Let’s face it, we all love holidays. In fact, Brits are estimated to go on 1.3 holidays per year. Yet a few weeks in the sun may not be quite enough. If feel like you need a break, then a sabbatical year could be for you. Perhaps you’ve been doing your job for a while. Career breaks are becoming more commonplace, a sabbatical is an extended period of time spent away from work.
Although in an ideal world you’ll be paid, that’s not always the case. If you’re looking to go on a sabbatical and are looking at ways you can fund it, read on.
1. Use your savings
If you have money set aside, this can be a great way to fund your trip without getting into financial difficulty. Although if you haven’t got any money saved yet, don’t worry!
Perhaps your sabbatical is a few years down the line, start saving now. By putting aside a small amount each month, this soon adds up and might go further than you’d think.
2. Ask your employer
With a fifth of workers planning to quit their jobs in 2022, many employers are looking to keep their staff sweet. So, if you haven’t already, it’s worth asking your employer if a sabbatical is something they offer. If you’re lucky, they might be able to offer partial funding to help towards your leave
without any salary sacrifice.
If it’s not a current benefit, it’s worth having an honest conversation with them to see if they can make your sabbatical a possibility.
3. Work through your Sabbatical
Although it’s not technically a sabbatical if you’re working, consider getting a job to help pay for your sabbatical. Rather than taking your laptop abroad with you, you might want to consider getting a part-time job that’s completely different from your 9-5. That way, you still come back feeling refreshed and rested.
4. Consider a loan
If you’ve exhausted your other options and you’re looking for an alternative way to fund a sabbatical, you might wish to look into a personal loan. Although ideally, you’d use your savings, loans can provide a viable option.
However, if you’re going down this route, you must work out the repayments before you commit to this option – and only get a loan that you’re comfortable paying it back.If you’re feeling the effects of burnout, sabbaticals are a great way to give yourself a much-needed career break.
Remember that sabbaticals aren’t come cheap! Luckily, there are plenty of ways you can fund your trip. Whether you use savings, take out a personal loan or convince your employer to foot the bill, you’re sure to have the trip of a lifetime if you go down the sabbatical route.
Photo by Ethan Wilkinson on Unsplash
If you’re feeling the effects of burnout, sabbaticals are a great way to give yourself a much-needed career break. However, sabbaticals don’t come cheap!
Luckily, there are plenty of ways you can fund your trip. Whether you use savings, take out a personal loan or convince your employer to foot the bill, you’re sure to have the trip of a lifetime if you go down the sabbatical route.