Planning a Holiday? Here are Smart Hacks to Start Saving Now!

Jul 09, 2018 | 11 months ago | Read Time: 3 minutes | By iKnowledge Team

Saving Plans

This quote stands true irrespective of the profession (you are currently a part of), and the stage of life you are at. A vacation is essential for you to recharge and bounce back with life.

Planning a vacation itinerary requires you to plan your travel route, spots to visit and the mode of transport to be used to travel to each of these places. This involves cost. The spending can turn out to be exorbitant. This is exactly why you need a holiday savings plan to keep aside a certain amount of your earnings to plan your trip better. But why save when you can use a credit card? Well, that may not be a wise thing to do, as there is a chance that you may go overboard and end up carrying a huge debt. Therefore, be it an abroad travel to Venice or a domestic one to any of the vacation spots in India, start saving today!

Below are a few tips that will guide you to plan an excellent vacation trip:

1. Research and Select a Destination

It is always better to do a bit of research on the internet or read travel magazines to decide on your travel destination. Accordingly, you can calculate your travel expense and see if it fits your budget. This method works in case of both domestic and international travel.

2. Decide on a Budget

It is important that you fix on a figure whilst charting out your travel plan. For example, if you plan to go on a ten-day Euro tour (which costs around Rs. 1,50,000) through a travel agent or a tours and travel company, then post evaluating a variety of travel plans you can decide on a figure for your tour.

 3. Prioritize Your Preferences

In the order of importance, rank preferences of the sightseeing places you would want to see. Basis this, you can decide on the mode of transport, (be it rail, road or waterway) and the types of hotel you would want to stay in (resort hotel, bed and breakfast, or a villa). You could even opt for budget hotels. Preferably check for hotels which have a fast Wi-Fi connection. Check for discounts on flight and hotel prices too to decide on an affordable place to stay.

4. Insure Your Life with a Term Plan

Whether you are going on a holiday or planning for one, an unexpected event such as a financial crisis or a death can come knocking on your door anytime. That’s why, it’s important to insure your loved ones with a term insurance plan – such as Aegon Life iTerm Plus, so they can continue living the same lifestyle after you.

5. Choose a Travel Plan Wisely

Be it saving a considerable amount first and then selecting a travel plan or vice versa, you need to first consider the different travel plans and then select one wisely. But how do you decide? Easy. See if it fits your pre-decided budget, if it covers the places you wish to visit in Europe and the number of days.

It is important to note that, losing track of your savings while setting aside funds for that next big vacation is not a wise step. Continue keeping a constant check on the amount saved. Once you have finalized a number for your saving for vacation amount, work consistently towards that number and deposit the same in your savings account for an already decided interval.

Advt. no: IA/Jun 2018/4116

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