Determine your budget

The first step in budgeting for a holiday is to determine how much money you can afford to spend. Take a close look at your finances and determine how much money you can allocate to your holiday without putting yourself in financial jeopardy. Consider how much you have saved up and whether you can afford to put away a little extra each month in the lead up to your trip. 

Research your destination

Before you start planning your holiday, research your destination to get an idea of how much things will cost. Look up the price of flights, accommodation, activities, and food to estimate how much money you will need. Consider the exchange rate, as this can have a significant impact on your budget.

Create a budget plan

Once you have determined your budget and researched your destination, create a budget plan. This should include a breakdown of all the expenses you will incur on your holiday, including flights, accommodation, transport, food, activities, and souvenirs. You may also want to allocate a little extra money for unexpected expenses or emergencies.

Prioritise your spending

When thinking about “how much should I budget for holidays”, prioritise your spending. Consider what is most important to you on your holiday, whether it is luxury accommodation, fine dining, or adventurous activities. Allocate more money to the things that are most important to you and consider cutting back on less important expenses. Remember, you don’t have to do everything on your holiday – sometimes it’s better to focus on a few key experiences rather than trying to cram too much in.

Look for deals and discounts

When booking your holiday, look for deals and discounts that can help you save money. Consider booking your flights and accommodation together to get a package deal and look for special offers on activities or tours. 

Set up a travel fund

Be flexible

Finally, be flexible with your budget. Things don’t always go according to plan, and unexpected expenses can arise. If you find that you are running out of money or that your budget is not stretching as far as you thought it would, consider cutting back on some of your expenses or finding cheaper alternatives.

Learning how to budget for a holiday seems overwhelming but with careful planning and prioritisation, it can be a rewarding and enjoyable process. With these tips in mind, you can budget for a memorable and stress-free holiday in Australia or beyond.

Make the most of your holiday with a personalised loan

A personal loan for travel from Finance One can help you make the most of your holiday by providing you with the funds you need to cover your travel expenses. Personal loans can be used for a variety of purposes, including holiday expenses such as airfare, accommodation, meals, and activities.

One of the benefits of a personal loan is that it is unsecured, meaning you don’t have to put up any collateral to get the loan. This can make it a good option for people who don’t have any assets to use as collateral or who don’t want to risk losing their assets if they can’t repay the loan.

Another benefit of our personal loan is that it is available to those even with bad credit history. When it comes to applying for a personal travel loan with a poor credit history, trust Finance One, and get the unbiased and compassionate attention you deserve.

Normal lending criteria apply. Fees and charges are payable. Terms and conditions apply.

Finance One means:
Fin One Pty Ltd – ABN: 80 139 719 903
Australian Credit Licence: 387528

Disclaimer: The information above is of a general nature only and does not consider your personal objectives, financial situation or particular needs. You should consider seeking independent advice regarding your legal, financial, taxation or other needs, to check how the information relates to your particular circumstances. We do not accept responsibility for any loss arising from the use of, or reliance on, the information. All loan applications are subject to normal lending criteria. Fees and charges payable. Terms and conditions apply.