Recently I saw a video on Year Gap. When you should take it and what you should do it?
For those of you who don’t know what Year Gap is, let me give you an idea. Year Gap is the time you take from your studies or professional life to explore yourself to get clarity on your life. This will help you decide, what you want to do after the Year Gap.
The best time for the students to take a year gap is when they are about to join the college after they finish their 12th. Students should explore the career options for them when they don’t have clarity about what they have to do. Year Gap is not something which gives you time for your studies, if you don’t clear any competitive exams, it is the time to try new things.
Professionals can take a year gap anytime during their professional career. This will help them if they want to take their career to a different path and explore new options.
The best thing to do during the year gap is an Internship. This is applicable to both students and professionals. Don’t think about the Stipend, think about learning new things. Do multiple Internships during the year, you will get full clarity about yourself and your future and career.
Coming to the main topic, are you financially strong to take a year gap?
For those of you supported by their parents or relatives, there will be no issues for them. What I think, is to prepare a budget for your year gap by analyzing your current expenditure. Keep in consideration, what all things you will be doing during the year. It can be Internships, Travel, Photography, learning a new skill, etc. Invest for your year gap so that you only focus on the tasks you will be doing not the financial problems.
This will be my Year Gap plan, what is yours? Let me know in the comments below – (Currency – INR)
Salary – 25000
House Rent – 7000
House Expense – 2000
Food Expense – 4000
To Family – 5000
Saving for Year Gap – 7000
With this analysis, my monthly expenses are House Rent + House Expense + Food Expense = 13000. Yearly expense = 13000 x 12 = 156,000. This is the amount, I want to invest for my Year Gap using my Savings per month. Savings for the Year = 7000 x 12 = 84000. This investment for 1 year is not sufficient. Let us invest for 2 years, the savings will be 84000 x 2 = 168,000. Now if this savings I have, then I can afford to take the gap year.
This can vary from person to person and what they want to do. I want to write during the gap year. Explore me in writing. I love to write stories and technical blogs.
Thank you All!!! Hope you find this useful. Do take your Year Gap and explore yourself. Take time for yourself.