close
Magazine
Advertisement
 

How to pay for your holiday

Follow these practical tips and your dream getaway may be more affordable than you think.

How to pay for your holiday
Advertisement

What can I afford to spend?

Your annual holiday should cost about a week’s salary, but the price depends on your fixed expenses (housing, transportation) and lifestyle choices. The most common mistake is underestimating expenses. As you create a budget, include meals, taxis, souvenirs, tips and the unexpected. Financial expert Grant Cardone suggests setting aside an extra 25%.

Should I use my credit card?

No! Charging travel expenses that you can’t immediately pay back isn’t the way to go. “You end up paying much more than the cost of the trip,” warns Mackey McNeill, accountant and author of The Intersection of Joy and Money. “You can end up spending 50 to 100 per cent more.”

Set up a savings account?

Yes. Determine how much you can afford to save. Then have money automatically deducted from your salary and put into an account that you forget about until you use it. “It won’t earn much interest, but it’s more effective than stuffing notes in a cookie jar,” says McNeill.

But I never have the cash for a holiday?

Don’t despair. You may be able to secure lodgings for next to nothing by swapping digs with someone who lives in your dream destination. For a small monthly fee, you can list on homeexchange.com or lovehomeswap.com. The more detailed the description of your home, the more successful you’ll be.

Source: Budget Travel


Advertisement
How powerful is your passport?

How Powerful is your Passport?

Being a citizen of which country in the world is a golden ticket to global access?
Help! I’m Travelling with Kids!

Help! I’m Travelling with Kids!

Travelling with kids can be very stressful – here are 8 tips to help you out with that.
How to Travel Responsibly

4 Ways To Ensure You Travel Responsibly

To truly enjoy your holiday, make sure you’re supporting the local economy in the right way.
Travel Checklist

Avoid Pre-Holiday Anxiety With Our Travel Tip Checklist

Nothing's worse than that sinking feeling you get when you head off on your adventure and remember you left something important at home. Keep your angst to a minimum and use this handy travel checklist.
Culture Of Kawaii: Japan's Obsession With Cute

Culture Of Kawaii: Japan's Obsession With Cute

In Japan, Hello Kitty is more than just a sweet white kitten.
Advertisement