Avoiding Debt: A Holiday Challenge

Every year, we all seem to make the same promise: ‘I will not spend too much on a holiday’. However, every year we make the same mistakes. Many of us look at the brochure or the idyllic photos of white sands and palm fronds on travel company websites and just want to book there and then. That impulse may be more fun than planning ahead, setting budgets and comparing lots of sites to find out who has the best deal, but the results are always the same: huge bills and a debt hangover that lasts longer than your holiday; try the Your Debt Expert debt calculator today, then set your budget and have a great holiday without the financial hangover.

We know how difficult that can be, so we’ve got a few tips to help you on your way!

Plan ahead!

Instead of leaving everything to the last minute, make a plan for everything! The more time you take in drafting a plan, the easier it will be to carry out and to stick to. So plan ahead, think about getting several brochures or bookmarking a few websites. By comparing several different holiday companies you can see what price you can really get.

All Inclusive

Make a list of all the things you’d like from your holiday, then see what is really necessary and what your budget will stretch to. Remember also that whilst half board might be a lot cheaper, you will have the expense of eating out every night! All inclusive holidays are a great way to sticking to your budget, as you know that all your food is catered for already.

Get real

Remember, you must be realistic about what you can afford. There is no point in booking expensive hotels if you have to go into debt to afford them. You’ll only make your situation worse and when you come home, you may find yourself unable to cope. Not being too fussy about your destination will also help. Go to an ‘up and coming’ destination, the beaches will be less crowded and you’ll get a much better deal; and if you weren’t planning on leaving the resort, do the facilities of the local town really matter?

Don’t overspend on unnecessary expenses

If you are going away, be careful what you spend in advance. There’s little point in working hard to get the best all inclusive deal in the best resort if you then go and splash out on lots of expensive clothes. Changing where you buy clothes from a high street brand to a cheaper alternative, like TK Maxx or Matalan will help to cut down on costs; and if you won’t wear it when you’re home again then just don’t buy it!

All of these tips are very simple. The point is that going on holiday is a highlight of year; just don’t let yourself get carried away in the excitement of it all. Plan ahead and spend your money wisely. That way you’ll avoid the carrying the burden of debt for the rest of the year.

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3 Responses to “Avoiding Debt: A Holiday Challenge”

  1. I have a separate savings account that I use for vacations. Whatever is in that fund is what I can spend – nothing more. It actually keeps me from spending too much on one trip because I’ll see that I won’t have enough left for any other trips and so I end up cutting back so I have enough in case I want to go somewhere else later in the year.

  2. […] at Modest Money Having Trouble With The Debt Cycle? Stop Agreeing to Payments at Work Save Live Avoiding Debt: A Holiday Challenge at Finance Inspired Can You Afford an Early Retirement at One Smart Dollar How To Be Indispensable […]

  3. […] at Modest Money Having Trouble With The Debt Cycle? Stop Agreeing to Payments at Work Save Live Avoiding Debt: A Holiday Challenge at Finance Inspired Can You Afford an Early Retirement at One Smart Dollar How To Be Indispensable […]

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