How to Fund Your Sabbatical Trip

We already know the reality: a paid sabbatical is a rarity in the non-academic work arena.

So after exploring the possibilities of getting some employer pay while you're away, it's time to figure how you'll fund the rest.

Sure, you'll probably dip into regular savings as you would for any big trip, but you don't want to ravage your reserves.

So begin to brainstorm ways to build separate savings to cover your unpaid weeks of leave and the expenses of sabbatical travel itself. To kick-start your thinking, I've listed a few obvious and not-so-obvious options.

The Obvious

Sell some stuff. Got clutter? Time to trade things for a special sabbatical experience. Private classified ads through the newspaper or Craigslist.com usually bring in better prices than a yard sale. If you or someone you know is an experienced online seller, either auction or direct buy, you could go that route.

Trim expenses. Duh. That's a way to grow any type of savings surplus. What are you willing to sacrifice temporarily for your six weeks off? Meals out? Season tickets to whatever? A new toy? (More stuff!) It all adds up, so start socking it away.

Charge your kids market-value rent. I'm talking about any able-bodied 20-something who is living with you for free or pretty close to it. Enough said.

Save for it. If your employer offers automatic payroll deduction, budget a percentage of your earnings to be placed into a separate “sabbatical savings” account. Otherwise, do the same thing yourself each payday.

The Not-So-Obvious

Surface hidden money. Go to unclaimed.org and see if there's some for you. Okay, this is long shot, but it's free to find out. And if it's not free, you're probably at the wrong site. Double-check the Web address to be sure you're not at a fee-based look-alike site.

Rent a spare room. If you have a vacated bedroom, consider renting it out for a six to 12 months. Put the word out among your nearby network before posting ads.

Stash your gas money. Take public transportation for a while or...

...if your commute to work is to simply reach a desk in order to use a computer and a phone, do it from home a few days a week instead. Submit a proposal to telecommute and sequester the gas savings into your sabbatical savings account.

Request donations. If your time away is devoted to a genuine humanitarian endeavor, you may find co-workers, church members and friends willing to make modest donations to help support a volunteer vacation or short-term missions trip.

Moonlight Get a temporary part-time second job or, for more convenience, start an online business based on your interests and passions that can generate passive income.

What NOT to Do

Don't borrow money to fund your sabbatical. Taking on debt is virtually never the answer. Instead, modify your timeline or your plans—or both—to fit your budget.

For example, a volunteer vacation in Appalachia instead of Asia may match your budget better. Cultural or culinary travel in Mexico rather than Morocco might be the way to go.

If you don't want to compromise your destination, then defer your leave until your sabbatical savings amount reaches your goal.

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