Smart Ways to Fund Your Dream Vacation

December 13, 2019

Everybody dreams of traveling the world at some point in their life. In fact, there’s no generation with a stronger urge to explore than Millennials. Unfortunately, traveling can be very costly, but it doesn’t mean you have to give up your travel dreams forever.

With some strategic funding and planning, you’ll be packing your bags and hopping on a plane in no time. So, here are some tips to get you started.

Discover your next dream vacation today

Discover your next dream vacation

Open a Bank Account to Save for your Dream Vacation

The easiest way to save up for a special trip is to have a separate savings account. While this option takes a bit more time, the good news is that your money might even grow within a few months. If you’ve got side hustles or get any bonuses, a savings account is a great place to put any additional income. You might even want to consider setting up an auto-pay system, so that you don’t have to worry about depositing payments manually. Talk to your local bank so they can advise you and help you out.

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Cut your Expenses

Tightening your budget for your day-to-day costs is a simple way to save up for your dream vacation. You might be thinking it’s just another caramel macchiato, or it’s just another Uber ride. But those seemingly small expenses add up, and you’ll be surprised how much you will end up being able to save if you give them up for a while. Don’t know where to start? Instead of eating out all the time, cook or take your own food to work. Pause that pricey gym membership and work out at home. Walk or take public transport instead of driving. There’s literally a DIY alternative to everything.

Apply for a Personal Loan

If you simply don’t have the luxury of time to save up for a trip, one option is to get a loan. While loans are typically used for emergencies, unexpected repairs, and accidents, money can be borrowed for spontaneous travel too. They’re more accessible than you think, with title loans only having one simple requirement having equity in the vehicle title you put down as collateral. Of course, other basic criteria for borrowing still stands, including being above 18-years-old, having an existing bank account, and having proof of income. Thankfully, these types of loans don’t often require a good credit score, although NerdWallet reveals that you could even get lower rates with a loan than with a credit card.

Sell Items Online

If you’re reading this, then you’re probably the type of person who prefers experiences to material items. So why not take it to the next level by selling all the items you don’t even use anymore? If you’ve got a bike that’s gathering dust, books you’re done reading, or clothes that no longer fit, then this is the perfect opportunity. There are various selling platforms out there like LetGo, Poshmark, and Facebook Marketplace. It’s super easy, and you’ll be able to declutter your home too.

Being able to save enough money for a trip can be challenging, but rest assured that it will make that long awaited dream vacation all the more rewarding. When you are on your once in a lifetime trip, be sure to discover fun events near you in just two clicks so you can spend more time enjoying and savouring your dream vacation.


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