What is your idea of summer vacation? Would you like to travel within India or does overseas travel interest you? The choice is yours. Plan your Vacation in advance as it can save you a lot of money on transportation and accommodation.
How do you plan your budget for a vacation?
• Air tickets are cheap when you book them early. Use your Credit Card to book your air tickets and avail benefits of airline miles reward points. You can redeem them for attractive discounts.
• Booking your accommodation in advance is also beneficial. You get an extensive choice of hotels at a cheaper rate as well.
• The advantage of planning is that you can start saving for your vacation. You get an idea about your expenses and can therefore set aside a specific sum every month towards your vacation budget.
The purpose of your vacation
People go on summer vacations for a lot of reasons. It can be to experience a change of climate. You want to experience different cultures. Some people love sightseeing. Depending on the purpose of your vacation, you should focus your expenditure.
If experiencing a change of weather is your focus, you can find a lot of cheap travel destinations locally as well as abroad. If you want a resort-like vacation, accommodation should be your priority. Early booking of your hotels can help in this regard.
Credit Card reward points can come in handy
Take advantage of the Credit Card rewards programmes. Credit Cards companies offer reward points depending on your usage and repayment pattern. Accumulate these reward points and use them to avail discounts on your travel and accommodation plans.
Signing up for an airline rewards membership programme is also an excellent way to get attractive discounts. There are unique Credit Cards that can you use to book airline tickets alone. On the accommodation front, you can become a member of a hotel chain and avail the benefits of exciting offers and discounts.
Make your Budget
• Estimate your expenses:
A summer vacation budget is a list of probable costs you could incur on your summer vacation. It also contains information about your plans to meet these expenses. Chalking out your budget is quite simple. You can segregate your costs and plan.
Estimating your travel and accommodation expenses is easy because you can book your tickets in advance. You get an idea about your costs in these areas. Determining the expenditures for food can be a tricky affair. However, you have websites like Yelp.com to help you out in these matters. You can do some online research. Hence, estimating the probable expenses for your activities and experiences should not be difficult.
• Make provisions to cater to these expenses
Set aside a fixed sum of your monthly income towards these expenses. If possible, maintain a separate bank account and set up auto transfers. It will save you from the difficulty of remembering to transfer the sum every month.
Your principal aim is to go on the dream summer vacation. Naturally, you have to sacrifice something. Reduce your monthly expenses by eliminating unnecessary ones. You can postpone your fortnightly trip to a restaurant and save the money for your summer vacation instead.
• Try taking a Personal Loan
Banks have various products to finance your vacation travels. They are usually in the form of Personal Loans. If you have a good credit score and can afford to take a Personal Loan, you can always explore this option. You can also Apply online for Credit Cards. Banks are liberal in sanctioning personal loans and credit cards to people with good credit scores.
Also Read: Has Your Credit Card Request Been Rejected?
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