How To Go Further With Your Holiday Budget

Written by Tracey Morgan
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How To Go Further With Your Holiday Budget
Everyone needs to have a break away from all of the stresses of everyday life occasionally and with an increasing number of people taking more than one holiday per year as the norm these days, it can turn into quite an expensive year, especially as a lot of us are becoming enticed into taking ever more luxurious long-haul holidays to even more exotic locations. Somehow today, a week in Spain just doesn’t seem enough.

The problem is that although holiday companies have increasingly become competitive and have made these types of holiday far more affordable, they still have the capacity to stretch our wallets to the limit.

Often, people will simply bang the cost onto a credit card but you’ll no doubt have heard many a story about a family enjoying a luxury far flung break, yet are still paying for it the following year when it should be time to start planning for their next holiday.

It, therefore, makes sense to forget about putting a holiday on a credit card and to consider holiday loans instead. The interest is bound to be less than you’d have to pay by funding your holiday by a credit card and, if you’re a homeowner, you can make it even cheaper by taking out one of the cheaper secured holiday loans that you will find on the market.

And, what about those who have been turned down for a credit card? Well, the chances are you will still be able to take advantage of one of the many companies who specialise in providing low cost holiday loans.

Many people would, naturally, prefer to choose to save for a holiday rather than have to pay it back later but we all know that there are some holiday opportunities that, now and again, are just too good to pass up on which is where holiday loans come into their own. Others who are even more savvy, may hold a credit card which offers them free air miles or some other kind of financial incentive such as buyer protection or free travel insurance and will still use their credit card to book their holiday on and then take advantage of a holiday loan to pay the card off in full so that they are still benefiting from the cheaper overall APR of the holiday loan compared to the interest they would accrue on their credit card.

It still pays to be prudent when considering financing a holiday as opposed to saving for it but a holiday can result in a lifetime of wonderful memories and, with some offers so enticing that’s it’s difficult to say ‘No’, at least a holiday loan will be far cheaper than most other methods of financing your dream escape.

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