6 Ways to Save Money on Your Next Travel?

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It is summer vacation now with schools and colleges closed for their annual vacations. It is time people love to travel. When you travel, you incur a lot of expenses. However, people do ask this question frequently, “How to save money on your next travel?”

We shall see some simple but effective ways to save money on travel.

Have a budget

It is good to have a budget and stick to it. A budget is one of the best ways to save money on travel. Usually, people spend a lot of moneywhen they travel. Unnecessary expenditure can be an enormous strain on your resources. Of course, we do not suggest you compromise on the essentials. However, a budget can help you a great deal as you would know where you are spending your money. A budget can encourage you to spend within your limits thereby cutting out on the extravagance.

Plan early

Chalk out your travel plans neatly. You get attractive discounts when you book your flight tickets early. Visiting tourist places in the off-season can also help you save a lot of money. It is because you have a more extensive range of options to choose your accommodation. The volume of tourists is less in the off-season. Hence, there will be competition among the hotel owners to offer the best prices. It will help you save money.

Personal Loans can help

Banks and NBFCs (Non-Banking Financial Companies) have various Personal Loan products. If you are eligible for one and have a good credit record, you can avail Personal Loans. It entails that you need not spend out of your pocket. The best thing about these loans is that you do not have to disclose the reason for applying for a loan.

The banks are not much concerned about the end use of funds. Your income, repayment capacity, and credit history are the three principal factors for the approval of the Personal Loan. Access the website of personal loan service providers like MyMoneyMantra and compare various Personal Loans online. On choosing the most appropriate one, you can Apply for a Personal Loan Online. Nowadays, banks sanction these loans within 48 to 72 hours.

With a Personal Loan, it would be easy to have a budget. It is because you get the money upfront while you repay the loan in EMIs (Equated Monthly Instalments). You can plan better because you will know what your monthly outlay is.

Use travel Credit Cards

Banks and Credit Card issuing companies have various Credit Card products in their portfolio. The co-branded travel Credit Cards offer lots of benefits such as concessions in booking travel tickets, discounts on hotel bookings, and attractive cashback offers. Many cards come with the advantage of air travel miles. Such benefits make you eligible to get free online flight tickets as well. You accumulate air miles rewards points when you use your travel Credit Card for booking your flight tickets and hotel bookings. Other benefits include the waiver of foreign exchange conversion fees, free airport lounge access all over the world and so on.

Try to be a minimalist

Usually, people end up buying a lot of useless things while on travel. When we say useless, we mean that you buy things that you do not need. Have a minimalist approach and understand the difference between what you want and what you need. It can be tempting to buy things while on travel. Make a clear demarcation between your wants and needs. You will save a lot onyour trips.

Use cashback websites

Browse the internet carefully and check out the sites offering cashback on flight and train tickets. Many banks provide additional cashback benefits when you use their credit and debit cards for booking your tickets. You can use your cashback advantages constructively. You can come across various web portals that offer tangible benefits like extra night free stay in select hotels, complimentary breakfast or lunch, and so on. Do your research well. You might end up with an attractive offer.

We have seen six simple and effective ways to save money on your travel bills. Use them to your advantage. You end up having a great time exploring your favourite destinations while saving a lot of money. You can put this money to constructive use like providing for your children’s education, your parents’ health issues, and so on. Thus, you end up having the best of both the worlds.

Also Read: 6 Common Factors That Affect Your Loan Eligibility

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 60+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.

Talk to our Loan Specialists toll-free at 1800 103 4004 to know more about our products and offers.

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