How Single Parents Can Finance a Holiday

Finance help for single parent holidaysAs a single parent, you like find money is tight more often than not, and that can make it difficult to figure out how to plan a holiday for you and your children. While the task may seem nearly impossible, you can actually make the dream of going on holiday a reality. To help you understand your options, here are some methods for single parents to finance a holiday without any undue stress.

Choose Less Expensive Options
When you plan some time away from home, you likely have numerous options from which to choose. However, if you are struggling with a low income, then it is best to choose a destination that is suitable inexpensive. You and your children can still have a great time and create wonderful memories without having to spend a lot of money.

Typically, the cost of lodging and transportation take up a significant amount of any holiday budget. So, by focusing on keeping these expenses low, you can lessen how much money you need to have available. Look into options that are relatively close to home to keep transportation costs down, or choose a destination where you can stay with friends of family to eliminate the cost of a hotel.

Then, select activities that provide a lot of value for their cost. Destinations like zoos and aquariums can provide a day’s worth of entertainment for just the cost of entry. You can also visit public parks or beaches to have a destination that doesn’t cost anything extra to enjoy.

Start Saving
Once you have an idea of where you will go and what you will do, you can start saving toward that goal. Examine your current budget to see if there are any opportunities for savings and begin putting money away for your future holiday. Even saving small amounts every week can add up quickly, so set aside everything you can spare so you can take your ideal trip without having to worry about additional expenses.

As you begin to gather the funds, check to see if you can get discounted tickets to attractions by purchasing tickets in advance. Places like museums and zoos may offer lower cost tickets online, allowing you to pay for your activities upfront and save money while doing it. Similarly, look into package deals or coupon books that can help you visit different places at a discount.

Check out these practical saving tips for single parents and other general savings tips here.

Consider a Loan
Whilst borrowing money and going into debt to fund a holiday isn’t always the best choice, sometimes you just need to get away and create some family memories. Fortunately, there are options out there to get a better deal with some lenders offering loans designed specifically to finance holidays. Others offer personal loans that can be used for any purpose. If you have good credit and suitable income, you may qualify even if you are a single parent and have only one source of income. Then, you just need to arrange to handle the repayment obligation, and you can enjoy your holiday without any financial worry.

If you do choose to finance, make sure to carefully examine the terms associated with the loan, including the repayment schedule and interest rate. If the loan would put you into a difficult financial position, it is better to save towards the goal than risk adding to your personal debt.

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