Finance

Financing the Trip of your Dreams

Yearning for a getaway but don’t know how to fund for the trip of a lifetime?

It might seem like an impossible task given how travelling can be an expensive effort these days. Even harder if you’re trying to entirely fund a solo trip on a budget.

There are many aspects to bear in mind when figuring out the process – including financial perspectives. We’ve pulled together a helpful guide:

  • Open a Vacation Account to Fund Your Travels

No matter the date or the destination, you need to first make sure you are financially able to support your trip from acquiring a visa to booking the hotel. This is why a vacation account sounds more sensible because the money you save up for your travels need not clash with your personal account. Moreover, you’re also working on a goal oriented mindset to make you think twice before you try to pull out any cash out of temptation.

Opening this account can be exclusively for all your vacations as you earn. Although it might take a while to reach the amount you intend to spend for the vacation, by extracting little by little from your paycheck it can be completely paid with no short-term or long-term debt attached.

  • Use the Right Cards for Rewards

Your local bank may offer cards with specific types of rewards that can benefit your travel costs and make it more affordable. Also, to qualify for these cards you need an excellent record of credits. Whether it is to earn or redeem cash back, (un)limited points, train tickets, airline miles or other special perks, there are cards that come with an annual fee. This isn’t anything harmful unless you’re getting the most out of the card rather than being charged for it. To note, it is wise to opt for a card with low interest rate ensuring  it is the rewards are utilised before it ends because some cards do have an expiration date tagged under them. We offer different agent banking solutions that benefit the customers and what they are actually looking for.

  • Spend Wisely While Travelling

Let’s say you’ve already embarked on that trip after all the preparations. Make the best out of it and depending on your spending habits, go easy at the same time.  Of course,  it would look easy to splurge now that you’re on holiday and feel you deserve it, but staying away from regrets piling up when you get home to the credit card bills is a lot more valuable. Look out for free activities and entertainment plus create a daily budget spend planner if you want to cover on shopping. Because nothing sounds better than setting limitations while enjoying yourself where money is main.