Tips to travel on a budget this summer 2024  

Tips to travel on budget in this summer 2024

Plan your dream destination to get away from this summer. Many of us are thinking of adventurous vacations this summer. However, with rising costs across the world, planning to travel can be a challenge. You need to be careful while planning your trip and it’s not easy, but it is entirely possible.  

In this blog, you can learn some smart strategies and Tips to travel on a budget this summer of 2024. Use your hard-earned money and make unforgettable summer memories without breaking the bank.  

Here are some top tips for affordable summer travel in 2024:  

Research on Destination:  

Before planning a vacation, it is essential to research some places that come to your budget. Planning your trip spontaneously can be fun but it can be expensive, due to last-minute planning. Booking tickets at the last- minute is expensive and has a low chance of getting it.  

The following points are important before planning a trip:  

  • Research the best time to visit that place  
  • Look for affordable places to stay in  
  • Book the tickets in advance for a cheap price  

Find affordable stay:  

Staying at a five-star hotel such as the Taj is an enjoyable experience. These things can raise your travel budget, and they’re also wise choices. Avoid the temptation to select a luxurious stay and instead go for:  

  • Look for PGs or shared rooms as they are cheaper compared to hotels  
  • You can stay with your friends and family for a few days  

Travel Slow:  

While traveling everyone should know slow travel is cheap travel. Flight tickets are often more expensive than train tickets and traveling on an express train cost more than traveling on a slow train.  

However, traveling slowly is enjoyable because you get to explore the place and its culture.  

Eat and shop where the locals do:  

There can be popular tourist places and great restaurants in their locality. But the best way to explore and save money is to avoid popular shopping and restaurants instead follow these tips :  

  • Try out street foods  
  • Eat at restaurants the locals frequent  

Can we take a personal loan for travel?  

Taking out a personal loan for travel is generally not recommended. However, there may be some limited circumstances where it could potentially make sense:  

Pros of taking a Personal Loan for Travel :

  • Allows you to pay for a trip upfront when you may not have had the full amount saved  
  • Personal loan interest rates are typically lower than credit cards  
  • A fixed payment schedule can help budget the travel costs  

Cons of taking a Personal Loan for Travel :

  • You’ll pay interest charges, increasing the overall cost of your trip  
  • Taking on debt for non-essential expenses is financially risky  
  • Personal loans require a credit check and get reported to credit bureaus  
  • Default on loan repayments can impact on your credit score  

Given the cons, most financial experts advise against using personal loans for vacations or travel. It’s usually better to save up over time for trips to avoid going into debt.  

However, some may consider a low-interest personal loan if:  

  1. It’s for a once-in-a-lifetime trip opportunity you otherwise couldn’t afford  
  1. You have a solid, steady income to pay it back reliably  
  1. You get a low-interest rate and short repayment term  

Conclusion:

Ultimately, funding travel through a loan means playing catch up to pay interest costs. For most, it’s wiser to budget, save diligently, and stick to affordable trips to avoid debt. However, a very low-cost personal loan may work for some in limited circumstances. Online apps such as Zap Money provide instant personal loans for people with good credit scores and reasonable interest rates.  

FAQ:

What is a good budget for travel?  

A good budget for your travel can be based on your source of income, your destination, your food, and travel expenses.  

Why should you travel on a budget?  

When you travel on a budget you learn to manage in different situations, you can explore for a long time, and helps you teach the value of money  

How to select a place on your budget?  

After deciding on a location, do some research on low-cost travel options to complete your vacation.  

Why do you need to take a personal loan for travel?  

A personal loan requires no collateral because it is an unsecured loan. A person can obtain a personal loan to finish their journey if they need to travel to their dream destination but are unable to do it within their budget.  

Hariharan Ravichandran

Understanding the ever-changing environment of money may be a difficult experience.I'm Hariharan, a seasoned finance explorer and blogger. I am right there with you, beginning on this journey of financial enlightenment as a fellow traveler.

FAQ’s

The ZapMoney app makes personal finance easy, accessible, and affordable. The App is available on Google Play Store and App Store for download, allowing you to sign up and access easy personal loans. ZapMoney is powered by Monexo Fintech Private Limited which is a registered NBFC-P2P.
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