How to finance your dream travel plan

COVID-19 has changed the way we travel. It isn’t just the trips we book and the safety measures we seek, but travellers are no longer putting off dream travel plans. More people are booking their dream travel plans rather than waiting weeks, months, or even years when they feel more financially stable.

There are a variety of ways to finances your dream travel plan without breaking the bank. Properly financing your trip doesn’t take much work, but will force you to do some specific planning to get everything in line. Here, we will take a dive into how to finance your dream travel plan and book the holiday you want now!

Saving Money

The simplest way to generate the finances for your dream travel plan is to save money. In fact, this is your first step regardless of how you want to finance your dream travel plan. You need to assess your financial plans and options before ever booking a holiday. This will allow you to choose where you will go and how to get there. You will also know how much money you have once you arrive.

In addition, assessing the amount of money you have coming in over the next few months will also help you get an idea of the holiday to book. After you set a budget, you will know how much money you need to save each week. When budgeting for a trip, consider: the destination, transport fare, and the amount of money needed for food and drinks.

Personal Loan or Credit Card

Personal loans and credit cards are two of the most popular ways to finance travel plans. A personal loan is great for funding a holiday as it gives you a fixed amount of money and a schedule to repay it. You will also have a fixed interest rate. Company’s such as Earnest.com provide you with a personal loan to travel before you set off. You then have the money in your bank account to spend before or during your trip.

A credit card is different as it allows you to borrow money while on the go. You can use your credit card when needed and you don’t have all of the money transferred to your bank account at once. You only have to pay back the money you used rather than a whole personal loan. Credit cards may come with a higher interest rate than a personal loan, however.

Low-Budget Travel

Getting a low-priced vacation isn’t always difficult if you know how to shop around. One of the best ways to travel for cheap is to use a budget airline. Budget airlines may have added fees for luggage and food, but you will save an incredible sum on the actual flight.

To get the cheapest airfare, you may need to book your dream vacation to one of the main destinations a budget airline travels to. For example, it is often cheaper to fly to Dublin on Ryanair than to anywhere else as the Irish city is the hub for the airline. Be sure to book in advance as it is typically the cheapest way to travel.

Work while on vacation

The great thing about the world today is that you can practically work from anywhere in the world. Remote working allows you to take your laptop with you to work while being somewhere other than your office or home. If your job allows you to work and travel at the same time, then this may be one of the best options you have for financing your dream travel plan.

Work while traveling to finance travel

If you don’t have a job that allows you to work remotely, then you may look into working a part-time job while on vacation. There are places in other countries that allow travellers to work for a few days or weeks for a small wage. You may even find a place that allows you to receive full or part room and board. For example, there are farms and cattle stations in Australia that invite travellers to work for pay during their trips Down Under.

Consider your accommodation options

There are a lot of accommodation options available and there should be one to fit your budget. Of course, the top choice these days for a great trip is Airbnb which gives you the chance to live like a local. Hotels in the post-COVID-19 world are likely to offer deals and incentives to bring back guests. So, you might find a package deal that is cost-effective.

There is also the popular website CouchSurfing.com. Although you may have some issues with staying at the home of another person post-COVID-19, which may not have the same cleaning rules as a hotel, CouchSurfing offers you the chance to stay at a person’s home for free. It also provides you the chance to interact and have fun with a local. This could be the biggest money-saving way to travel there is today.

If you plan to take your dream vacation, there are plenty of ways to finance it. It just takes a little time and effort, but you should have the funds for your dream travel plan in no time.

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