It’s been more than two years since the pandemic was derailed Vacation Most people’s plans. But, now that travel restrictions are being eased globally, it could be the ideal time to have a vacation with your family. There are challenges though, and experts say you should consider these six key points to plan a stress-free vacation.
Destination Research: This should be the first thing you do before arriving for that airline ticket. Do some research on the destination of your choice and the hotel you plan to stay. Check out nearby tourist attractions and watch out for any seasonal activities such as festivals nearby. Plan your itinerary only after choosing your destination.
“before of travelIt is important to be aware of the rules and current situation of the destination you are headed for. There may be incidents or regulations that may affect your itinerary,” said Prahlad Krishnamurthy, Chief Business Officer, Cleartrip.
Plan your finances: If you are serious about going on vacation later this year, it is best to start planning your budget now. Both hotel and flight bookings have to be done in advance.
Anoop Bansal, Chief Investment Officer, Scripbox said, “The demand for holidays has increased, which has pushed up the prices of flight tickets and hotels. Planning your vacation will ensure easy booking of flight tickets and hotel rooms. You are the last. One has to budget for a very high amount (usually more than 30-40%) for minute booking, so it is better to plan your vacation ahead of time. A well-crafted plan and the right budget will save you from unnecessary This will help cut down expenses and ensure a stress-free vacation. It is important that you plan your vacation at least six months in advance,” Bansal said.
Invest for your vacation: Once you have decided on your destination and allocated a budget for it, it is time to make some investments that will help you achieve this goal without any hassle. This will help you get organized and give you the option to use your savings.
Bansal said, “To get the best rates, the booking needs to be done quickly and it will require some money immediately. One should invest in safe and liquid fixed income instruments to build a large corpus. This will ensure That you won’t break your bank or money for emergency or long-term goals.”
Currency issues: If you plan on an overseas vacation, currency exchange prices can be a pain. Chances are you may not get a favorable exchange. Typically, airport currency exchange and foreign exchange bureaus charge additional fees; Thus, their rates are not quite competitive.
Sudarshan Motwani, Founder and CEO, BookMyForex.com, said, “It is no secret that airports are an expensive option for exchanging money. Forex rates can be 8 – 15% higher than standard market rates online. The platforms sell forex cards at the exact interbank rate, i.e. with zero mark-up on top of the rates you see on search engines, meaning you don’t lose any value when you exchange your money.”
Go digital: The pandemic has changed personal preferences for payments from traditional cash transactions to online payments. “You can enjoy a vacation without cash and the stress of keeping it safe. However, keeping a small but substantial amount of cash with you can help in emergencies,” Bansal said.
Vaccination Mandatory: Keep your COVID Vaccine Certificate with you. Adil Shetty, CEO, BankBazaar.com said, “Before taking any trip, make sure you are clear about all vaccinations and tests. While most countries no longer ask for RT-PCR tests, local variations can still be caused by infection spikes. If you cannot travel due to an infection or due to any last minute travel restrictions, you should also review all cancellation and refund procedures before booking your ticket.”
Also, make sure you have a travel insurance policy that covers any ailments while traveling abroad that require isolation or hospitalization.
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Between inflation and the falling rupee, travel has become more expensive, and especially international travel. Prices for food, accommodation and flights have gone up, and you need to take additional costs into account when budgeting.
Also, due to the recent hike in interest rates, using a personal loan for your travels will become more expensive than ever. Hence, you need to be prepared not only to spend more but also to bear the burden of heavy Equated Monthly Installments (EMIs).