close
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
Turn your dream into reality at Daydream Island Resort

Turn your dream into reality at Daydream Island Resort

Dust off the suitcase and prepare to hit the beach. Daydream Island Resort is ready to reopen in 2019 following an extensive $100 million renovation.
Say goodbye to airport boredom with these global wi-fi passwords

Say goodbye to airport boredom with these global Wi-Fi passwords

Blogging genius Anil Polat has created a map with Wi-Fi passwords from hundreds of airports around the world. See if there's one near you.

Travelling during a storm?

Travelling during a storm?

What to do when your travel plan is disrupted by natural disasters
What to look out for when buying travel insurance

What to look out for when buying travel insurance

Make sure you’re adequately covered during your travels by closely reading the fine print
Advertisement