How to Pay for Your Dream Trip

Written By Alla Levin
November 16, 2021

How to Pay for Your Dream Trip

Many people worldwide have one dream trip they’d like to take. Whether it’s trekking the world’s highest mountains, seeing exotic animals in a safari, or taking in the sights and sounds of a big city, the world offers us so much. The only problem? Finding a good way to afford that dream vacation. Luckily, there are plenty of possibilities out there for you. By re-evaluating your finances and researching your options, you can find a way to make your dream trip a reality.

Sell Your Life Policy for Cash

This option requires a fair bit of consideration, as there are long-term factors to think about. If you have a life policy but don’t believe that anyone would benefit from it after your passing, you can sell it to a third party through a life settlement. The third-party gets your death benefits, and you get a lump sum of cash. This cash can be spent however you’d like, including on travel. It’s a good way to get a large amount of money quickly, but you’ll also be signing away your policy for good.

Create a Vacation Savings Accounthow to pay for dream trip

If you don’t mind waiting on taking your dream trip, you can open a vacation savings account. Many banks offer unique savings accounts for goals like this, often with great interest rates and low fees. Even better, many banks can set you up with automatic transfers weekly or monthly, where money will be taken directly from your checking account and deposited in your vacation savings. This is handy if you have trouble saving money.

Look at Your Credit Card Perks

While it’s not financially advisable to put any vacation on credit, you can still look into what credit card perks you already have available to help with your dream trip spending. For instance, you may have points collected that you can spend while booking your plane ticket or hotel room. These points can add up to huge discounts that can help you maximize your vacation experience while also helping you cut costs on your trip.

How to Pay for Your Dream Trip: Do Plenty of Research

There are many ways to travel hack your dream trip. This means doing a good amount of research before making any bookings to see where you can save. See when the off-season is in your dream destination — you’ll find that hotels are much cheaper during these times. Plenty of places also offer promotional periods for travel, especially with certain hotels or cruise lines.

Get Creative with Your Saving

These days, thanks to the internet and smartphone apps, there are many ways to save and make money to go towards your dream trip. For instance, you can rent out a room on Airbnb or even your car on Turbo. If you have some time off, consider driving for ridesharing apps or working for food delivery services.

You can even take up freelance work if you have an artistic side. Use your free time to work towards your dream trip, and it will arrive much faster.

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