Borrow extra money for your vacation
I recently wrote about vacation pay. The current topic. Because also in the news much attention was paid to this theme. Learn more about borrowing money for the holidays this week.
School holidays will start in a few weeks. Then we remove the tent from the dust, pack our cars and leave on full roads to sunny places. A wonderful prospect, but also expensive.
A holiday abroad costs on average € 700 per person
Everyone knows that a vacation costs money. But how much does it cost exactly? I often make a budget before we travel. But sticking to it doesn’t always work. And I’m not the only one. Because 49% of travelers spend more than planned in advance.
According to CBS, a vacationer spends an average of € 700 on holiday abroad. Per person So with a family, a vacation is quickly in the papers. A holiday in your own country is a lot cheaper. Then we spend an average of € 160 per person.
Holidays on installment unnecessarily expensive
Consumers who just don’t have enough money can book an installment holiday. Various travel organizations offer this as possible. But is it wise? Not really. You can compare a holiday credit with a Continuous Credit, but with a very high interest rate. That is precisely the disadvantage of a holiday installment: interest rates from 11% to 14% are very normal. A waste of money, because you already take out a Continuous Credit for your holiday from 4.5%. So take a good look at your alternatives beforehand and compare quotes from different banks.
What to look out for when you borrow money for your summer vacation
Of course, savings is the best way to pay for your vacation. Because a loan costs money and means a commitment to the long term. Yet borrowing money is sometimes the only way to get away from it all. In such a case, I recommend that you take out a responsible loan in any case. With favorable conditions and low interest. For more information, read our 10 money-lending tips.