Travel is now an escape, a reward, and a passion for all and millennials—those born after 1980—are embracing this newfound love with gutsy attitude.
In fact, in a 2014 survey conducted by World Youth Student and Educational Travel Confederation and published by forbes.com, millennials now constitute 20-percent of international travelers. Additionally, by 2020, youth travellers from around the globe would be making 320 million international trips annually, a 47-percent increase from 217 million in 2013.
But contrary to the misconception that millennials tend to max out their earnings just so they can explore the country and the world, the current generation are actually getting smarter in handling their travel funds.
Take for example smart millennial travelers Adrian Cailao, JJ Se and Aia Tabal who share to The Manila Times their secrets on how to travel without incurring debt or draining one’s savings.
“I usually travel with a group of friends. We plan ahead, about a year in advance. We look for airline seat sales. We read blogs on budget traveling and we have a pool for travel fund,” Adrian Cailao explained.
Listing traveling under his core interests, this 29-year-old has explored much of the archipelago, experiencing the Philippines’ most beautiful for self-discovery and relaxation.
His colleague JJ Se agreed, adding that travel is a great means to expand his range of experiences.
“I’ve seen the hanging coffins in Sagada, experienced the culinary heritage of Central Luzon, and explored the underground river of Palawan. I also went on my first solo flight abroad to Malaysia and Singapore last year,” Se shared.
Se, however, is the first to say that dreams don’t just fall into one’s lap. When he isn’t out posting his adventures on Instagram, he is busy shuttling between his work in Alabang and UP Diliman for his graduate classes.
Fortunately, he has a colleague like Aia Tabal, who he can look up to.
Newly-graduated from Ateneo Business School, the MBA-Regis degree holder is now looking for a fresh set of adventures. “I plan to enroll in baking or cooking classes. For travel goals, I am planning my next trip to Australia and Maldives. My sister and I went to Norway just a few months back. Now, we’re drafting our shared travel list,” Tabal noted.
In addition to educating themselves with their desired destination, planning carefully and acing their day jobs to fund their wanderlust, these millennials said theyare investing on life plans to fully feel free whenever they travel. They further divulged that their Insular Life policies have helped them outline their adventures, without sacrificing their personal milestones.
“Honestly, I didn’t understand the importance of life insurance before. To me, it was something that ‘adults’ should get, in case something bad or unexpected happens to them. I didn’t know it as a tool that can help me fund my goals,” Se admitted.
Cailao, meanwhile, revealed that, at his age, he already has two years’ worth of financial tracking records. He uses them to strategize on his spending and investments, “If a travel would not fit the budget, I have to say ‘no’. I’ve learned to focus on my goals and now I am building up my insurance policies and investment profits to fund my next travel goals in Europe and America.”
Lastly, for Tabal, saving up for goals is just a matter of developing the right habits.
“I compute my expected cash inflow for the year, deduct expenses including and then plan out my trips,” Tabal finally tipped.