Traveling is one of the great pleasures of life. Most people use their vacations to travel, either to get to know a distant and new country, or to visit their family and friends.
In other cases, young people travel for long periods of time, whether for studies or because they are taking a sabbatical time.
First of all you should be clear about what type of trip you are going to use the loan. If it is for a study trip, there are student loans intended for that. Even your study center or government may have subsidized financing options.
If it is for leisure and vacation trips, you must use a personal loan for travel. And there are different ways to do it:
Finance vacations with a travel agency
Several of the large wholesale travel agencies offer financing facilities in their tour packages. That is, the packages include accommodation (hotel or similar), flights, some meals and maybe some tour or excursion.
Of course, you must bring cash for the purchase of souvenirs and for contingencies.
It is very important that you be clear about what is included in a tour package. In some cases only breakfast is included and you have to take care of the rest of the meals.
If you want to take a vacation and meet new countries without spending too much, consider the list of cheaper countries to travel from Mexico. If you have not visited these countries yet, you should give them a chance. Another option is always to travel within Mexico: spending will be lower.
Like travel agencies, airlines offer financing services for international or national flights.
In this way you can pay the cost of the flight (which is usually an important part of the budget for your vacation) in several months or even in a couple of years, in monthly installments.
The financing options for flights can be found on the official websites of the airlines or in travel comparators.
In some cases the financing will be directly with the airline, in other cases they will allow you to pay by credit card (possibly without interest, if you look well).
It is convenient that you plan that loan payments for this year’s vacations are no longer necessary when they touch your next vacation. That is, if you plan to take another vacation next year, the payment term does not exceed 12 months. In this way, you keep the possibility of financing your next vacation in the same way, otherwise you would have to overlap two credits and this is not convenient.
Bank loans for vacations
Applying for a personal loan from a financial institution is also an option; And on many occasions it can be the cheapest.
The interesting thing about applying for a personal loan for a leisure trip is that, if accepted, you will get an amount of money that you can use for the entire trip; including flights, hotel stays, meals, tourist activities and even the purchase of gifts.
If you make a budget of everything you are going to spend on your trip, you will be clear about the amount you should request.
You should always be very clear about the interest rates you are going to pay, the amount to be paid for each period and the term you have to do it. This will avoid unexpected surprises.
Each of these loan options has its advantages and disadvantages; The important thing is to be clear about how much money and what part of the trip you need to finance.