A trip with family or friends is the best way to kill all the stress. Stress comes easy, and to get rid of it, people need a break of any kind. But for the past year and a half, that break has been on pause. Due to the pandemic, theaters, parks, and gyms were closed, and travel restrictions were in place. Even bars and restaurants were closed. These are all the stress busters mentioned above, which had not been functioning for so long.
And now, many people are filled with all sorts of stress. It could be work pressure, family or relationship issues, or sadness for not seeing a friend for so long.
The best thing to do at such a time would be to take a trip with your friends and families. We are humans, not machines, and we need breathers to function at our full capacity. Which, if not taken, will only lead to an increase in stress, frustration and anger, and inefficiency at work.
Now, when planning a trip, the most crucial factor turns out to be money. You plan to release your stress by going on the trip, not increase it by thinking about the bills and payments you have to make at every stop. So, instead of thinking of any of that, you should apply for a Holiday loan (Personal Loan).
Why take a Holiday loan?
Some people may think taking a holiday loan is even a bigger headache than financing the trip on their own by emptying their bank accounts.
But, the simple thing that those people need to understand is that when you take a loan, you don’t lose anything.
You have your own money plus the additional money that you took as a personal loan, which will help you enjoy your trip to the fullest. The additional amount needs to be repaid, yes, but not in lump-sum. You can have up to five years to repay your loan amount.
It is about the peace of mind you need from a trip, which you may not have if you keep thinking about saving money on that trip. Later, you can start saving and repaying the amount in small tranches when you are back and fresh.
The right way to do this would be to make a proper plan and budget and then apply for a holiday loan from a good institution that charges a reasonable interest rate.
Planning
So, you can start by deciding how many people would be going with you, and if you are planning to go with family or kids, how many of those expenses will you bear.
After that is decided, you should start to choose a nice place you’d like to visit, or have always wanted to see. Then you can start thinking about the real expenses to form yourself a proper budget plan. You can begin by calculating the travel and hotel expenses, as these are the major expenses of any trip.
Your mode of conveyance will have a major impact on your budget; decide that wisely. Then your hotel bills, how many nights you will be staying at the place, and the kinds of rooms you would be booking, with meals or without them, etc. After thinking of all of this, you can start adding miscellaneous expenses, like food, park tickets, entry tickets, travel expenses (at the place of visit), shopping expenses, etc. After deciding on all sorts of expenses, you need to sum it up to form a proper budget.
Execution
Once your budgeting is complete, you need to formulate your plan and start looking for a good lender who provides you the loan easily, with reasonable interest rates, along with a good repayment plan that suits you.
Institutions provide loans based on a lot of things about the borrower.
You can refer to the list below:
- Income: Your income will matter a lot when you apply for a loan. You must have a good and regular source of income that gives you a good sum.
- CIBIL Score: Lenders check for your past credit history before lending you the money. You must have a 750 and above score to get the loan easily.
- Past Dues: Make sure to clear all of your past dues before availing of a loan from any institution. You must not be already in a huge debt pile to avail a holiday loan from any lender.
- Basic Verification: You need to be a citizen of India of age 21 and above. You must have valid Identity Proof, Address Proof, and Income Proof to easily avail the loan.
Now that you have applied for the loan, after successful verification and approvals, you can now enjoy your trip with your family or friends, whoever you decide to go with. You don’t need to worry about the money anywhere during the trip, that is, if you plan your budget well. And not worry about some additional expenses either, as you have your own funds safely kept in your bank accounts, the one that you didn’t have to use because you decided to take the loan.
