ON THE MONEY Vacationing on a Budget this Summer

With the summer period comes heightened travel activities and the desire of many individuals to explore the world or a different part of the country. To this end, many families would have been saving up to make this summer vacation a memorable one. According to Travelstart, the total number of travellers who passed through Nigerian airports in 2017 was 13,394,945. Of those passengers, 9,458,521 were domestic travellers, while 3,936,424 were international travellers.

During a period like this, most companies in the travel industry offer significant savings on rental cars, flights, hotels, and other travel packages. It is not difficult to save a bundle on your next trip by following these simple steps:

Set

Booking travel without any set budget in mind can be dangerous. It’s hard to avoid getting tempted by cheap fares, online hotel reviews, and various attractions – but you could end up overspending without realising it. By looking over your current personal budget and taking your savings, fixed expenses, and variable costs into consideration, you can see where you have a little room (if any) for a vacation.

Plan a Travel Shorter Budget: Trips:

Whether you’re travelling for relaxation or exploration, you don’t need to jet off for weeks at a time to get the experience you want. Shorter travel blocks offer the same benefits as longer vacations, and they can cost much less.

Book Last-minute Deals:

If you’re not in a financial position for a lengthy trip, go for a long weekend or nab a lastminute deal for hotels, flights, and attractions. It might require a little more flexibility on your part, but last-minute trips can make travel a lot lighter on your bank account. When planning for that lastminute deal, remember that sometimes price wins over the destination. Therefore, this approach works well if you want to go on a vacation but aren’t picky as to where.

Define Your orities: Travel Pri

Before you start leafing through brochures or browsing online, you first must define your travel priorities. If you’re not willing to accept anything but a top-notch experience, you’re probably going to have to save up before you go for that trip or started planning a year before. On the other hand, if your main priorities are to experience a different culture, learn more about history, or even just take a few days to relax, you can likely accomplish such goals on a budget.

Get A Travel Insurance:

There is no better way to protect yourself from unplanned expenditure resulting from impromptu and devastating events than to have your trip insured. While travelling is fun, misplacing a priced possession, or experiencing a delayed flight or having a medical emergency, to mention but a few, will not only ruin your holiday but can wipe out your savings from the unplanned expenditure. Travel insurance is designed to take over the expenditure on your behalf should any of these events occur.

If travel is something you and your family love to do, it’s always a challenge when your budget bites back. However, by adjusting your priorities, being willing to compromise, and rethink the objective of your trip, you might be able to find a little room in your finances. For more financial education on this topic, you can call Old Mutual on 01-2719393 to arrange a free financial education session for your team, or on a one-onone basis. Our financial advisers can help you with the right kind of financial and insurance advice. For more information, visit your nearest Old Mutual branch or go to www. oldmutual.com.ng. We look forward to helping you with your money matters.