How to Travel this Year While You Continue to Reduce DebtJan 17, 2019
January is a time of looking ahead for Canadian families, as they plan what to do and where to go in the year ahead. Balancing vacation plans with your need to reduce your debt can be difficult, though, especially if you want to be able to get away without sacrificing your long-term financial plan.
Plenty of families have made vacation part of their plans for the next year. In Saskatchewan and Manitoba, 61 per cent of respondents to an Allianz Global Assistance survey in November said they were confident in taking a vacation in the next 12 months.
With that in mind, here are seven blogs to help you think differently about frugal travelling — allowing you to get away without abandoning your plan to reduce debt.
- “This is How You’ll Feed Your Family on Vacation Without Breaking the Bank” – Yummy Mummy Club When travelling, the cost of food can add up quickly. Here you can get some tips on how to take advantage of your hotel, picnics, and other cheaper meals at your destination.
- “6 Useful Hacks for Budget-Conscious Travelers” – And Then We Saved Skipping bottled water and using photos as souvenirs are just two ideas presented here that will have you saving money in innovative ways.
- “How to Plan Your Finances as a Digital Nomad” – The Balance If you’re someone who travels for a living and works freelance, the line between vacation and work can be blurry. This blog helps outline how to budget when you’re not tied down and what savings to prioritize.
- “How Much It Cost to Travel Europe for 2 Weeks” – The Wallet Diet Exploring Europe is on plenty of bucket lists, but the cost can seem unwieldly. This post is just one person’s example of how much a two-week trip costs and where to find savings.
- “Travel Like a Minimalist: Souvenirs” – My Alternate Life If you’re someone who hates clutter, wants to save money, but likes to bring home souvenirs from your vacation, this post can help give some ideas for what to bring home without breaking the bank.
- “Travelling Abroad? Read These Tips About Financial Fraud Before You Go” – Yummy Mummy Club There’s nothing worse than getting to your destination and having financial fraud derail your trip. This post gives you the warning signs of fraud, including phone scams, and how to avoid them.
- “Travelling While in Debt” – My Alternate Life It’s possible to travel while in debt, but there are some definite dos and don’ts. This post prescribes staying away from big credit card purchases and offers some interesting ways to save money by planning ahead.
Of course, it’s never a good idea to make a big vacation spend without understanding your debt situation. By checking out some of the resources available through the Financial Consumer Agency of Canada (FCAC), you can answer some common debt questions, use a calculator to get your monthly payments and more.
If you combine this understanding of how to reduce your debt with budget-friendly travel tips, there’s definitely a possibility of getting the vacation you want in 2019.
Have other frugal tips for travelling? Share them on social media using the hashtags #LeaveDebtBehind, #NewYearMotivation and #Parents.