Holiday Finance – All Your Options

1

If you’re looking for options to finance a holiday, look no further! We’ve got what you need to know, below.

We all need a trip away, but without the cash to back it, it’s unlikely that you’ll even get on the plane. Yes, a trip away isn’t a luxury everyone can afford – because of life. Sometimes, you find yourself having to pay out for things you thought you wouldn’t have to, and then your holiday fund goes from nearly there, to nearly gone.

Luckily, where there’s a will, there’s a way. Yes, you can finance a holiday for yourself or your family pretty easily nowadays. Anything from a good credit card or even bad credit guarantor loans, there’s a way to get away for a holiday.

Before we get into the post, we advise that you always seek independent financial advice before taking out a loan or any other form of credit. Borrowing money that you can’t afford to repay can leave you with some serious money problems – so, always ask the expert financial advisors.

Now, let’s get down to it.

Holiday Financing Options

Below, you’ll find some examples of ways to pay for your holiday.

1. Credit Cards

When it comes to booking your holiday, you can use your credit card to pay for the trip. Although it’s not ideal, most credit cards have a fairly low APR, which means you won’t be paying a great deal of interest on your trip. However, your credit rating affects the rates you’ll receive on credit cards. You should always try and use your credit card to pay for flights and hotels, as if anything goes wrong you’ll be more likely to get the money back. If you’ve got a credit card with a relatively low interest rate, then it’s ideal to use to book your trip.

2. A Loan

Another way to finance your holiday abroad is to take out a loan. Whilst it may seem silly to take out a loan just for a holiday, you can borrow lower amounts at a fair cost. See, even if you have good or bad credit, there’s a loan option open to you. Some lenders will let you borrow money with an APR as little as around 8 – 20%, dependent on the lender. However, that is for those with good credit. If you’ve got poor credit, you may benefit from a bad credit guarantor loan. These kinds of loans don’t require a credit check, so you can borrow money for a holiday even with bad credit. See, guarantor loans rely on a guarantor to support your application. The interest rates are between 39.9% – 69.9%, which may seem high in contrast. But these are some of the best rates you could receive with bad credit. Like we said before, always seek independent financial advice.

3. Savings!

You could always try and save up some cash to go away with. Whilst using a loan or your credit card is a simple and quick solution, saving will keep you out of debt and away from borrowing money you don’t have. All it takes is a little patience. There are little things you can do to save money for your big trip away. Cut back on weekly spend or try and save £50 or so a week. It may take a little longer, but the holiday will be much better if it’s not paid with borrowed cash. So, if you can wait… wait!

Holiday Saving Tips

So, no you know how you can pay for a holiday, let’s talk about keeping the cost of the trip down.

Your destination can be one of the most expensive aspects of your trip. If you’ve opted for a city break, these will typically be more expensive then another type of holiday. Hotels in the city centre are more expensive, so if you can, try staying on the outskirts and travel in to the centre. It will save you money on your trip and accommodation.

The duration of your stay may be another thing making the holiday more expensive. Obviously, the longer you stay aboard the more it will cost, so, try shaving down your trip time in order to accommodate your budget.

Look at different forms of travel, whilst a flight may be the most convenient, you can use the trains, coaches or even take a ferry to your destination. These methods may take longer, but they may help you save some serious cash to use for your accommodation or spending money instead, so always consider it as an option.

Another key piece of advice is to try and book early! The earlier you pay for your trip, the cheaper it will cost. Flights and hotels booked in advanced are some of the cheaper ones. Also, last minute trips can sometimes be just as cheap. It’s always worth shopping around for the best deal before you go away. Sometimes, it can all be about timing.

When it comes to saving for your trip, try keeping it somewhere out of sight. A watched pot never boils, so watching yourself fill a jar with notes and coins may never add up as quickly as you want. Plus, if the cash is there in front of you, there’s the temptation to spend it. So, keep it in a separate account. There’s so many apps designed to help you save money, so utilise them in the quest of paying for your holiday.

Finally, setting yourself a precise budget for a trip can help keep the costs down. By planning out and calculating exactly what you can afford to spend, makes the trip more manageable – financially.

Whilst there are many ways to pay for your trip abroad, some are more ideal than others. The security and safety of using a credit card is ideal for a holiday, but no paid off quickly, those costs can increase. As with a loan, the interest gained on top of the loan may end up equalling the cost of the holiday alone. So, it’s key to always seek advice before using any credit methods to pay for a holiday. The safest and most sensible way is to try and save on your own. If you follow the holiday saving tips, to decrease the cost of your trip, it could take less time than you think. All it takes a little patience and some smart decisions to save up that holiday budget.

Share.

About Author

Dee Carreon

Mom Blog Society guest writers are comprised of men and women who feature brands from around the world. They encompass our vision to utilize the power and potential of the Internet to connect consumers and brands around the world as never before.

Leave a Reply

1 Comment on "Holiday Finance – All Your Options"

avatar
350
  Subscribe  
newest oldest most voted
Notify of
how to play a dvd on windows 10
Guest

If you don’t know about how to play a dvd on windows 10 then visit here and get online tutorial for this.