Every one is looking forward to a great vacation trip. Need holiday financial tips?
2 or maybe three holidays a year to Europe and the Caribbean are now considered the standard with £74bn being spent on vacations and spending money in 2006, according to Axa. The issue starts when the vacation is over and the feared Visa card bills start landing on the mat! Only then do some people notice that they have spent beyond their means and the ‘holiday hangover’ starts to set in.
Holiday financial tips to forestall the holiday hangover :
? Set a limit – Think about how much you can realistically afford before you decide where you are going and, more importantly, where the money will be coming from. Stick to this budget!
? Start saving – Put some money aside each month leading in to the holiday – don’t forget that most package holiday corporations require the balance to be paid up to 12 weeks before departure. Attempt to put the same amount away and deposit the funds into a separate bank account to bypass the temptation to spend.
Take advantage of special offers and avoid the ‘holiday rush’ period.
? Employ offers – When booking holidays, take advantage of motivations for booking early or bag a bargain by booking a late package deal. Keep an eye open for free kid places and don’t forget to get quotes from several different sources to determine if you can barter the price down.
If possible, use your debit card for transactions ( but don’t forget these are also subject to extra charges ) – avoid money advances on credit cards at any price as the interest rates are typically extraordinarily high.
? Budget daily – Work out a daily budget of likely spend and try to adhere to it while you are away. Do not feel tempted to blow the budget and put the daily meals on a Visa card.
? Quality not quantity – try to resist over-stretching yourself too much even if everyone else appears to be splashing out on foreign vacations. Holiday Financial Tips on Insurance
However [*COMMA] all vacation insurance isn’t the same and costs differ widely, here are 5 top pointers that may help you get the top deal on travel insurance :
? Shop around – do not be pressured to take travel insurance out with your travel agent, it’s not compulsory. There are occasionally more interesting deals available on the high st from banks, outlets and even the Post Office
? Already covered? – you may already have travel insurance – many premium bank accounts have value-added benefits like travel cover as an element of the package. You’ll already have basic travel insurance as a part of your benefits but may be ignorant so ensure you do your homework!
? Don’t pay for what you don’t need – If you only go abroad within Europe, choose a policy that only covers Europe instead of a global policy, as this may frequently be cheaper . Also, don’t pay for winter sports cover unless you need it.