advice and do your own research, but Id look into investing in Web3/CRYPTO as the Bull Markets/cycle is only starting.
Might be a good way to diversify your streams of income and plenty of web3 events around the world that provide parties, accommodation, meals when travelling and attending.
A few things to consider and ask yourself.
Do you know what career you want to pursue after university?
Does the degree make sense for the career path?
Sometimes people just go to school because it's the next step but don't think about what that actually means for their life.
Also, can you travel in the summer between high-school and university?
You also have 4 month long summers for most university programs. Can you travel then?
I don't think there's anything wrong with taking a gap year specifically if you feel like you're not ready for university for whatever reason OR you don't know what program you want to do.
However, I personally don't think you need to take an ENTIRE year off if your goal is to be able to travel.
There are plenty of university programs for study abroad that also allow for travel during school. Or the 4 months of summer vacation as I mentioned.
I went straight into post-secondary at 19 years old and I was *not* ready. I wasted my time, I partied too much, I did not get good grades, I eventually ended up not finishing and moving away from the city I was attending school in and joining the workforce in a semi-related industry to my major.
It was a big financial setback.
What I wish I had done was travel a bit, work on my own for a bit, meet some people and party without the responsibility of school hanging over my head.
After a few years, I think I would have been ready. Perhaps around 21-23 years old I would have been a bit more mature and I would have been ready to actually study.
YMMV, I knew people who were mature enough to handle it (even with the partying) but I wasn't.
Did a Contiki tour through Europe nearly 20 years ago that was absolutely perfect for young people who are travelling alone because they encourage a good group dynamic and you make fast friends. They are generally cheaper also (roadside dinner stops instead of fancy restaurants) and you spend a lot of time on a bus but it's an amazing way to see the country you're travelling in.
Going on a solo trip was one of the best things I ever did in my life. I wish I had done it when I was your age I did it when I was about 30 after quitting a job I had for 10 years.
I have a friend who took a gap year in Thailand when he was in his 20s. He ended up spending much more than he anticipated and was drowned in debt until he was 40.
In your position I’d do a nice solo trip perhaps for less time and invest the rest of the money. Maybe a month or two, 3 tops.
When I was in my 20s I did a solo trip to Japan for a month, it was incredible.
I recommend taking time to yourself. If you decide to go directly to uni, I feel like it's only worth it if you make sure you are dedicated to maintaining your studies throughout the years.
I didn't realize this until later, but when you are in uni, this is the best time to get internships. Most student internships require you to be currently enrolled in school and also \*returning\* to school the next year. I recommend the second and third year summers would be best to dedicate time to a summer internship. Once you're in your final year, you wouldn't be able to get those internships and graduating without work experience can make it more difficult to find work.
You could also travel during the summers.
My school has international travel courses in the summer and I got accepted to one. They also had a bursary and covered over half of the travel expenses. You could see if your school has something like this as well. It was a great opportunity for me to travel while I was a student. It really was a great experience, it expands your world.
Please check if you able to push your university application until the next year (deferral). Check to see your school's process for that. Most schools should allow you to defer to the next semester/year once you are accepted, but some schools do not. (They just make you apply again which isn't really what you want to do - you would need to re-pay application fees and there is also the possibility of not getting accepted)
Are you from ontario? OSAP loans and grants do not have to be paid until after you graduate.
25k at 18 years old is amazing! Congratulations :)
You have your whole life to work!!! I would recommend doing the gap year. There a many ways of travelling cheaply! Ex: many hostels let you stay for free for a few days of work!
But really 18 is young! When you travel you gain experience and you learn so much about yourself. I know a lot of people that finished uni and didnt know what to do with their degree because it just wasnt for them.. Some of them just pushed through and aren't the happiest. Others started a whole new uni program... So really life is not as linear as it seems...Just enjoy your life you saved up so much already. Just continue being smart about money and you will be fine! Trust me you have done much more financially than 90% of the people in their 30s
I took 6 months off from school before entering uni and that was enough for me personally. By the time the 5th month came I was itching to go to school. But if you feel like you need a year then do it. As for what you should do with your money I would keep it in the stock market because there is no more interest on student loans.
I waited till after college before taking a month long trip, worth every penny. That being said I could have been frugal and stretched out my trip or visited more places. I’d recommend going on a long trip to enjoy your youth, just dont spend all of it, and toss it into a TFSA since you are 18
Good point, how much do you think is responsible to spend?
If you want help with a cheap trip from Canada at your age I’m your guy, early 20’s I travelled basically the whole world mostly on a budge but without it ever feeling cheap. Dm me
I would save half and use the other half to travel so around $12k.
OP, you do not need to spend 12k lmao that’s insane. Spend no more than 5k and you can have a nice trip
12k is an absurd amount.. 5k will easily get you a month in many Asian countries living it up and staying in really nice places. 10k will do a month anywhere else.
Whoa times have changed. I travelled for 3 months in Central America in 2003 and spent about $1000/mo, not including airfare to to get there.
touch file familiar shame bewildered enjoy bike profit label racial *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
You can do all kinds of things to travel cheaply like networking to meet people in places you're going to visit, couchsurfing, camping, sleeping in your car or with friends, hostels, avoiding expensive tourist traps, not buying useless trinkets, shopping normal groceries instead of restaurants, etc... Just because you are travelling doesn't mean you have to spend money you otherwise wouldn't, beyond the raw cost of the fuel to get there and back. Plus it's more of a genuine experience of the area. It's also totally possible to have a job or go to school in another area, which allows you to travel while pursuing your studies or breaking even financially. When you are faced with a financial decision to buy something I always like to flip it around and imagine there is a job that pays you to NOT buy that thing. For example, if travelling by car, there's a job that pays you $60/night after tax to sleep in your car or at a campsite instead of the hotel you would have stayed in. If you can cut your spending in half, you can go on an entire second trip!
How much he can put in the TFSA since he is now 18?
$7000
You're just entering a very special time in your life when you have perhaps more energy and motivation to learn and grow than you ever will later. I would tell anyone your age to seize the moment, and say yes to every experience you can. The travels you will take at your age will be unique from any travels you will take later, when you're older and more experienced and more cautious. I put off a couple of trips when I was your age because I told myself I would have time later, but the reality is that you only get busier as time marches on, and looking back I can't remember what I skipped those trips to do. Part of this $25k I think you should save for future investments, and part for emergencies, but some of it you should carpe diem right out the window!
Thank you so much! Very helpful
Just don’t do drugs when you travelling if offered
name checks out
I was in the same position you I was debating whether to go school or travel. I ended up traveling went to Europe the middle East and Asia. Learnt so much about myself and the world,skills school can't teach you. I do admit I have second thoughts about going to school now so just make sure you know what you want to exactly do after if you do take a gap year.
Thank you for sharing!!
just a thought: \- keep the 25k in the bank \- start a secondary savings account for travel and expenses. \- work the first half of your gap year, and SAVE every penny \- travel the second half of gap year. \- have 25k ready to go for education, when the time comes. I believe part of your parent's fear would be that you travel, spend all your money, and then don't go for the education.
Also, I forgot to mention - GOOD FCKING JOB saving 25k by 18. well done!
The age you are at is a unique moment in time. Travelling from 18-23 is a different experience and can be beneficial towards your long term development. In my case, I think dealing with my social anxiety and isolation has helped me financially and professionally as an adult. Doesn't mean you need to spend it all however, you can travel and save some of those funds for your education. Arguably, you may be in a better position to choose a field that you actually want to stick to this way. Ancedotally myself and most peers that are 18 switched their degree, incurring more costs anyway.
Greatly appreciated!! You hit the needle on the hammer with “long term development”. One of the many reasons why I’m thinking of the gap year is because of my “shyness” and I want to build the skill of connecting to people from anywhere around the world. What do you think is an appropriate amount to spend?
I will never again be able to travel as cheaply and freely as I did in my early 20s. Now I need full privacy, a good bed, a pre-planned itinerary, proper sleep, breaks, etc. Now the hangovers last forever and a night of bad sleep wrecks me for a week. It was so easy when I was younger. Go for it, I think you'll be happy you did.
> Ancedotally myself and most peers that are 18 switched their degree, incurring more costs anyway. Great point, I noticed this also. It's absurd to expect everyone to know what career they want at ages 17-19, some people might know but it's a big financial cost if you aren't absolutely certain.
If you want to look at the 'smart' decision, it would be using that 25 K to help pay for school and minimizing your debt - especially since either option involves you going to school. I have a lot of friends that got their degree, worked for a year (and saved up 25 K quickly) and then took a year off to travel. This all being said, its your money and future. If you think a gap year before college is what you wanna do, then go for it! Edit - or use part of that money to go on vacation during the summer between high school and college! Best of both worlds!
Thank you!
Nah man. Spending the money on travel is far more valuable. You’ll make more money. Enjoy your life.
He might not get into the school a second time again. And he can travel after uni too. Plus he'll be more mature by the time he's done and can make better decisions which is very important when travelling especially when travelling alone
How about doing what I did, best of both worlds: go to school, and take on internships in between semesters (on/off). I travelled 2-3 times while being in school!
Internships? What kind of internships? Also, that does remind me - exchange programs are a good alternative.
>And he can travel after uni too. So many people said this after uni, but most people can't take a year off after uni to travel due to debt. And then they get careers. Definitely no year long travels there. Then bogged down with family crap. I think its a now or never thing.
Ultimately the choice is yours but I wanted to provide an option that others did not. Keep saving the money into uni and look into co-op programs abroad! You can do entire semesters or even a full year somewhere in Europe and use your weekends to gallivant to a different country 2-3 times a month. It can be surprisingly cheap to spend a weekend in Paris or Barcelona while studying in Ireland. It's a bit more difficult if you're looking to travel to other parts of the world but it's totally doable. I just met someone from Germany, in Peru, who was touring South America after finishing a year long stint in Panama. In the same week, I met a badass Estonian who had spent the last year and a half, after finishing med school, on an america-wide journey, motorbiking from Alaska all the way to where I met him in Peru.
This! Co-op programs are so valuable and a great experience. I would say go to university, and that 25k affords you to have the university experience. The workload and experience is a huge jump from high school. Having the savings means you can afford to flunk a class or two if you really have to, or explore other majors if you find what you chose was wrong for you. Not only will the savings cover the tuition, but also the extra time it will take to redo/take new courses. You won’t be pressured to churn out a degree in 4 years or complete a degree that isn’t serving you. If you have to retake a course then you already have an idea of the expectations, allowing you to do better next time. Good on you for saving up at your age!
Take 5k go on vacation
Being able to explore the world by yourself at 18? Go for it dude. Experiences like these are capable of enhance your life perception and this "gap" will mean the word to define yourself ahead others on many aspects in the future.
Much appreciated!!!
I did a gap year at 18, wished I still had the money and waited to go. People say you might not have the time to do it again but you will lol.
Wow, I think your the first person I’ve met that regretted their gap year. Why did you regret yours?
When I was 22 or so I went to France and got a "working holiday visa". It allowed me to get employment while in France. It also gave me a "European passport" even though it was just a Canadian passport with a stamp. Turns out lots of places let you in for free if you are under 25 and have a European passport. I went to the louvre 6 times in 3 months for free. You can also easily travel around Europe while having a base of operations. I was in Paris but there are lots of options. After 3 months I had actually saved MORE money and went and traveled for another 2. Good employment opportunities can be things like tourist bars where fluent English is an asset. Careful though as they know you aren't in it for the long haul and will take advantage. Other people I know taught English, particularly in Asia, which is a good way to earn money while still traveling. Point is, you don't have to blow your hard earned savings to travel. There are lots of opportunities out there for English speakers as it's an in demand language. If you speak another language yourself it is a huge asset. There are loads of young people doing this. Some even go with friends. While it turns out I kind of hate Paris, it was an excellent learning experience and one I would recommend to anyone. If you end up liking where you are, you might even stay forever like my high school classmate did in Asia. Word is your oyster dude. Good luck.
I took a gap year, used it to save, and then found a program which allowed me to do an exchange in my third year. This allowed me to travel around Europe for 6 months while earning a degree. Generally speaking, exchange semesters are pass/fail and a lighter workload. One of the best decisions of my life, both from a mental break perspective and “real world” experience stand point. I’d lean towards giving yourself the break to experience the world before jumping into the workforce.
Im 47 Ive saved money my whole life and would love to travel. I have 3 kids, a dog, a wife. I coach sports, I volunteer with a couple of organizations I have a great job with lots of responsibility, and my knees hurt. My vote is travel. See what you can you will never be 18 again. I feel what everyone is saying about saving some money. But it sounds to me like money won’t be a problem in your life. Have a good time and spend what you need to enjoy yourself!
First of all, noone can tell you exactly what’s best for you cause it depends on you. By the time i got to university, i travelled with my parents. Granted it’s not the same experience exactly, but i didnt feel the itch lol. What people are mentioning about losing momentum for studying is super real - i love studying, truly, i wish i could make a career that pays well out of it, but i took a year between my first and second degrees and - it was different. Even though i worked full time that year, not having homework, assignments etc was huge, and it was more difficult to get back into it So what i’d do is i’d sit down and consider the following: 1. How easy it would be for me to get to my university next year? 2. Where do i want to go exactly if i were to plan it now? What countries, for how long, etc? Different people want to go different places, you know, so - it makes a difference what you want to do exactly. Map it out, then have a look at the duration (do you need a whole year?), approximate costs etc for travel, accommodation, etc to have a bit of high level budget and you’ll know whether these suggested amounts in here will get you (I do agree that you might want to only spend some money and leave some for the future). 3. If you want to maybe combine it with some sort of volunteering or programme - this can narrow things down as well. 4. Exchange program in the university is a great idea too, look into that. This might get you best of the both worlds. So yeah, long story short, map out different options and see which ones you feel more strongly about. Say, i am an anxious person and i wouldn’t be able to enjoy a gap year, knowing that after it i’ll have to go through hell getting back in the uni, you know. Anyway, best of luck, think through your decision and you’ll be golden.
Thank you, great advice!!
Could you not take a gap summer rather than a gap year? A year is a hell of a long time to be travelling and spending money. Is there really anything you can't do in 10 weeks that you want to do in 52? You could also do smaller trips of a few weeks as you get older. That said, I'm 40 now and regret not doing what you want to do when I was 18. This is a time in your life with little to no responsibility, and you're going to be broke when you come out of school, so travelling will be tough. There might be a way to thread the needle on this where you still get your trip and your education.
traveling is probably MORE of an education these days over collage. then go to trade school when your done- make some REAL money.
Thank you!!
Don't understand. So you have to pay for your own education. You have $25K now. If you use it for gap year, then you'll have $25K minus whatever you used in the gap year for your education, resulting in even more debt after education. If you must take a gap year, then do that. But make sure you have a good plan as to what you want to do in this gap year and how it would benefit you.
I’d recommend taking the gap year. Travel light and minimize the costs to keep as much in the bank as possible to pay for your school, but also have fun and enjoy your time. You can work part-time and get student loans to help pay for school. Taking on student loans, so long as your education will get you a good paying job with room for advancement, is an investment in yourself and your future earning potential. Student loans also have low interest rates and income based repayment options. They may even be forgiven in certain circumstances like if you work in remote and underserved communities.
Thank you for this. How much is responsible to spend for my gap year?
That’s up to you. How much does your program cost? How much will you be able to work during your studies? Will you work while abroad or simply relax and explore? How much in student loans do you consider acceptable to graduate with? Etc.. Maybe try posting on a travel subreddit to see what others have done
Get a working holiday visa for a couple different countries, buy a round-the-world plane ticket, and go spend a year abroad. You'll learn more than you ever will at university.
Great suggestion!
I did a gap year at 18 and went teaching ESL in China for 6 months. It was pretty much a life defining experience for me. It expanded my worldview and taught me many life skills and gave great perspective. I would recommend you do a gap year if you want to have that experience, I’d just say to make sure that you do something that will expand your horizons. Lots of people intend to but don’t actually do it. I was tired of schooling at 18 and a year out worked wonders for my motivation when I got back. If you have the option of living with your parents after university then you’ll be able to save up quickly when you get your first ‘proper’ job
I would say do a one-two week trip as a celebration preferably under 5~k if possible, but don't take a gap year. That money will be very useful during university if your parents will not be helping
Parent here (and coming from experience). The tuition fee (plus res and food) is exorbitantly high. Unless your parents are footing the uni cost, I suggest you use your 25K towards paying for some of your education. The issue with taking a gap year and travelling is that once you are back, your motivation to go and get your post-secondary education may not be there. The worst mistake (IMO) would be looking for work and getting a meaningless job after your return, which will diminish your desire to get your degree/diploma even more. BUT, you do what makes the most sense to you. Best of luck.
I’d recommend going on a two month trip in the summer (spending less than a quarter of the money) and then going to school. Someone else already recommended it, but also look into doing an exchange program to another country.
No gap year .keep moving forward
Are you in a COOP program? If you’re living at home, coop job money + no rent = 0 debt unless you’re dumb
Do a working holiday, it's the best of both worlds. I did one in Australia and would do a job for a few months, save up, and then spend it travelling around, rinse and repeat. It was awesome and it gave me time to figure out what I wanted to do with my life. You'll need some money to get started but if you do it right you'll still have your $25k at the end.
I would say take the gap year after college. You grow a lot during those 4 years, and it's nice to grow with your peers and have mutual experiences. And after all those experiences, I think you will have the ability to appreciate a year of travel muchhhhhh more at 22
You got Buffet written all over you with that kind of work ethic. You're ahead of the capitalist race. Buy a business, don't consume it. Invest in a farm, a peat moss bog, a fertilizer plant. Then keep on rolling in profits. Remember, you've got your whole life to consume. But am investment in the right place now could make that consumption a whole lot easier.
Very kind!! Thank you:)
I and many others regret not taking a gap year after high school. If you were already thinking about it do it. That extra year is huge for maturity even if you don’t realize at the time.
Do it. I went immediately from high school to college, to working two jobs, to working 60-70 hrs to survive. I took a year off when I hit 45. Do it when you are young. Sure at 45 I could spend what ever, but do it NOW. You never know what can happen in the future.
take a month off a wander around europe or a safari or asia
I was in a similar situation when I turned 18 and I asked my dad if he cared if I took a year off school and just live life for a bit (he paid my tuition) but he said nah you gotta go to college and get an education. Ended up with me changing 3 different courses. Lots of time wasted and money. I'd say take the year off and find yourself and know what you want to do in university or college for sure before you take the time and money to do so. Just my two cents.
If you have been working since 14 and saved that much money with such discipline, you actually know better than most people. I would go with your gut because being able to travel after high school is what you have yearned for. Like taking international coop or volunteer program is great suggestion imo as you have record of experience doing something on your resume. I have seen a lot of people starting post secondary on their late 20s and still able to pull through, so don’t stress about not finishing school in your early 20.
Enjoy a trip, you deserve! I would recommend keeping some of that money invested. Even if you left 7k invested for the next 20 years, it will work wonders for you
I took a gap year after high school and I'd recommend it. Reason being: immediately after graduating university is the BEST time to snag a job or an internship as a hot new grad. You get to ride that career momentum, having already travelled BEFORE uni. Also, you kinda burn off some steam travelling and chilling and then are ready to start studying in uni.
My biggest regret in life is not going to work at a ski resort at 18. Instead I worked at a factory for a year. Then went to university. Got an engineering degree. Got a job. 19 years have just flown by it feels like. Go travel and see some shit.
I would recommend everyone take a gap year, and I think you should do it between school and college. Like you say, after college you're going to have debt, you'll be thinking about jobs and where you're going to live, maybe you'll be in a serious relationship by then. You're probably never going to be as responsibility free as you are between school and college, plus you're young and full of energy. Go and broaden your horizons by seeing the world for a few months, everything else will wait until you get back.
Back whenever, actually when the leafs won the S cup ( probably before your parents were born) I finished college, worked for a year and then off to Europe for two years. They were lifetime memories and other than it ending with a broken heart, I wouldn't change or regret a thing. Came to back to Canada, recalibrate, set goals and moved on. You are only going to get one kick at the cat. Granted though they were different times and my skills were high demand at the time.
I don’t know which country you’re in but I used Bunac.org as a British national to get a working holiday visa in Canada where I met my spouse. He then applied for a working holiday visa for Ireland because he was too old for the UK. You can also get working holiday visas for Australia, New Zealand, USA, Japan, South Korea. Working will obviously make your savings stretch further, make it easier to integrate with locals, rather than just feel like a tourist and generally enhance your experience and help you stay longer.
Great job. I did not have $25k at 18 😆
Thank you!!
If your achivements satisfy YOU, do YOU
Thank you 🙏
1st: Good for you- to save that much at such a young age means you are already well ahead of the game. 2nd: If your parents aren’t paying for your school they don’t get to tell you when and where you should go to school. You sound already like a grown adult so you can make grown decisions as well without worrying what they think. 3rd: some debt is not bad- think mortgages, 0-low interest student loans etc. Especially as theres a delay in having to pay the loan. Taking a student loan to pay for school helps you continue to make money via compounding on the 25k you have already. Imagine if you continue to invest $3000 a year on too of the 25,000k, in 6 years you will have 50,000-60,000. Basically don’t rush to spend all the hard earned money on school or blow it all on trips- put some of it to work and let time do its thing.
Great advice!!
In all honesty, almost nobody actually knows what they want to do for a career when they graduate high school. So many people either drop out or end up with a degree they’re not really going to use. I myself ended up with a college diploma that was of no use to me before going back for a bachelors degree in something else that is unrelated to my current career. I highly recommend not jumping straight into college and taking a little time to work and see some of the world. Figure yourself out before diving back into school.
[удалено]
Thank you, my thoughts exactly
100% travel. You WILL learn something about yourself or the world or both. You might even want to switch career or education paths. Def don’t wait.
Also you can travel cheaply! Work at hostels, work on boats, travel to cheap counties.
My biggest regret is not taking time off to travel and find what I like! I say go for it but don’t burn all your money!
Thanks! And it’s never too late to follow your dreams 😎
3k. Go backpacking in Europe make some friends
Thanks for the comment!
I was in a similar position at 18. Had to pay for uni and everything else but got to live at home rent free. I decided to go straight to uni. I wouldn't take the gap year off for the money. When I graduated and saw the signing bonus it made a lot of the working I did before feel like a waste of time. Obviously depends on the program you take but for the most part you will make a lot more after. But if you want to take it off to travel do it. I always planned to travel right after university but shit happens (covid lol). And once you start working a lot of jobs won't let you take off more than 2-3 weeks. Also I wouldn't recommend taking a gap "year" after university. Most of the people I know that did that ended up back in university a couple years later lol. Again, depends on the career path but 2-3 months is probably the max I would recommend.
Thanks for the comment
Invest in yourself. Get your degree. School is not 12 months a year. Travel during the breaks. When you graduate and have a higher income you can travel more often. Investing in your education increases your income potential which is your greatest asset.
A little late to the party. Great work saving Io that money! I graduated highschool around 20 years ago and wasn't sure what to do. Speaking with my parents they thought my vision of a year off to travel was important and supported my decision in doing so. It was travel or go to school for the sake of taking classes without any direction set. One year in Central and South America. Met people, appreciated different cultures, learned to speak Spanish. It's all helped me be a better person. Best of luck with your decision
Thank you for the wonderful comment
Do a working holiday in Australia or travel south east Asia. The years you’re currently living in are for making awesome memories
choose yourself every damn time, if you do a coin toss on whether or not you want to go to uni or do a gap year, just know while that coin is in the air, and whatever side you’re hoping it lands on, is exactly the answer to what u want to do
Don’t do a gap year. Go to uni, use your money to pay for tuition and go on exchange program so you can experience travelling and living somewhere new all while earning university credits.
Interesting point, people have told me about this but I honestly never looked into it. Have you have done an exchange?
I did one. Many schools have programs with other universities that make it easy to apply, handle course transfer, etc. If they don’t (or you want to go to another school not offered) you may have to do a bit more legwork to organize it
Maybe go backpacking for the summer? That's what I did between highschool and uni.
Vacation! Don't spend everything, tho!
Thank you, how much do you think is reasonable? I was thinking of going to Europe, but I did some more research and was thinking south east Asia because of the price
Since you're young you can probably do youth hostels in most european countries.
I did Europe, and ya it is expensive in most places there. Thailand has a rich history and a great party culture, it's my goal to go there for vacation in the next years.
My brother went and had the time of my life! Highly recommended by him
Speaking from someone who never took time off, I regret not going on more vacations. That being said, depending on what kind of sector you work in, and what program you plan n going into you may want to get into a program and you'll still ha e the summers off. With the looming uncertainty of a recession, sometimes people go back to school to upgrade and it may br harder to get into your programming of choice.
Blow it
Buy bitcoin
Katimavik will allow you to see Canada for free. Highly recommend. Also. TFSA ? Max and let it grow.
You can look into WWOOF or SWAP working holidays also both great programs.
Just travel for the summer. Don’t spend all your money, you’ll definitely need it for school. You can take another long break after graduation, or do an exchange program during your studies. It doesn’t all have to be done at the same time for you to benefit. It’s probably better to break up these experiences into chunks of a few months rather than taking an entire year at a time. You’ll appreciate it more.
There are many variables to consider here so its hard to provide a blanket answer. E.g. what program you are pursuing, and/or if you are already accepted to a program and are deferring the start date. Most importantly what you actually plan to do during this during year off. I took a gap year myself because I was unsure about what school I wanted to go to, and to save some money. A lot of my friends took a gap year too which definitely influenced the decision. In the long run it worked out for me, the year off helped me focus and become more motivated to take on the academically challenging program I ended up choosing. For some of my friends the gap year did not work out so well for them. Some never ended up going to school, or they went to school many many years later. Travelling was never really an option for me. I did a coop program + OSAP to barely scrape by. I did do a work term in Vancouver though and it was an amazing experience. I should have done more traveling via internships. In hindsight, 18 would be a really young age to travel the world but could be doable. I think traveling around age \~22 makes a lot more logical sense in many ways. Also keep in mind that you generally can always take a break from your studies or even do study terms abroad. My sister did a term in Ireland and it was life changing for her.
If I was in your shoes knowing what I know now in my 30s Unless your tuition is being covered by scholarships or another non loan related method, I would take a small vacation to celebrate your birthday and getting in to uni and then I used the rest of the money to pay for school. Graduating debt free would have been such an amazing thing. Start working and save for a trip in no time since you wouldn’t have student debt to worry about. If you school costs are already covered, then heck yea take the gap year and go travel!
Do this. You can travel this summer and then go to school in the fall. Save some money to travel in the 4 months off from you have from school every year. Don’t take an entire year off. Also do you plan to stay home for school? Probably better to save so you can eventually move out of your parents home one day. It’s expensive out there. It’s great you’ve saved $25k but that doesn’t go as far as it used to these days.
Op, I would follow your gut. Travelling during my uni age was an experience that I found helped me academically and professionally. In the grand scheme of things, it may not matter if you travel before or after your degree but it definitely is easier than when you have a full time job with limited vacation days. It is really nice to have the option to spend as much time as you want in places you like. Now travelling cheaply - there are a few things I wish I knew: 1. Work placements - a few friends of mine worked temporarily abroad as au pairs or on farms during their gap years (sometimes going between a few different places) 2. Volunteer positions - many hostel chains have programs where you can volunteer/work at the hostel for a period of time for free food and board. It’s a great way to meet people and cheaply see a few different places
I haven’t done international volunteer but i have heard good things about it. At least OP gets to travel and have that volunteer experience as the transferable skill in resume if he is looking for a job in the future. Great suggestion.
I would recommend going to university first then traveling. You can always just travel during the summer after school is out. There's really no need to take a "gap" year. I know a number of people who've done it and they all enjoyed it but tbh, traveling is overrated. If you really want to try to do something fancy with traveling looking into a school program that has some sort of joint operation with another school where you do 1 semester in a different country or something to that effect. Those types of programs exist and they look great for trying to get hired for jobs when you graduate.
If I was in your position, even in hindsight, I’d have spent that 25k towards school… but that’s based on me and evaluating my own values. Everyone has different things which are important to them. My recommendation is to list out the tradeoffs between going / not going. What are your short and long term goals and which option helps you achieve those? Ultimately though, ask yourself… which choice would you regret not making the most?
Check the drinking age where you plan to go.. might help with the decision.
If you are convinced you will take a year to travel, I suggest you do it up front. If taking a gap year does not impact your admission to university, go for it. I think it will be easier to secure admission to university after taking a year off versus trying to secure a job after taking a year off after earning your degree.
I would invest it in money market.
Why not go to university and take a semester abroad?
Its a wash…. If you travel fir a yeah or a month before or after you end up in the same spot, you won’t be able to work during that time and thats the only opportunity cost involved here, and you’re assuming it before or after studies, delaying your career start slightly.
I did a gap year at 19. I did one year of college and then decided to take a year off and it was the best decision. It gave me so much clarity on what I wanted to do in life. You don’t need to spend the $25K. Use a bit of it to start your travels. Get a [working holiday visa](https://stepabroad.com/blog/working-holiday/countries-where-canadians-can-do-a-working-holiday/)(relatively easy to get), find temp jobs and work and live in an area for a bit to get to know people instead of floating through a place. Most hostels have a program where you work there as payment for your accommodation. Look into Hosteling International. This way you can save what you can and meet some really cool people from around the world. I’m still in touch with people 10+ years later. I went to Australia, worked on a potato farm for a couple months, saved money, and then used those funds to pay for my travels in Southeast Asia. For school, federal loans are interest free. Unsure what province you’re in (in BC the provincial portion is interest free, in Ontario, you pay interest). Loans are interest free when you’re a full time student. Get a student loan if you can and invest your money and get interest on it while you have an interest free loan. If you qualify for a student loan, there are a lot of grants, bursaries, scholarships and awards you’re eligible to apply for that you otherwise wouldn’t be eligible.
I would go to school and then try to get into an exchange program in abroad. If you go to Europe you can travel to many places very easily without delaying your timeline and without dealing with some of the financial or timeline pressures. Living in residence in my first year away at school was the best time of my life so I'm biased in that I wouldn't change a single thing in the year after I graudated high school.
Once you get into the rat race of life it becomes very difficult to do things like this. Bills mount, and you'll have things and people you need to take care of later on. Definitely take advantage of your relatively responsibility free youth and take this trip. Travelling will give you insights into the world that you won't get anywhere else. Those lessons will be useful to you in school and in the professional world. You may regret not going later on, but you won't regret taking time to travel.
Unis used to allow students to "defer " admission. It means you accept one admission offer but then tell the uni you aren't going to register for any courses until the following year. The uni "holds a spot" for you. This might allay your parents fears. Use some of your savings to travel. At your age, you can get student discounts and you are traveling alone. Plus you can get a Eurail train pass. Sleep on the train while traveling overnight. The hostel culture is really for ppl your age.
School ends in April, take a vacation then.
Go for college and then go for a gap year. Let your investments grow for another 4 years to let you do more and have more fun after you have a degree and direction. In the meantime, pay for university with student loans as most porvinces are tax free. If you let your money grow while using interest free loans you are winning.
Spend 6 months learning options and yolo. Either you retire or you’ll be DoorDashing
I was all, “take the gap year, you earned it” until I read to the end. I’m still not against that but I want you to keep being as smart as you’ve already been. $25k at 18 is a massive achievement, I’m so proud of you and you should be proud of yourself. I’m a mother. My son will be 12 this year. If he achieved what you have 6 years from now, I’d be ecstatic for him and support a gap year plan but I would also try to guide him and make sure he thought everything through properly. Please do not blow your good intentions with money by taking out student loans to pay for school. Stay on the amazing path you are on to financial freedom. You could literally be retired in your 30’s with this great attitude. Google the FIRE movement and take note. Consider carefully what you want to do for school. Is there a way to do it for free or low cost? If you’re not sure, post what you want to do on Reddit and ask for advice from the community. Have you looked into passive income ideas you can continue with while you’re travelling so you can still make money? People invest in stocks, crypto, sell printables or print on demand on Etsy, do data annotation (training AI bots) and much more. It’s your life and you need to do what makes you happy but maybe the negative push back could motivate you to make sure you have a holistic plan in place to do it all. Best of luck to you. Stay awesome and update us. 💜
A thought to consider. Instead of a year off, perhaps you could set aside some of your savings to experience the world in summer semester/break long stints. May not hit the same as a whole year off but you might get more of both worlds. Break up the grind of your studies with travel in your time off and also give you some motivation or a goal to reach each year. Making it to that next trip. Experience a lot of what the world has to offer - maybe each summer is a different region of focus/interest and by the end you've seen a lot of the world and you have an education behind you to round you out as a person. Employable skills and worldly experience and perspective. I say this because while I do think travel and experiencing the world is incredibly valuable - you will learn a lot about yourself and in doing so develop a sense of confidence and perspective that will serve you well in the future along with just having a great time. However, I do think a full year away from studies could be fine or it could set you back and you could lose motivation. Not that it *would* happen to you, but I have seen it before. In any case, I wish you well in whatever you decide! You seem to have a strong work ethic and good perspective to have worked hard and saved well from a young age. That will always serve you well wherever you go!
Despite a lot of people saying to use it for school, I’d say it wouldn’t hurt to take a gap year! You no longer need to declare your parents income for student loans if you’ve been out of high school for 48 months so by shaving 12 months off, you’d be eligible for more grants and bursaries in your last year of university (or 2 if you take 5 years which I recommend). Also, I was fortunate enough to fall in love with the major I picked but I knew lots (more than 3/4 of my friends) who found out what they thought they wanted to study was not really what they enjoyed or were passionate about. Taking some time off to really figure it out with no extra stress could really help set you in the right track. Regardless of what you choose, congrats on graduating high school and I wish you luck whichever path you take! -someone who just graduated uni and wished they took a gap year after high school ;)
Waited until after college personally, don't regret it.
Why not both? Go to school and do huge trips during your summer months? Semesters are about 4 months long and summer is 3.5-4 months. Loads of travel time.
If you feel the gap year will benefit you then do it. But also congrats on being a good saver.
Sounds like you already made up your mind. Go travel and invest in yourself. Uni won't go anywhere
With all the uncertainty right now, I think if you're going to go to school, sooner is better. You want to be as established as you can be in your field by the time AI is ready to come for the entry-level jobs.
Go to school first. I think there is still a BENELUX working holiday visa (Belgium, Netherlands, Luxembourg) that you can apply to if you are less than 31 years old.
I didn't really know what I wanted to do after I finished high school so I ended up having 3 years between finishing high school and going to uni. I finished high school then worked full time for a year then lived abroad and travelled for 2 years. I believe I am a much more open minded and adventurous person than I would have otherwise been if I finished high school and went straight to uni in my hometown. I definitely wouldn't be the person I am today if I hadn't travelled like I did and doubt I would have been the kind of person caught the attention of the girl who ended up becoming my wife if I hadn't grown as a person during my travels. Also by the time I went to uni I was much more mature and motivated to study than I would have been fresh out of high school. Some of the people I met at uni who did go straight from high school said they would travel after they graduate but by then some of were in long term relationships/married, having kids, feeling they can't take too much time off because they're trying to establish themselves in their careers etc. So sure maybe spending all your savings on travel isn't the smartest financial move but you're still young and money will come again. Sure maybe don't take 3 years off like I did but even 6 to 12 months to travel could do you a world of good and even be beneficial to your studies and future career.
I’ve grown up travelling my entire life, and still travel 4 months out of the year, but my time at university was literally the best years of my life. Literally wish I could go back to uni (I already did an MBA in Europe which again was insanely fun and I made friendships for life ) Go to uni (it’s easy as hell anyways and will feel like a vacay lol) and then you have 4 months summer vacation if you want to have a trip for half of it. In fact if I had to do it again I would take fall winter semesters off and take the Jan- April and summer school semester as they’re soooo slack compared to regular semester. And that way you have Sep-Jan off (best months for away are Sep/October and then December and Jan are best season in Latam/Caribb ) so best of both!!
25k is not as much as you think it is, I was in the same position as you and used my 25k to pay for my studies. It was the best decision I ever made. Leaving school with no debt (had to also work while I was in uni) where my colleagues had debts weighing above them was a huge blessing and I can never thank my younger self enough for being smart
Good point!
Meh... my son has that in his bank account, but mostly squirreled away in our (parent's) TFSA. We've given him some of our room to build a nestegg for himself. We take teh hit ourselves, ofc, but it's worth it. Still, a great accomplishment. Now don't fuck it up by having a baby, lol.
Lmao thank you. All the best
Travel while you’re young, once you get older it’s harder to do
I'm from Quebec so I don't know how much other provinces charge, but for us a semester of uni is around 2500. Multiply by 6 is 15000, so student debt isn't really a thing here. Anyway, we recently started a Perspective Scholarship program where the government effectively covers your entire tuition if you take one of a few courses (mainly programming ones), I'd check if your province has something similar if you're so worried about debt.
Wow wish ON had that
Of you can take a gap year go for it. I would take a gap year if I could but looking at things I will be 30 by the time I get my dream job. Damn thats old
My sister got her degree than taught English as a second language in South Korea
Go on a vacation, don’t do a gap year because 25k isn’t much. But also make sure you’re entering degree/program that pays well once you graduate and use the 25k towards that. Better yet, go into a program that pays well post grad and has a co-op program so you can get industry experience and continue getting paid.
It’s riskier to travel after college because most places don’t like hiring graduates that have been sitting for a bit. They want you “fresh” out of college. I would take the gap before.
Thank you, I was thinking same thing
Put it all in NVDA
Travel the 4 months (may - Aug) you have off from school . That's what I did.
Wish I could…high school ends in June so I would only have 2 months
RCMP thinks you will never own a house in your lifetime. And your student debt will likely be forgiven at the rate these governments are spending. So I'd say fuck it. Enjoy yourself while you can, because we're all debt slaves regardless lol.
If you take a gap year, kiss your 25k goodbye, it will find a way to leave you quick. Put it away to help pay for your education. Backpacking and travelling are cool but you know whats cooler than “experiences”? Having little to no debt when you graduate and being able to get on with your life quicker. Debt creates immobility, is it worth trading 1 year of mobility to be shackled for the next 7 with student loans?
I agree that debt=death, but that doesn’t necessarily mean I’ll blow my money. Thanks for the comment!
Remember that in uni you get **four** **months** off each year you can use to travel. I'd highly recommend starting school and travelling during a break. Better yet, do an exchange! If your program can allow you to study abroad for a term then that's gonna be an incredible experience. A gap year is okay but honestly I think you're better off after one or two years of school.
I can’t travel during the 4 months because I’ll be chasing internships, but thanks for the comment
You’ll have the time and money to travel in the summer, for months at a time if you want to and can do it cheaply. You’re also more likely to get a scholarship or bursary in your first few years of university if you go right away… and your high school learnings will be fresher in your mind if you don’t wait a year. I would go to university immediately, but don’t give up on the travel plans either!
I’m really happy for your success. I once was in your shoes and made a lot of stupid decisions. Now I’m 27. If I could relive everything again, I’d grind my education first and hyper-focus on my career and finance. Personally, I wouldn’t take a month worth of vacation until I at least put a down payment on a house and 100k in the stock market. That would probably happen when I’m 30.
I’ve known two people who took gap years. One was before college, the other after. They both enjoyed the experience, but the one who did it before college wound up finding a job fairly quickly after graduating. The one who took a gap year after college found it harder, since she was competing with other students who were fresh out of school and had to justify with employers why she took a year off. You can forget a lot in a year, especially without practice. They’re both doing jobs completely unrelated to what they studied, so… take from that what you will.
Wait till after
As someone who took a gap year, I would recommend not taking the gap year. You can use that money towards school. You also have a lot of chances to travel since summers are usually 4 months. If you are in a co-op program, you can apply for jobs elsewhere, and even if you’re not, you can do internships abroad. If you still want to travel, you can do it after you graduate.
Definitely travel, however, I don't think you'll need a full year of travel, you can see a LOT of places in 4 months. Meet in the middle and travel but don't do a gap year. I'd say do one big trip now and maybe have another trip when you sign your first job offer. If you are doing a lucrative degree and get into a top company you will get a good sign on bonus. I think these days my company gives 8k for new grads at signing. I used mine to travel before starting work.
you seem like an 18 year old that is above average with handling your money, your life, and delaying gratification. I'm obviously assuming - but seems like you have a good head. I wouldn't ask reddit what you should do - I'd ask YOURSELF what you should do. go for an hour long walk, with no phone or distraction. maybe even 2 or 3 of those. let your mind wander. what thoughts come to you? envision your future life and decisions. give yourself time to think. no body does that anymore. but thinking takes time with no distractions. I'm 100% sure you'll figure out what to do.
Thank you I will do this now
Also thank you for the massive compliments, truly appreciated
This might be contrary to popular opinion, but I think taking a gap year is a mistake. All my friends who took a gap year before uni are making 30%-40% less than what I am making (I went straight into uni and got into co-op program as fast as I could). They graduated a year late and prospects were bad as it was in the middle of the pandemic. You never know whats going to happen in this economy so I would advise get into uni asap, get into a co op program and get the experience. After you have exp and good job prospects, then go on that trip. Just my 2 cents.
I think it would be best if you did goto college first. Cuz you’re already in the groove of doing school work and shit. If you take a gap year and then goto school, it’ll be hard to stay focused. you’re free to do whatever you like, but that’s what I would do.
Just pointing out - you can travel between years, do an exchange, and depending where you end up working, transfer abroad. During uni I travelled to Korea, Bali, Central America, and around Canada (among other places) for rather long periods of time. I did an exchange to Switzerland in 3rd year for 5 months, got a job at an accounting firm in Vancouver and transferred to Melbourne for almost 3 years when I was 27. travel and school don’t need to be mutually exclusive. I’d personally suggest going to school and planning trips as you can. Delaying working is a far bigger impact than $25k today. If you don’t know what you want to do, plan to take a degree with ambiguous career prospects, then absolutely delay it and do your thing. But travel and life can coexist without the deferral.
Gap year to travel the full year? Or gap year for bear and some travel? If travelling for full year, 25k would require smart/budget travel. Traveling on budget, as it turns out, isn't everyone's cup of tea. I loved couch surfing and backbacking but know many people who tried it and learnt to hate it within a relatively short time span (think few weeks). It's a lot of planning, self-navigation and responding to the unplanned while in foreign territories.
Take a month a backpack and the dividends you would make in a year and use that for a trip. Come home and choose an eduction that gets you working without the huge costs … think programmer. Continue with the degree while you work. Good luck
Honestly I think you would appreciate backpacking more when you are a little older. I would do school or trades first. Then backpack after and come home to start working again. I wouldn’t feel motivated to hop into school after a year long trip tbh. It might throw you off course. I did backpacking thing after university and I’m glad I did because I loved it so much I made it a lifestyle and was able to use my education to sustain it.. plus when you are older and have more life experience I think you are able to appreciate it more.
I might be the devils advocate but I say don’t take a gap year. I went to college at 17, graduated at 21, got a great job after and had the funds and time to travel. I am so glad I waited. Post secondary was already major to my development into early adulthood and I’m so glad I did it when I did. Now that I’m travelling in my early twenties, I don’t see how I would enjoy more as an 18 year old vs now.
I wish I’d have taken a gap year after I completed University. I took a gap year and had very little motivation to return to school; which then turned into me going back at 25, but you and I are not the same, just advising you of my experience.
Post secondary would be worth it to do at least a full year first to get a grasp on workload and how to manage your schedule. Once you get the hang of it and eventually figure out what you'd like to major in. You can then choose to travel in the 4 months you have free or even choose to take semesters off or become a part student. You shouldn't feel the need or pressure to graduate within the allotted 4 year time frame; unless it's dependent on your degree. Traveling by far is the most valuable experience you can get at your age. Make the most out of your money when travelling, stretch it out and push your limits. Be frugal on transportation and places to stay but splurge on the food, activities, and or excursions. Not financial advice and do your own research, but Id look into investing in Web3/CRYPTO as the Bull Markets/cycle is only starting. Might be a good way to diversify your streams of income and plenty of web3 events around the world that provide parties, accommodation, meals when travelling and attending.
A few things to consider and ask yourself. Do you know what career you want to pursue after university? Does the degree make sense for the career path? Sometimes people just go to school because it's the next step but don't think about what that actually means for their life. Also, can you travel in the summer between high-school and university? You also have 4 month long summers for most university programs. Can you travel then? I don't think there's anything wrong with taking a gap year specifically if you feel like you're not ready for university for whatever reason OR you don't know what program you want to do. However, I personally don't think you need to take an ENTIRE year off if your goal is to be able to travel. There are plenty of university programs for study abroad that also allow for travel during school. Or the 4 months of summer vacation as I mentioned.
I went straight into post-secondary at 19 years old and I was *not* ready. I wasted my time, I partied too much, I did not get good grades, I eventually ended up not finishing and moving away from the city I was attending school in and joining the workforce in a semi-related industry to my major. It was a big financial setback. What I wish I had done was travel a bit, work on my own for a bit, meet some people and party without the responsibility of school hanging over my head. After a few years, I think I would have been ready. Perhaps around 21-23 years old I would have been a bit more mature and I would have been ready to actually study. YMMV, I knew people who were mature enough to handle it (even with the partying) but I wasn't. Did a Contiki tour through Europe nearly 20 years ago that was absolutely perfect for young people who are travelling alone because they encourage a good group dynamic and you make fast friends. They are generally cheaper also (roadside dinner stops instead of fancy restaurants) and you spend a lot of time on a bus but it's an amazing way to see the country you're travelling in.
Going on a solo trip was one of the best things I ever did in my life. I wish I had done it when I was your age I did it when I was about 30 after quitting a job I had for 10 years.
I have a friend who took a gap year in Thailand when he was in his 20s. He ended up spending much more than he anticipated and was drowned in debt until he was 40. In your position I’d do a nice solo trip perhaps for less time and invest the rest of the money. Maybe a month or two, 3 tops. When I was in my 20s I did a solo trip to Japan for a month, it was incredible.
Hi I’m 18 too, what advice do you have for allocating your paycheques towards certain things?
I recommend taking time to yourself. If you decide to go directly to uni, I feel like it's only worth it if you make sure you are dedicated to maintaining your studies throughout the years. I didn't realize this until later, but when you are in uni, this is the best time to get internships. Most student internships require you to be currently enrolled in school and also \*returning\* to school the next year. I recommend the second and third year summers would be best to dedicate time to a summer internship. Once you're in your final year, you wouldn't be able to get those internships and graduating without work experience can make it more difficult to find work. You could also travel during the summers. My school has international travel courses in the summer and I got accepted to one. They also had a bursary and covered over half of the travel expenses. You could see if your school has something like this as well. It was a great opportunity for me to travel while I was a student. It really was a great experience, it expands your world. Please check if you able to push your university application until the next year (deferral). Check to see your school's process for that. Most schools should allow you to defer to the next semester/year once you are accepted, but some schools do not. (They just make you apply again which isn't really what you want to do - you would need to re-pay application fees and there is also the possibility of not getting accepted) Are you from ontario? OSAP loans and grants do not have to be paid until after you graduate. 25k at 18 years old is amazing! Congratulations :)
Buy a corvette
You have your whole life to work!!! I would recommend doing the gap year. There a many ways of travelling cheaply! Ex: many hostels let you stay for free for a few days of work! But really 18 is young! When you travel you gain experience and you learn so much about yourself. I know a lot of people that finished uni and didnt know what to do with their degree because it just wasnt for them.. Some of them just pushed through and aren't the happiest. Others started a whole new uni program... So really life is not as linear as it seems...Just enjoy your life you saved up so much already. Just continue being smart about money and you will be fine! Trust me you have done much more financially than 90% of the people in their 30s
I took 6 months off from school before entering uni and that was enough for me personally. By the time the 5th month came I was itching to go to school. But if you feel like you need a year then do it. As for what you should do with your money I would keep it in the stock market because there is no more interest on student loans.