Travel Loan 229 views
Some people are really passionate about travelling. They are ready to give-up or compromise on many things to live their passion. But some people give up their travelling desires because of less funds. They simply say, “I can’t travel because I can’t afford it!” Presently, making travel plan is not really complicated. There are many websites which give you enough information about different destinations across the world. You can search information, compare different aspects and plan your travel accordingly. You can use your savings or your credit card to make your travelling payments. But, if you are not having enough funds and tailing credit card history, in such situation the best option is to save some money to fund your travel. You can also apply for personal loan your trip. Yes, it is easy to avail this loan as there are many lenders available that offer you such loan with minimum documentation and without collateral, but there is another side to it as you are required to pay minimum 12% to 14% rate of interest on your loan amount. To save yourself from paying extra money as interest and avoiding even paying credit card EMIs for months, just start saving some amount for your travel.
Before you start saving for your travel, first decide an amount how much money you need for your travel including all expenses from Day 1 to last day of your trip. The best way to start saving is to set a goal. Fix an amount and then divide it into monthly saving amount to reach your goal easily. Here are some simple steps to save money for your travel.
Cut down your tea/coffee expense: If you are a coffee lover and you love to have your coffee from Barista, Cafe Coffee Day or Starbucks, avoid it as much as you can. Don't think too much about how much you like it's aroma or taste, just avoid ordering your coffee as much as you can. Buying a cup of coffee from any of these can cost you somewhere between Rs. 100 to Rs. 250 or more with taxes. Therefore, in a way you can save a good money by avoiding coffee from these outlets within few months.
Resist the temptation to order outside food: Do you order your food frequently from restaurants? Ordering your food from any restaurant cost you much as compared to cooking at home. If you order your food from any restaurant or even from any small eating joint in your area, still you will lose enough money every month. Therefore, you should start cooking at home to avoid extra expense.
Don't shop a lot: You love to shop a lot, every month you buy something or other. Stop investing too much on shopping. Nowadays, people shop things because many websites offer special discounts, coupons or deals to buy products. Don't get in to trap, these are all marketing tricks to lure customers to buy products. Shop only for those products which are important and necessary for you.
Minimize credit card usage: To achieve your saving budget try to minimize you credit card usage. When you make payments through your credit card you bother less to even buy some unnecessary stuff as well. You buy anything instantly with your credit card as you get option to convert your big amounts into easy EMIs. But in most of the case, you forget that you must be paying some extra amount as interest on the principal amount you have borrowed from that credit card to buy the product. Therefore, it is recommended that you should use your credit card at minimal.
Use coupons/ cash back to buy products: Most of us must be having one or another credit card or debit card. These cards offer you special discounts, coupons, and cash back on various purchases done by using these cards. You should always check your reward points, and cash back points from time-to-time. Always redeem your points to buy products or making payments to get special discounts.
Watch movies at home: If you love to watch movies on big screen and frequently visit movie theatres, stop this habit instantly. You spend minimum Rs. 250 to Rs. 500 to watch a movie in theatre. You can also watch a movie on your dish connection by using movie on demand to watch new movies, which is more economic as compared to watching movies in theatres. You can also watch movies online to save your money.
Use local transport for daily commuting: You are using your car to commute to office every day. To save some extra money, start commuting through local transport. It will be more cost effective. Travelling through any local transport like bus, metro or auto is way to cheaper than driving your car every day.