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Graduates looking to take a gap year after they qualify may be putting themselves under more financial pressure as costs rocket, according to new research.

A study commissioned by the Fair Investment Company found that the average gap year now costs more than £4,000, but the majority of students expect to spend between £1,000 and £3,000.

Half of travellers taking time-out after their studies feared they would return to the UK with debt.

Spokesperson for the Fair Investment Company, Rachael Stiles, said: "Money can be a real worry when planning a gap year, as flights, accommodation and living costs soon add up."

"Try and save as much as you possibly can before you go away, preferably in a high-interest savings account," she added.

Other money-saving tips for backpackers suggested by Ms Stiles included budgeting properly, using pre-paid credit cards and saving on insurance costs by opening a current account that offers free travel insurance.

According to gap-year.com, many people from pre-university students to retirees consider taking a working gap year.

Find and apply for gap year jobs through the Gap Year Job Search, or use the All Jobs Search to find other types of student job vacancies and work opportunities.