How To Pay for Your Dream Holiday

posted on Dec 3, 2021

Planning For That Dream Holiday? Here's How To Pay For It

Follow Page Financials on Facebook, Instagram, and LinkedIn to get daily inspiration on how to enjoy life. We want to help you live life to the fullest.

The biggest holiday season of the year is around the block, and quite frankly, holidays can be expensive, even more, most holidays are paid for in advance.

With significant, lumpy costs to deal with, it’s important to know how you’ll pay for your holiday. In this article, we’ll look at the three ways to pay for a holiday, with pros and cons for each.

If you’re already ready to look at finance options, Page can provide flexible personal loans of N5 million naira to finance your holiday - you can click here to get full details about the Page personal loan and how to apply immediately.

[ In case you missed it] Page Financials Emerges Most Innovative Consumer Lender of The Year for the Third Time at the BAFI Awards 2021

If you want to explore your options though, read on!

3 Ways to Pay for Your Dream Holiday

To be clear, the best way to fund your dream holiday is in cash, using disposable income. We’ll explain the nuances below, but the important thing to keep in mind is that credit options - such as a personal loan - shouldn’t be used as a way to live beyond your means.

For example, if a splurge trip to Bora Bora wouldn’t be affordable for you, then it’s not a good idea to take out a significant loan to fund it.

A better way to use personal loan can be to spread out the cost of a holiday. So, if you’re booking in your Christmas holiday and don’t have the money saved up yet, spreading that cost over a longer period can make sense.

1. Cash or Disposable Income

Paying for a holiday with cash or disposable income will almost always be the best option for funding a holiday. The big advantage is that - unlike with personal loans - you won’t have to make repayments, which carry interest.

However, one drawback to this is that due to our economic realities and social responsibilities, stashing cash somewhere isn’t always guaranteed to save up.

There’s always one need to cater for, leaving your holiday plans go in circles and never getting executed year on year.

2. Money from Family and Friends

Family and friends are another viable option for funding your dream holiday. This is also great since your family and friends might request for very little or no interests on the loan.

The drawback however is that this channel is highly unreliable since your friends and family members also have their own bills to settle.

Research has also confirmed that borrowing money from family and friends has shown to have severe consequences on relationships especially when there is any glitch in repayment. Do you really want to expose your relationship to that level of risk?

Think about it before you proceed with asking family and friends for money.

3. Personal Loan

A personal loan is a really straightforward way to fund anything, including a holiday. You borrow an amount, which you receive in your account as a lump sum, and make monthly repayments (usually via direct debit straight from your bank account) until the balance is repaid.

A holiday is a relatively common reason for a personal loan. On the plus side, a personal loan is a simple, easy to understand way to borrow money to pay for a trip.

However, with a personal loan, you’ll pay interest - if you have a very good credit history, this can be low.

A Page personal loan can be concluded in a day and the lump money will be paid into your account to be used to clear your travel bills.

Conclusion

The holiday bells are ringing louder by the day, decorations are taking over the streets and providing the ambiance that reminds us of one thing – The Big Holiday is here, but the question is are you ready for the kind of holiday you dream of?

Hopefully, you’ve found the above guide useful.

If you’re looking for a flexible personal loan of up to finance your holiday, you can explore our convenient loan by clicking here to access up to N5 million today.

If you’d like a one-on-one with us for financial advice, you can speak to a financial expert at Page for free by calling 017007243 or sending an email to customer@pagefinancials.com

Visit our blog at https://pagefinancials.com/blog for more inspirations on how to take charge of your financial life.

Follow Page Financials on Facebook, Instagram, and LinkedIn to get daily inspirations on how to enjoy life. We want to help you live life to the fullest.