Here’s how you can finance a once-in-a-lifetime vacation

words Al Woods

Travelling the world can be a wonderful experience, but there’s no arguing with the fact that exploring is expensive too. While many people can afford to go on the occasional budget trip from time to time, a lot of us dream of one day going on the perfect vacation to some far-off land.

More often than not, we’re prevented from following through with our dreams, simply because we don’t have enough money to make our vacation into a reality. Fortunately, there are a few ways that you can potentially boost your chances of getting on that once-in-a-lifetime trip. Here are our top tips to get you started.

finance vacation

Look at Securing a Loan

While taking a loan out for a standard vacation might seem like a bad idea – this isn’t just any old trip. After all, if it’s a truly special occasion, such as checking off a bucket list item for a 10-year marriage anniversary with a trip overseas, then you might not mind taking some extra money out of your pay each month to pay back the cost of your loan. Taking out a personal loan from Earnest.com also means that you won’t have to wait as long to book your trip, as you’ll have the cash on hand in a matter of days from approval.

Auction your Items

The next time you have a weekend spare, use it to go through your attic, cupboards, and any other storage space in your home in search of valuable items. You might just find something that’s worth selling. It’s incredibly easy to sell products online today, thanks to things like eBay and Facebook marketplace. Find a price for each item based on similar sales and get people to start bidding.

perfect vacation

Create a Vacation Fund in your Budget

Sit down with your budget and ask yourself what you can reasonably afford to cut out. This might mean compromising on things like nights out with friends or regular meals with loved ones. However, depending on how much you want your vacation, you may find that you’re more than willing to make some compromises. If you’re worried that you’ll have a hard time remembering to save for your vacation budget, you can set up automatic deposits from your current account to a savings account each month.

Rent out your Home

If you’re going on small trips with the family while you’re waiting for enough money to go on your dream vacation, consider renting your home out while you’re away. Alternatively, give people access to your spare bedroom while you’re still at home so you can make some extra cash. You’d be surprised at how much an Airbnb host can make.

Watch for Deals

Finally, don’t forget to keep an eye on the internet and any travel sites that you don’t mind using to plan your trips. Just like any other store, travel websites can occasionally have sales and discounts that you can take advantage of. If you’re willing to travel to your must-see destination during an off-peak time, then you might find opportunities to save cash at certain points in the year.

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