Outlook Money
Dreaming of exploring the world without compromising your financial future? Here is how you can manage and fix your travel plans responsibly.
Set clear priorities for both your investments and travel dreams. Set boundaries that serve your financial plan, risk management and income.
Travel should be a dedicated category in your financial plan. A clear travel fund ensures your adventures don’t disrupt your other forms of investments.
Set up automatic transfers to a travel savings account, just like your other investments.
Diversify your portfolio across asset classes to manage risk. This would minimise loses and you will be able to spare more.
Emergency funds are not just for domestic uses. They are way more important when it comes to international luxury trips. Before booking, ensure you’ve built an emergency fund.
Split your bonuses and extra income in different investments, use part for your next trip. This ensures that you don't splurge it all.
Opt for good experiences over lavish expenses. Research and explore places that you know are going to make you feel happy and relaxed instead of going somewhere everyone is talking about.