4 Ways To Fund That Dream Vacation You’ve Never Gotten Around To
A lot of modern travel tends to revolve around budget options and cheap destinations. Particularly when a new year rolls around, we tend to see endless recommendations for affordable getaways, and the truth is that they’re often terrific ideas. These kinds of recommendations can open your eyes to some incredible places and lead to cheap but memorable experiences you may never have otherwise had. As we ease into 2020, for instance, we’ve seen pieces written about the affordability of lovely destinations like Uruguay, Montenegro, and Thailand, which has been the subject of a travel guide here as well.
As wonderful as it can be to explore these types of budget options though, you may well have a slightly more exclusive dream destination on your travel list as well, and you shouldn’t cross it off! Most people have a few bucket list travel dreams, and for far too many those dreams never become reality – often because they’re just a little bit too expensive. Now, we understand that some trips really are just too expensive, and different people have different restraints when it comes to tourism budgets. If you’re interested in finally crossing that dream destination off your list though, we have a few suggestions for ways to fund the trip, or offset its cost, such that you can finally make it happen!
1) Cut Out One Luxury For 3 Months
If you’re one to live a frugal lifestyle already, this might not be an easy option. But we’re betting there’s still some kind of little treat or luxury you indulge in regularly that you could do without for just a few months as you save up for your dream getaway.
The common examples cited with recommendations like this are beverages or trips to the coffee shop in general. So for the sake of clarity, let’s say you spend $3 each day on a latte, in addition to your morning coffee. If you simply cut this out, relying on your ordinary coffee for a caffeine boost bust skipping the indulgence of a mid-day latte, you could generate roughly $275 in savings! Even if you have a $3 latte, say, five days a week, and you put that habit on pause, you could still wind up pocketing some $180 extra. This is just one example, but it goes to show that by temporarily letting go of a minor indulgence, you might end up paying for the bulk of a plane ticket, or one or two nights in a hotel – which can make the whole trip a lot more feasible.
2) Take Out A Loan
Taking out a loan may seem a little bit involved as a means for funding a vacation, and in some cases it is. But there are options beyond the big ones that might come to mind, such as a home equity loan or a bank loan. For instance, today companies in a growing number of cities and states are actually offering title loans, through which you can use your vehicle as collateral, secure a sum of cash almost immediately after applying, and play it back in gradual installments with low interest (and you don’t have to stop driving the vehicle in the meantime).
This can be a terrific option if you’re simply in need of that last bit of money that will allow you to responsibly book your trip and head off on your dream vacation with no regrets or worries. Just be sure you shop around a little bit to find a good deal because title loans do vary significantly in nature. Representing the generally appealing title loan landscape throughout the state of Ohio, LoanMart in Cincinnati allows residents up to three years to pay back loans but points out that some other lenders expect payment within one. There may be similar disparities between lenders wherever you reside, so be sure to do your research and get the best deal you can.
3) Rent Out Your Home
Merely five years ago the idea of renting out your home while traveling might have seemed too complicated and uncertain to bother with. Now, however, services exist that make it easier than ever for the homeowner to do this. Most prominent among them is Airbnb, the easy booking app, and website that allows you to rent out your home just as it is, with a fair amount of control over the entire process. Now, the demand for your rental will, of course, depend on where your home is and how appealing it is to renters – but that doesn’t mean it has to be a vacation home. These days, people are beginning to look at home rentals as hotel alternatives for ordinary travel. This can be a boon for anyone with an interest in traveling, as the rental fee can reimburse significant portions of what you spend traveling.
4) Explore Pay-Later Flight Options
Last but not least, you can also explore many pay-later flight or booking options that might be available to you within your itinerary. This is an option a lot of people simply don’t notice when making travel plans, and yet it’s one that’s actually become more common of late.
Naturally, every airline and booking site has different specific deals available, but Skyscanner in its travel tips provided a rundown of some of the pay-later options you can find from major companies like British Airways and American Airlines, among others. Basically, these options allow you to book your trip with a down payment and an agreement to cover the rest of the costs in small installments over time. So, while you aren’t actually making the trip cheaper, you’re giving yourself more time to pay for it gradually – which might just be what you need to finally set off on your dream vacation!
With these 4 ways, you are bound to head to your next dream destination in no time!