10 nifty ways to save for your holidays!

By | January 1, 2015

Holiday Travel

Hurray! it is the holiday season and you would definitely want to make the most of it with some exciting travel plans, wouldn’t you? You have zeroed few destinations, but have you started your financial plan for it? Of course you might have made some and working out for the rest. So here we help you with 10 nifty ways to save for your holidays.


  1. Have a travel corpus fund: It is essential to have a dedicated travel corpus fund. A lot of people do not keep a dedicated fund for travel and take out travel expenses from their general savings. Taking care of holiday expenses from general savings may mean that you may end up reducing the saving corpus. To avoid such a situation, it is best to have a dedicated travel corpus fund. Small amounts can be allocated to a travel fund each month so that substantial amount of money can be saved each year. You can also explore the idea of having a systematic investment plan for creating a travel corpus.


  1. Plan the holiday in advance: If you are planning to make it for this summer vacation, finalise it and make the arrangements now.Planning the holiday in advance is a good idea as it can give the overall estimation of the expenses as well as discounted price on bookings. For example if you book for a flight ticket or hotel rooms now, the pricing will almost half than it will be just one month before it. Many impulsive travelers do not plan their vacation and end up spending far too much than necessary.


  1. Research for offbeat locations: Rather than picking up your bags and going to nearby destination, it is always good to research the location well in advance. Many holiday destinations are crowded during the annual vacation season that one does not feel the necessary vibe of visiting them. The rates will be also high during peak seasons. It is always a good idea to avoid the rush by researching for good offbeat locations.


  1. Get a travel card: If you are an impulsive shopper or plan to buy gifts and souvenirs from your travel escapades for your family and loved ones, it is a great idea to get a travel card. Travel cards are like prepaid debit cards allowing the ease of using plastic money on travel which is safe that carrying currency while travelling.
  2. Don’t ignore travel insurance: If you think travel insurance is not something for you, think again. This is especially significant in case if you are planning for an overseas travel. Any emergency during the travel like a medical expense or loss of baggage can mean a lot of unwanted expenses which can jeopardize the whole vacation and deplete the savings in one go. Opting for travel insurance protects against any such eventuality allowing you to travel with a peaceful mind.


  1. Redeem credit card reward points: Use your cards to the maximum here- for booking flight tickets, hotel rooms, paying bills etc. This is the best time to accumulate reward points on your credit card. You can redeem those points for some good buys. Rather than spending money on buying gifts for friends, using the reward points in the card which helps you to save.



  1. Use travel comparison websites: Use travel comparison websites before finalizing the travel schedule. These sites offer the best deals including travel fares, hotel accommodation and other miscellaneous expenses like pick up and drop services. The use of such travel sites make sure that you are not spending too much.


  1. Avoid weekend travel: Avoiding weekend travel can save substantial sum of money as fares. Airfares are higher for weekends compared to weekdays. This is especially true if you are planning small excursion just off the city.



  1. Use the expertise of local friends: In case you have any local friends in the city you have shortlisted, make sure to check with them about the best options for lodging and boarding. The guides, local shops and cabs of tourist destinations will quote you high amounts as they know that you are not familiar with the place.


  1. Travel with a group: Travelling in a group is not only fun but it also means sharing the overall expenses making the costs significantly lower. So the next time when you make a travel plan, make sure to form a small group with friends, colleagues or neighbors so that you can maximize the chances of saving money and get group discounts everywhere.


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