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Almost anyone can volunteer. If you're aged between 18 and 75 you're neither too young nor too old. If you're over 75, talk to your sending agency (and your travel insurance company) and come to an arrangement.
Some things to take into consideration before deciding when to volunteer: the climate (might want to avoid the wet season); the timing of your volunteer project (no point in trying to teach during school holidays); and at what point during your travels you want to volunteer (maybe at the beginning of your gap year or career break so you can travel with the friends you've made on your placement).
It often comes as a surprise to would-be volunteers that giving up their time isn't enough. In the majority of cases, you also need to pay to volunteer. There are a number of reasons for this: administrative costs; training; board and lodging; in-country transport and providing funds for the project.
The cost of volunteering varies considerably. It usually depends on the volunteering experience you want (conservation and wildlife projects are more expensive to run) and how long you're going for.
It is important to understand where your money is going and who pays for what. Ask for a breakdown of costs if one isn't readily available.
Having said all this, some volunteers don't pay anything to volunteer and are also paid a small monthly stipend. This is the case with many of the skilled volunteer placements with organisations like VSO, Skillshare International, Médecins du Monde, IESC Geekcorps or the Peace Corps, to name but a few.
Anywhere. Volunteering opportunities exist on every continent, except Antarctica. The majority of volunteer placements are in Africa, Asia and Latin America. You can volunteer in almost any geographical environment - cities, rural areas, small villages - and you can also volunteer in jungles, rainforests, deserts or on underwater (marine conservation) projects.
Some volunteering holidays will let you volunteer for less than a week; at the other end of the spectrum, some skills-based or faith-based charities expect a volunteering commitment of two years or more.
Find out your hours before you go. On most volunteer programs you are expected to work full-time, five days a week with weekends off. Sometimes, though, you may work a six-day week. At times, the hours might be longer.
When choosing a volunteer organisation it is always wise to ask about in-country support and find out how 'local' the local support really is. Are we talking about a person just down the road or a hundred miles away looking after dozens of volunteers? If there's a medical or security emergency you need to know that the organisation you're volunteering with has up-to-date plans and procedures for dealing with these. Ask before you go.