Personal Loans – Travel Smart

With the ever expanding lending market catering to almost every kind of loan, it is now possible to get financial assistance for almost every conceivable thing that the human mind can think of. And, that includes holidays. So, if you have been postponing some very deserving R&R plans, then you can now take advantage of the present situation.

It is up to you what kind of loan plan you prefer to take. Ask the financial advisers of the bank or lending society to find out the best personal loans deal for yourself. You may even apply online and compare the different APR rates provided by different companies. Most sites also offer a budget calculator that you can use to calculate how much the loan is going to cost you. That way you have a clear idea about how much money you will have to pay at the end of each month to the lender.

Now, that you know where the money is going to come from, lets focus on how to make your trip comfortable but economical at the same time. Money flows like water in most overseas trip. But, the following tips might just help you stretch your cash for an extra mile.

Shop around for good deals

Look at this as a warm-up run. Hunting for good bargains is a knack that everyone should master. Go online and search extensively for good deals on air fares and hotels. Check out offers from consolidators, travel agents and web sites for more ideas. Even if you are going for a package tour, hunt out cheap bargains. If your trip is more flexible, then you can book directly with the airlines or hotels.

The destination does matter

You can make the most out of your money from the personal loans by going to a destination where the exchange rate of the pound is high. Not only will you have a luxurious trip (which may not be possible in a Euro destination), you can also pick up on amazing bargains. Bangkok, India, China, Sri Lanka, Maldives and Mauritius are some good options that you may consider.

Rent an apartment

If you intend to stay or a week or ten days in one place, or want to make a particular place your base point, then think about hiring an apartment. Not only will it be cheaper, it also allows you to get a feel of the place where you are staying. After all, your personal loans are to be repaid, so every dime counts. For example, in Goa (India) most locals rent out portions of their home to tourists. And, in some instances, the landlord may offer you the use of his bike too.

Eat right

One of the best way to budget you cash stow is to eat like the locals. Give expensive food joints a miss or visit them only twice a week. Savour the local delicacies but do take care to drink only mineral water.

Shop smart

I ask you, what is a trip without some retail therapy? Shopping for local curios, clothes and accessories is part and parcel of every trip. But, the trick is to do it without burning a hole in your pocket. Firstly, give stalls around tourist spots a miss. Go to those places where locals shop.

Cash or credit?

This is one tricky question. I feel that one should carry a credit card with oneself for emergencies. But, do not overuse it otherwise you will be in debt and then you will have to take another personal loans deal just to pay off your bills. Use your credit card to pay for tickets, hotels and other big expenses. For regular expenses like travelling and sight seeing, use cash. Also remember that all places may not allow you the facility of using your credit card. If possible, withdraw a large amount, as in enough to last you for a week. This way your bank charges on ATM withdrawals don’t add up.

Don’t throw away the receipts

In case you have shelled big bucks on your shopping extravaganza, there is a possibility that you will be paying huge VAT taxes on them. Depending on your destination, you may be getting a refund on the value added taxes that you paid. So, save the bills.

And, last but certainly not the least; buy a guide that is suitable to your travelling plans and budget. Lonely Planet guidebooks are the best bet for budget travellers because it gives you excellent information about native haunts, cheap eateries, and local amusements. Because, after all if you are taking personal loans to fund this trip, you might as well make it worth while the cost.