Plan my OE

Smart ways to plan your overseas experience

Fund your travel the smart way 

A key part of planning for your OE is finding a way to fund it. The cost of travelling can get expensive, so it helps to do some planning in advance so you can make the most of your time away.

  1. Add up how much it might cost - get an idea of what all your costs might include while you’re abroad. Beyond the big things like flights and accommodation, you might also want to consider other important things for your day-to-day life like phone bills and fees for currency exchange.
  2. Decide how you’ll pay for it - it’s a good idea to save up enough money beforehand to pay for your entire trip.
    You may have the option to pay for your OE with credit. This could help you get overseas faster, but you’ll be paying interest so your trip will ultimately become more expensive.
  3. Consider getting an income stream while you’re abroad - this could be an option for you to maintain your funds by working at your destination. This can also help you get a great insight into the place where you choose to go.
  4. Keep an eye on your funds - it helps to have the means to check your bank balance online while you’re abroad. It can be hard to predict your spending habits when you’re in a brand new place.
  5. Understand your student loan - if you're going to be away for more than six months make sure you understand how interest will be charged on your loan while you're away, and when repayments will be due. You might want to apply for a 12 month repayment holiday or to appoint someone, say a parent, who is legally able to talk to IRD on your behalf.

Putting a safety net in place

Travelling can be a life-changing experience, but sometimes things don’t go to plan. When you're on the other side of the world it's nice to know you have some protection in case of the unexpected.

Travel insurance is a relatively inexpensive way to insure your belongings, money and health costs. It’s especially important if you're traveling to countries where losing your gear, or becoming sick or seriously injured could leave you in serious trouble.

It’s a good idea to have some level of travel insurance cover before you depart. 

Keep something in your back pocket with KiwiSaver

You may not be able to contribute regularly to KiwiSaver while you’re away, but for every dollar you save, the Government will contribute 50 cents, up to a $521.43 per year in Government contributions.

So, if you put $1,043 in to your KiwiSaver account each year while you’re away, you’ll come back to a sizeable contribution from the Government.

Contributing to KiwiSaver is a great way to set you on the road towards saving for your first home. If you are considering buying your first home when you get back from your OE try to put some of your earnings into your KiwiSaver account to gather interest while you’re away.

Find out more about ways to use your KiwiSaver savings.

Seagulls flying against a blue sky

Learn more about budgeting and saving

Get travel insurance through AMP

Find out more

How does general insurance work?

We make the claims process easy

Find out more
Straw bag and red and white cap lying in the sand

Important information

Show more

The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.