Dreaming of taking an overseas trip every year? Here are our top 5 tips to make it happen…

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If you love to travel, then the thought of flying overseas to experience the many wonderful countries of the world is an enticing one. The problem is, although we Australian’s have it lucky (we live in a pretty great holiday destination ourselves) it comes at the price of being a long distance away from a lot of fabulous places. The travel time its self may not put you off taking regular trips abroad, but the cost can be a real road block for some.

1. Research the destination

So you’ve decided where you want to go, but how much do you really know about the area? Researching your holiday destination is vital to ensuring your holiday is affordable and enjoyable.

Investigate when the peak tourism seasons are (for example if you’re planning to holiday in Europe, their busy season begins in June and ends in the middle of September, as it’s their summer time school holidays) and work out a month where you can avoid the cost increases of peak season – trust us, it’s worth it.

If you’re planning on travelling to more than one destination, be sure to understand how much this extra travel is likely to cost you so you aren’t caught out by your budget. Inter-state flights and ‘island hop’ boat trips can all add up.

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2. Sign up to email alerts

No, we don’t mean subscribe to every single travel website in Australia – but our financial advisers do recommend keeping yourself on top of flight and accommodation deals by registering your email address for price alerts online.

Use websites like SkyScanner, a free online flight comparison website to check how different airlines vary in cost. You can opt in to get updates when your preferred flights change in price, a really useful tool if you’re travelling as a family, or simply just wanting to spend less on travel.

If you’re looking for more of a package deal, sign up to Luxury Escapes email alerts, for affordable luxury travel discounts. You could save hundreds of dollars on your overseas trip, plus the emails will provide you with inspiration and hot travel tips.

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 3. Budget as much as you can

Creating a budget for all aspects of your financial life will help you to manage your money more effectively. If you know that you want to travel overseas for 3 weeks of every year, then you’re likely to have a good understanding of how much this will cost you, so you can work out how much per month you need to save.

Cutting back on your day to day expenses (like a $5 coffee) can significantly boost your savings. Work towards a goal, remind yourself of it frequently and be strict with your spending.

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4. Protect yourself with travel insurance

Holidays are meant to be positive experiences full of exploration, adventure and relaxation, so it’s easy to become blindsighted by excitement about your upcoming trip and forget to buy adequate travel insurance. If you’re a regular traveler then many insurance companies offer discounted rates for annual cover which is definitely something to look into.

Planning for the unexpected is hard, but insurance can definitely provide some peace of mind and financial assistance should anything go wrong while you or your family are overseas. 

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5. Accommodation Tips

Other than flights, buying accommodation for your trip is the largest expense you are likely to come across when planning for your holiday. Along with keeping on top of upcoming sales and discounts, it is always worth mentioning to the accommodation you have booked if you’re going for a special occasion. For example, more times than not if you inform hotel staff that you’re on your honeymoon, celebrating a birthday or an anniversary of some kind you might be upgraded to a better, more expensive room. Give it a try – there is no harm in asking.

If you live in a tourist area and own your own home, consider renting it out on Air B and B for a week or 2 as a final boost to your holiday savings pot (while you stay with your family or friends). Although it may seem inconvenient, you could make a significant profit.

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Talk to us

Contact our friendly financial advisers who can help you put your travel plans into motion, and set you on your way to achieving your holiday goals for 2018 and beyond. Our advice team can help plan your budgets, effectively manage your money, guide your investments to help grow your wealth and provide insurance advice to ensure you’re protected no matter where you are in the world.

If you’re planning the trip of a lifetime and need to gain some useful advice on how to keep your finances health, get in touch with one of our expert team today.

Wealthness Pty Ltd t/as Better Financial Planning Australia will endeavour to update the website as needed. However, information can change without notice and Wealthness Pty Ltd t/as Better Financial Planning Australia does not guarantee the accuracy of information on the website, including information provided by third parties, at any time.

This information is of a general nature only and neither represents nor is intended to be specific advice on any particular matter. Infocus Securities Australia Pty Ltd strongly suggests that no person should act specifically on the basis of the information contained herein but should seek appropriate professional advice based upon their own personal circumstances. Although we consider the sources for this material reliable, no warranty is given and no liability is accepted for any statement or opinion or for any error or omission.

Wealthness Pty Ltd t/as Better Financial Planning Australia does not give any warranty as to the accuracy, reliability or completeness of information which is contained in this website. Except insofar as any liability under statute cannot be excluded, Wealthness Pty Ltd t/as Better Financial Planning Australia and its employees do not accept any liability for any error or omission on this website or for any resulting loss or damage suffered by the recipient or any other person.

Wealthness Pty Ltd (ACN 613 313 250) [t/a Better Financial Planning Australia] Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL Licence No. 236523. Source: Infocus Securities Australia Pty Ltd

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