In these stressful times, a good holiday vacation in New York or out of the country is essential. People want to get away to visit family, see a new city for the first time or experience a different culture. However, money is quite often a serious issue. Few of us have enough saved to take a truly nice vacation. So what can be done? Well, to help you keep your holiday travel dream alive, following are six things you can do to finance a vacation.
- Take out a Loan
Taking out a personal travel loan is probably more common than you would believe. Countless households borrow a little money to finance their holiday travel plans. Credit unions, banks and loan offices all offer this service.
The main thing to focus on is the interest rate. Be sure to provide sufficient collateral to garner a low enough rate that the loan can be paid off in due time. Those who sign for high-interest loans often find their holiday dreams becoming lifelong nightmares.
- Save over Time
Perhaps a better move than securing a loan is to save the money. Begin early and save regularly. Some savvy households begin each New Year by putting away a little for their holiday plans each month.
For those who have waited until late in the year, saving may be too much of a sacrifice because of the large amounts required to meet the cost of a vacation.
- Work Extra Hours
Extra wages means extra money to spend on vacation. Just remember to actually save the earnings for the intended purpose. Quite a few people work longer, earn more and then spend the money on other things.
Also be careful about burnout. Many workers become so focused on making money for their planned vacations that they stress out and fail to do a good job. It would be a shame to get fired while trying to make money for the holidays.
- Borrow from Family or Friends
For those who cannot find another means of financing a holiday vacation, borrowing from family or friends may be the only option.
In most cases, loved ones want to help. To be fair to the lender, work out a definite repayment plan and stick to it. Doing so maintains the trust they had in you.
- Use Mileage Points and Frequent Stay Points
If you travel so much you likely break records, then perhaps you have points available with an airline, hotel or other travel provider. Call them up or visit the website to see how you can use the points. Free or reduced airfare and hotel rates are possible even during holiday periods.
If you are not a member of a specific program, then sign up now. Quite often airlines will give new enrollees a slew of points just for joining.
- Go as a Group
Groups always get highly discounted rates on travel. Check with colleagues and friends. There may be others who want to take a trip. It is always easy to find groups wishing to visit a casino or take a short cruise.
Do Not Give Up on Your Travel Plans
The main thing for you to do is to keep trying to find ways to finance your holiday vacation. Never give up. Just try the above six means of financing first. Furthermore, always stay within your budget. Going into serious debt can spoil things, turning the vacation into an albatross.
Above all, stay happy and keep the travel dream alive.