Posted by The first stage of a vacation starts with the inspiration to travel. For the Brits, holidays are one of the major highlights of the year. Whether it’s a city break you are considering or an exotic lifetime trip – you have to plan each and everything to enjoy your much-needed time off. Every one of us wants to enjoy, and travel but sometimes, we take a backseat. The reason for that is – MONEY. Yes, travelling needs money.
Loans for Holidays are an affordable way to finance your vacation if you do not have enough savings. By opting for a loan to help you cover the cost of your holidays allow you to spread the cost of the repayments over several months, helping you to maintain your personal finances. Nobody wants to go on a lifetime trip and live the rest of the month on a holiday hangover.
How to Plan for a Holiday?
Choose the Destination
Understand yourself. That’s the key which will unlock the answer that we dread to know – where should we go? Plan the destination according to your mood. Understand the purpose of your trip, do you want to rejuvenate? Do you want some adventure? or, do you want to spend some time alone for introspection? The purpose must be clear to decide on the destination.
To help you, we have listed down top 5 summer destinations according to Thomas Cook Holiday Report 2019:
- Spain
- Turkey
- Greece
- USA
- Cyprus
Know your Budget
Preparing a budget for your travel expenses will help ease the financial burden. The amount of money you spend on the trip is important for your financial health and peace. While preparing the budget, take the following things into consideration –
- the number of days you will be on vacation,
- the total cost of accommodation,
- the amount you should spend on food and wine and,
- the amount you have to spend on transportation
The above-mentioned pointers will give you a realistic estimate of the total expenditure.
Also, if you know your budget beforehand, you can plan the trip accordingly. Your choice of accommodation may vary according to the funds available with you. People who take out Holiday Loan in the UK find it easier to spend the money they have received. Why? Because if their loan application is approved, the lender disburses the amount to their bank account at times on the same day. They can withdraw the cash before leaving for the trip and spend it in the manner they wish to.
Spend Wisely
Splashing out all the money while on vacation is the easiest thing to do. But in order to maintain your personal finance, you need to control your expenses.
- Do not go over the board while on holidays.
- Know what to spend and where. Create an expense tracker
- Even if you have borrowed a loan to finance your holidays – don’t forget that it’s you who has to make the repayments. The more you spend – the more you have to repay because repayments will also include interest fees.
- If you are visiting a foreign country, know the exchange rates so that you do not end up spending over your budget.
Why Should You Choose a Personal Loan for holiday Over a Credit Card?
The expenses of travel and accommodation are usually quite simple to calculate when planning a holiday – however, it’s a lot harder to figure out how much you are actually going to spend on while withdrawing money. It is a widely known fact that holiday expenses can differ significantly – from nearly nothing to a few thousand pounds. With a credit card, there are some additional costs that you have to bear while withdrawing money. And how you choose to pay for the expenses can add a substantial amount to your total spending. But with a no guarantor holiday loan, you may get the money on the same day in your bank account and you can withdraw that money easily without any extra charges.
Always remember that not all credit cards are the same. Different cards have different features. Some credit cards carry an international finance charge that is levied for any purchase that you make while overseas. While if you carry cash with you while on the move, the whole thing becomes much easier. You can spend only what you have. This will also minimise the probable chance of getting into debt as you will only spend the amount that you have.
Moreover, if you use cash from your savings and holiday loan for your transactions, you do not have to pay any extra fees and in that way – you are helping yourself by saving some money.
Find a Personal Holiday Loan in the UK That’s Right for You
Oyster Loan is an FCA regulated credit broker. We can help you by finding the right holiday loan deal for you. All you have to do is fill a straightforward application. Before applying for a loan, take care of the below-mentioned pointers
- Never take out a loan because it is readily available.
- Know your requirements and then opt for a loan after carefully gauging your affordability.
- A personal loan is specifically designed to meet the precise needs of the borrower. However, the money borrowed has to be repaid within the agreed timeframe.
- Explore and shop around while you are on the lookout for a holiday loan.
- Check the interest rates, APRs, Terms & Conditions to understand what the loan has to offer you. Make your decision based on your repayment eligibility because if you fail to meet the repayments on time, your credit score may get
To apply for an unsecured holiday loan with us, Click Here.
