Opinion: How to Save Money for Vacations!

Tanya Singh

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Are you ready to put your vacation mode on and get in a flip-flops state of mind? That’s great! But financing your trip with appropriate funds might be a lingering worry on your head. Whether planning a long holiday or a brief gateway to a casual or exotic destination, you can always get a holiday loan. But that’s not the only solution!

It’s essential to save money before and during your travel so that you need a minimum travel loan and make maximum memories! But how do you do it? Keep reading this post!

6 Smart Strategies to Save Money for Your Holiday

Following are the 6 money-saving tricks to apply while planning your holiday:-

  1. Plan a Suitable Budget: A custom-made budget for your holiday is as important as a tailored suit for a grand party. So consider your income, savings, and the amount of personal loan you can get for a vacation to create a detailed budget. Your mandatory expenses also need to be considered as they need to be fulfilled before you take out money from your income to travel. Consider comparing loans from different lenders to get lowest rates and longer repayment schedule. You can cut off some non-necessary elements from your monthly budget (especially when you are not going to be home for some time).
  2. Pay Monthly for Your Holiday: You must’ve used or heard about the auto-debit system to transfer money for savings and EMIs. This method is highly successful as the amount gets detected from your account each month without you having any say in it. You can save money for your holidays in a similar fashion. Make arrangements for a set amount to get detected from your current bank account atomically. In this way, you will gradually save a good amount of money for your holiday without realizing the burden.
  3. Do Research Before Booking Anything: Whether flight booking or hotel booking, you can always use some ticket booking hacks. And you must use them because you are not doing all the savings to pay where you don’t need to. Surf different websites and compare packages. Also, calculate any money you can save by booking a hotel and flight separately or together. Some airlines and hotels are famous for being cheap. Find out their rates. However, your flight and hotel cost also depends upon your destination.
  4. Choose Your Time of Travel Carefully: Hotels and flights are flooded with bookings around school vacations or the holiday season. If you don’t have kids or you can somehow manage their studies, avoid traveling in these months. Airlines and hotels raise their price to mint maximum profit in these months. Plan your holidays during slag time when you can easily crack a deal with airlines and hotels. This simple trick can save you a lot of money to splurge over doing what you love to do during your holidays.
  5. Designate a Special Jar for Change: It might sound like a piggy bank kind of thing hence a futile endeavor. But you will be amazed to see the fund you can gather only by keeping the change aside for a few months. You just need to ensure that every family member, including yourself, drops any change they’ve got into the change jar. You won’t get a hefty sum out of this change jar, but you can have your meals or adventure sports taken care of with this change.
  6. Avoid Booking Direct Flights: When you search for flights, you will find 2 types of flights; direct and the one that stops halfway before your holiday destination. You would want to go with the direct flight for convenience. But because direct flights are more in demand, they are the expensive ones.Buying tickets to the flight which stops midway is a significant booking hack to save money. They can be a bit uncomfortable. But it’s worth it in front of the money you save by avoiding direct flights.

Signing off!

These clever tricks will help you save money on less-necessary things so that you can freely spend money on the kind of destination you want to visit or the activities you wish to do. And you can always fill the gap between the budget of your dream vacation and your savings with the help of readily available travel loans. Happy holidays!

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Tanya Singh works as a Content Marketer at LoanTube - a loan comparison marketplace where borrowers can connect with multiple lenders via a convenient and transparent application. She writes about topics related to personal finance and loans helping

California, MD
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