As we near the end of 2021, the holiday spirit in the air combined with travel restrictions being lifted, it’s time to start planning to go out of town for Christmas. The past two years have been tough on everyone and a break is just what is needed to start the new year on the right note. While the pandemic may have been tough on the purse strings, you shouldn’t let this stop you from enjoying a Christmas holiday. The option of taking a personal loan to finance your holiday will prove to be a smart choice.
Depending on what you enjoy, you can pick a destination that best suits your holiday vibe. From a beach party at Goa to wondrous walks on the promenade in Pondicherry, there are many options for your holiday destination. The next decision you need to make is how luxurious your holiday should be. Whether you prefer staying at a luxury resort during your Christmas holiday or enjoy the festive feels with the locals, whether you would rather take a train than fly to your destination or just enjoy a scenic drive, or perhaps you might want to explore the snow caps in Europe or stay closer to home – these are all factors that will determine your budget and how much of a personal loan you will require.
A personal loan will help finance your stay, your meals, your travel and your shopping, making it a one-stop solution for all your holiday expenses. Not only are there are no conditions on how you get to spend the money you get from a personal loan, but they are also disbursed instantly, making it easy to apply for and easier to get. The flexibility of personal loans play a massive role in benefitting you. Using a personal loan EMI calculator, you can calculate the EMI and tenure schedule that works for you based on your income, your financial requirements and your cash flow. The flexibility of the tenure lets you pay off the loan stress-free. Banks offer competitive personal loan interest rates to those who have a good credit history. If your credit rating is good, that means you pay all your EMIs on time and don’t default on your credit card payments, etc. If this is the case, you can benefit from a personal loan interest rate that could possibly be even less than your credit card interest rate.
Another reason why you should opt to take a personal loan to fund your Christmas holiday instead of paying for it from your savings is to keep your investments growing and earning for you. When investing, most people keep a travel goal for every year. Be it international or domestic travel, it is usually budgeting into your investment plan. When planning for a trip, the investment is redeemed to realise the travel goal. However, what if you kept that money invested or invested it in a longer term financial instrument to earn more than you’d pay on a personal loan? Essentially, you’d be making money by taking a personal loan instead of spending the money you have saved up.
During Christmas, all the destinations are decorated in their finest glory. From Shillong to Kerala, the places are ready to welcome tourists. Being the peak travel season, Christmas holidays can work out to be more expensive. Therefore, it is prudent to explore the option of taking on a personal loan that ensures you enjoy your Christmas vacation on your terms with your loved ones, without worrying about going over budget or spending all your savings. With a personal loan at your disposal, you can start planning your Christmas holiday today.