6 MinsSep 30, 2022
A mere mention of the word "vacation" is enough to bring a smile. It's always fun to go on vacations with friends, family, cousins, or even by yourself. Taking a holiday among the snow-clad mountains or pristine beaches can provide you with a wonderful escape from your busy life.
As the internet and technology advance, it's easier than ever to plan a vacation. You can simply download a travel app on your smartphone and use it to book your flight tickets, hotel accommodation and everything else required for a holiday.
However, the actual worry seeps in when you start counting the expenses you may incur on your vacation. For sure, you are planning a vacation to eliminate stress from your life. But it can become stressful if you don't prepare a budget and go overboard with your spending.
Here are the five simple tips that can help you plan a budget vacation and save money while travelling:
1. Create a budget for your vacation:
Prior to planning your vacation, it is imperative that you create a budget. The amount you can spend on your vacation must be known in advance. Going on an expensive vacation when your budget is limited may not be a good idea.
While creating your vacation budget, do not forget to consider all expenses that you may incur. These include the cost of travel tickets, hotel bookings, shopping, eating, sightseeing, etc. You should also consider the number of members in your group while preparing your budget. Needless to say, the greater the number of travellers, the higher the budget will be.
Now, this budget will be your guideline for planning your travel itinerary. If you don't have the requisite finances, you can apply for a personal loan to meet all your travel-related expenses. However, your personal loan amount should not exceed your travel budget.
2. Choose a location depending on your budget:
Next, you need to decide where to go on vacation. While choosing your destination, you must consider your personal preference and budget. For example, if you're a mountain lover, you can choose a hill station, or else, if you want to spend time by the seaside, you can opt for a coastal destination.
Also, make sure that the destination chosen by you is as per your budget. If your budget doesn't allow you an abroad trip, you can plan your vacation within India. India has great holiday destinations, such as Gangtok, Goa, Ladakh, Kashmir and Tirupati.
[Also Read: How to save money for a vacation in 12 months ]
3. Determine the cheapest travel mode:
Another way to reduce your vacation expense is to travel via the cheapest modes. After the COVID-19 pandemic, most airline providers have hiked the rates for flight tickets to popular tourist destinations. So, what you can do is travel via trains and buses. Railways are often considered the cheapest mode of transport in India.
To reduce your travel expenses further, you can book your tickets on Garib Rath trains, which offer air-conditioned travel at cheaper rates. However, one problem you can face with the railways is the availability of confirmed tickets. If you’re booking your tickets at the eleventh hour, you can take the help of the Tatkal Reservation System.
4. Plan your itinerary well in advance:
If you want to plan a vacation on a budget, the best way to go around is to plan your itinerary well in advance. This will allow you to get your flight tickets and hotel bookings at affordable rates. On the other hand, last-minute booking of flights and hotel accommodations will unnecessarily swell up your travel budget.
Additionally, when you plan your itinerary in advance, you can select the dates and places as per your wish rather than availability. Travelling on weekdays instead of weekends is another excellent way to save some additional bucks.
5. Apply for a travel credit card:
A credit card works on the principle of "Use Now, Pay Later". You can use your credit card to pay for your flight tickets, hotel stays, shopping, and dining during your trip. Once you return from vacation, you can repay the amount.
Another benefit of using a credit card is that it provides you with cashback and reward points that you can redeem to receive attractive gifts. You can get discounts on your flight tickets, hotel bookings, and other travel-related expenses with a travel credit card. This, in turn, can help you maximize your savings during your vacation.
A vacation can be enthralling and relaxing. But you should try not to cross your budget at any cost. You can apply for a personal Loan or a travel credit Card with Axis Bank to meet all your travel-related expenses without any hassle. You can use our online Personal Loan EMI calculator to know your EMIs and plan your vacation better.
If you’re planning an abroad vacation, you can also apply for a Forex Card. It is a safer and cheaper mode to manage your transactions on foreign shores. You can apply for a Multi-Currency Forex Card in just 5 minutes from the convenience of your home and load up to 16 currencies.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.