If to have your dream vacation you are considering applying for a personal loan, you should proceed with caution. Naturally, with the arrival of summer, all you can think about is the much-deserved vacation. If you are in the habit of taking a longer vacation period at this time, it’s time to have fun and recharge your batteries to face another year of work.
In this article, we explain that accounts must do before deciding to add expenses to your family budget, but we also point out alternatives to this choice. THE savings, or its reinforcement with the objective of the holidays, can also be a path.
Fees, commissions and charges on a personal holiday loan
Personal credit is seen by many people as a way to get money quickly to achieve a certain goal, be it a vacation, homework, buying a car, or any other. If the advantage is having money available quickly, the flip side is the high cost of a personal loan.
in addition to high interest rates of personal credits, which can reach 13%you must take into account all the costs you will have to bear to make the credit, such as, for example, taxes, commissions, insurance premiumsuch as life and payment protection, to prevent possible unforeseen events, as well as other charges.
When doing the math, you will easily understand the difference between the amount you need and what you will pay at the end of the contract.so resorting to credit for this type of situation may not be the best solution for you.
Is it part of your plans to extend the payment for the holidays you have already taken for several months? Still, you can and should make plans to spend a vacation with everything you’re entitled to. To this end, take into account other alternatives.
Also read: The questions you should ask before taking out a personal loan
Savings for the holidays
To make your dream vacation a reality, start working towards it today. As? To start must draw up a budget to find out what amount you will need. Then challenge yourself to make a monthly savings at an amount that is comfortable for you until you can gather the money you need.
Get extra income
If your salary is too short to pay for the vacation you dream of and even with a monthly savings it is difficult to get the necessary amount, then consider getting a extra income.
find a job at part time for a certain period that you can combine with your job. For example, working at a restaurant on the weekend.
If, on the other hand, you’ve always had a knack for cooking, photographing or any other activity, consider start making money with your hobby. If, for example, the kitchen is your thing, consider selling what you make. Take advantage of the potential of social networks to promote your products and get to work. You can also teach other people to cook.
Also read: How to earn extra income from your hobbies?
Sell what you no longer use
You certainly have several objects at home that you no longer use, namely clothes, jewelry, furniture, among others. Sell these objects and get some help to pay for your vacation. Publish your ads on online sales platforms, such as OLX and Custo Justo.
Take a Cheaper Vacation
If you don’t have the financial resources to take the vacation you’ve always dreamed of, the alternative may be to take a more affordable vacation.
Search the internet or look for a travel agency alternatives that can be as or more interesting as fate intended, and above all cheaper.
Also read: Holidays on account? Tips from planning to couchsurfing
Go on vacation in low season
Another solution can be to take the much-desired vacation in low season. If you travel when there is not much demand for the destination you want you will definitely find lower prices.
Pay your vacation in installments at the travel agency (no additional costs)
Sometimes travel agencies run campaigns, where they make it possible to payment in installments without any additional costs. Inquire about payment terms and if the agency is working with that possibility, take advantage of it.
Gain a financial break by saving on your credits
If you have several credits to pay monthly, such as car credit, credit for the purchase of an appliance, credit cards, among others, consider credit consolidation to save.
Consolidated credit allows you to combine all the credits you have into one. That is, by doing this, you pay a single lower monthly installment, due to interest rates. The amount of savings will always depend on each case, the amount of credits you have, the associated fees, but it is always possible to save at least immediately.
If you have a home loan, know that there are also ways to save on the installment you pay for the loan.