Budgeting
What's one of the cheapest housing options when traveling during a gap year?
Hostel
If you want to travel, you can join a program that plans everything out for you. True or False?
True
What percent of US students take a gap year?
1-5%
How many months should you have saved up for in an emergency fund?
3 to 6 months.
Define the 50-30-20 rule
50% goes to needs, 30% goes to wants, 20% goes to savings.
What can you learn from taking a gap year?
What percent of US students return to college within a year?
90%
What are the three things to ask yourself before using your emergency fund?
Is it urgent? Is it unexpected? Is it necessary?
Set a weekly/monthly budget
What are things you can learn while taking a gap year that improve your resume for future jobs or colleges?
You can write your essay on the experiences you, learning a new language, and volunteering can be a great point to lead with in interviews.
What percent of students travel during a gap year and experience other cultures?
85%
What are the basic expenses?
Rent, Utilities, Food, Transportation, Cellphone, Entertainment, Emergency Fund.
Whats the average range a gap year can cost?
$5k - $30k
Do students who take gap year become more motivated or less motivated in school?
More motivated
What percent of students gain work experience during a gap year?
28%
How much can you save if you live at home yearly?
Around $20,000 per year.
What takes up the most amount of money when you travel doing a gap year?
Flights to and from a destination.
Do students take gap years to minimize regretful student debt?
Yes, along with school burnouts taking a gap year can teach someone what they want to do, therefore they go to college with money saved and with a clear career choice in mind.
What percent of students explore study options during a gap year?
51%
What can encourage students to stay at home during a gap year?
The safety of being at home, having less responsibilities, more leisure with family, and already knowing your home town.