Are holidays on plastic really just “plastic holidays”?

What camp do you fall into when it comes to holidays?  Do you make sure it’s all paid for in advance with your own money or do you tend to slap it on the plastic now and worry about it later?

Obviously not everyone is disciplined when it comes to their money and a lot of people spend up big using their credit cards to pay for holidays. If that applies to you, here are some tips to help you save for your next big break without relying on debt.

Start with a plan. Create a simple budget. Automatically allocate some money from each pay to a separate account and don’t touch it. It will quietly build while you plan for your holiday.

Hide it before you spend it. If you already have credit card debt, schedule an automatic deduction from your cash account direct to your credit card from every pay. In both of these tips, if the money isn’t there, you can’t spend it.

Sell something. Do you have unused gym equipment, a bicycle you never ride, or even clothes you’ve hardly worn? Have a big clean out and stage a garage sale, or sell it online. Reduce your card balance or top up your holiday account with the proceeds.

Use windfalls. Are you due a bonus or tax refund? See yourself on the holiday of a lifetime. You know where it’s going!

Spend less. Careful spending doesn’t need to impact on your lifestyle. Try these ideas:

  • Entertain at home rather than at restaurants or pubs.
  • Lay-by birthday and Christmas gifts during the store sales throughout the year.
  • Check out upmarket clothes recycling stores; they often have designer clothes at bargain prices. No-one will ever know!

Ask for help. Sometimes it’s difficult to get back on top of debt by yourself. I have plenty of other great suggestions that can help, or if you would like to share your experiences and ideas for our readers, we’d love to hear from you. Just add your suggestions below and we can all help each other.

Emma Brooke FINANCIAL ADVISOR
Emma Brooke
FINANCIAL ADVISOR

It feels great to be on holiday knowing that you won’t return to debt. The freedom this gives you makes the holiday even more enjoyable. Try it then send us your holiday snaps and tag them online with #financialindependence!

IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII

 



Emma Brooke is an
Authorised Representative No. 329891 and Credit Representative No. 402910 of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523. GTC Financial Services Pty Ltd ABN 69 596 897 575 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit License No. 236523.

Warnings and Disclaimers
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.