How to travel with­out break­ing the bank

Nadia - - TRAVEL - enableme.co.nz

You work hard and de­serve to be able to spend money on the things that make you happy. Travel, both near and far, is one of the top non-ne­go­tiable costs for me and for many of my clients. How­ever, it’s im­por­tant to have a plan and un­der­stand the fi­nan­cial im­pact of travel in order to en­sure you strike a bal­ance be­tween liv­ing well and mak­ing progress to­wards longer-term goals. Here are my top tips:

SAVE UP FOR YOUR HOL­I­DAY FIRST; DON’T PAY IT OFF AF­TER!

Putting your get­away on plas­tic can re­sult in spend­ing more than you’d planned be­cause credit cards dis­tance you from the pain of the pur­chase. Get­ting mired in credit-card debt will quickly turn that dream hol­i­day into a night­mare.

SET A BUD­GET FOR THE TRIP AND GIVE YOUR­SELF TIME TO SAVE

In the months lead­ing up to the trip (in fact, it would be great if you could do this the time), work to a bud­get for ev­ery­day ex­penses to max­imise sav­ings. If you want an easy way to start mak­ing sav­ings, take a hard look at the things you spend money on that don’t make you hap­pier. This is the per­fect place to cut costs be­cause most of us frit­ter away 15 per­cent of our in­come with­out mak­ing our lives any bet­ter.

SHOP AROUND – PLENTY OF SITES AL­LOW YOU TO COM­PARE HO­TELS AND AIR­LINES

Check out Airbnb and keep an eye out for air­line sales. While you’re on Airbnb, in­ves­ti­gate rent­ing out your home while you travel to make some cash to off­set costs.

A TRAVEL CARD THAT AL­LOWS YOU TO LOAD MUL­TI­PLE CUR­REN­CIES CAN

help re­duce trans­ac­tion fees, which quickly mount up.

CHECK THE EX­CLU­SIONS ON YOUR TRAVEL IN­SUR­ANCE

For ex­am­ple, some schemes cap the cover for in­di­vid­ual items so things like jew­ellery may not be fully in­sured.

If you put in the plan­ning, you can en­joy your hol­i­day guilt-free, know­ing your fi­nances are sorted.

WITH KATIE WESNEY OF FI­NAN­CIAL SER­VICES PROVIDER ENABLEME, TAKA­PUNA, AUCK­LAND

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