5 Finance Options to Power your Travels

We all dream of glorious holidays in exotic locations, seeing the world and reveling in new experiences that will change our lives forever. This year might be the first time you’ve had the chance to consider travel due to the Covid 19 pandemic and you really want to make it special.

But before you get swept up in the excitement of planning your holiday, you need to find the money that will finance your journeys to the farthest corners of the globe. Here are 5 finance options to power your travels around the world, proving that your dreams can become a reality!

Take out a short-term loan

If time is not on your side and you need to get away quickly, then consider looking at short term loans that will give you fast access to the cash you need. One such option is cashasap.co.uk, a direct lender offering a secure and hassle-free way to access small amounts of cash without any hidden costs. One of their payday loans can help bridge your income and expenditure until payday.

A loan is also a great idea to use if you have managed to put together the money to pay for the travel and accommodation, but are short on spending money. Always make sure you are financially stable enough to meet the repayment schedule and ensure you are getting a good rate of interest on the deal.

Start budgeting

Depending on how far and wide you intend to travel, you can start cutting back on your outgoings to save up the money. If you start planning early enough, even the smallest of changes will make a big difference.

For example, if you spend £2.50 a day on a fresh coffee, you could save £12.50 a week, which adds up to £650 in a year, which could mean an upgrade to your accommodation or some extra activities you couldn’t have otherwise afforded. Make one or two similar changes and you’ll have the money you need to enjoy that wonderful holiday you deserve.

Take out a credit card

If saving isn’t an option for you right now, a credit card could help you pay for your holiday. You may find cheap flights and accommodation by booking in advance, and you’ll be covered by Section 75 under credit card protection.

Under Section 75, as long as the price of each individual ticket is between £100 and £30,000, you might be able to get your money back from your credit card provider if your flights are cancelled or the airline goes bust. You could even be covered for alternative flights and accommodation if your flight is rescheduled.

You could also benefit from delayed payment and other rewards such as air miles. Just be sure to look for cards that don’t charge overseas fees!

Use your savings

If you don’t want to take out a loan or can’t face the thought of a day at work without a fresh cup of coffee to fuel you, then using your existing savings is probably the next best option.

It means you don’t have to borrow any money, pay anything back or miss any of your daily essentials. You’ll have to weigh up how much of it you want to use, however, in the long run, you’ll want some savings left to help for a rainy day.

Sell unused items

Most of us are hoarders of some kind and if we are to be brutally honest we could probably do without half the stuff that clogs up our cupboards and wardrobes. Sell old clothes, shoes, DVDs, CDs and anything else you might be able to get some money for.

There are plenty of reputable sites and apps like Ebay, Shpock and Vinted that make it easy to list your items with a few simple clicks and before you know it they will be sold, you’ll have more space in your home and you’ll be that bit closer to going away on holiday.