Holidays and travelling give us some of the most enjoyable times we can have, but working out the best way to afford them can be tricky.
To help you, we’ve explored 5 ways you can finance a holiday, including some pro’s and con’s you may not have thought of, but should really consider.
So here’s our list, starting with what we believe to be the best financial option to fund your travels and finishing with the ones you should approach with caution.
If you can, saving for your trip is the least expensive way and always your best option.
A holiday loan is designed to be used specifically for travel and holiday expenses.
At Fair Go Finance applying for a holiday loan is easy and completely online, so you can be given your answer and the money (if approved) potentially within a day.
Here are the pro’s and con’s, specifically related to our holiday loans.
Credit cards are chosen because they are considered flexible to use when you are on holiday.
Many banks and mortgage providers will allow you to redraw any surplus you have, or increase your mortgage limit if you complete an application and are approved.
Borrowing money from friends or family for a holiday is something we recommend you try to avoid.
They may lend you the funds interest free which sounds great, or even at a very low cost, but there are a number of con’s attached to this option, outlined below.
We hope the above information has helped with your holiday finance decision. Here are four final tips we recommend you always consider too!
If you’d like more information on why a holiday loan is a better option than using a credit card, you’re welcome to read our blog “why choose a personal loan rather than a credit card?”.