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| What to do before you set out on an around-the-world trip |
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| Author: Rebeca Walsh | Posted: 2009-01-22 21:17:53 | Comments: 1 | Views: 261 | Contact With Author |
| Detail: |
When you decide to take an extended trip around the world, you have to account for the belongings that stay behind. How can this be done? Here are a few ways you can go about this challenging task.
- Refinance your home in order to get a lower monthly mortgage payment. As the softer housing market may not allow you to sell your home before leaving. by decreasing your house payment, you will be able to rent it at about a break even price. Moreover, your investment will be secure, the tenants will be taken care of, and you will have a home to return to.
- Be open to selling our home. Any money made from the sale of the home should be set aside as "re-entry" money and not used for the trip. If you sell long before moving, you should be able to rent for half of your mortgage payment and save additional funds for the trip.
- Sell the car, preferably close to the travel date. The money will be set aside as "re-entry" money in case you need to buy another car.
- The furniture and household items like dishes and towels, can either be sold, or kept in the house if we figure you'll rent later. Any large items sold should go into the "re-entry money" fund.
- Put in storage all artwork, jewelry, sentimental items and clothes not going on the trip. As you would eliminate everything else through sale and/or furnished rental, this would ensure a very small storage space with a low monthly fee.
- Leave the pets with good friends, and set aside money to give to them for food, vet bills, and general care.
- Photos and important documents should be scanned and stored on your PC/laptop. Any prints of sentimental value should be sent to your family for safekeeping.
- Large sentimental items that won't fit in storage, should again be given to family for safekeeping.
- All the remaining items - books, golf clubs, furniture no longer needed, should be sold/donated as soon as you can. By doing this a little bit at a time now, it will not seem so overwhelming before the big trip. And it will make it easier to adjust to less when the process is gradual. It is a good idea to use this money in your trip, particularly if you don't want to reclutter on returning.
Leaving on an around-the-world adventure is an exciting venture and presents many new opportunities . However you need to ensure that the details surrounding departure are discussed way in advance and have a plan in place. |
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