Australians are looking to domestic travel as the Australian dollar lowers but good strategies will help you get overseas.
With the Aussie dollar at a four-and-a-half-year low, nearly half of Australians say it will affect their holiday plans in 2015. The research undertaken by St. George Bank reveals 45 per cent of us are deterred from international travel due to the low dollar. Figures from Tourism Research Australia also show we are favouring domestic trips, reporting how in the 12 months to September, domestic overnight trips rose by five per cent to 79.7 million trips.
However our research did show that the higher the age group, the less worried about the dollar travellers become, with two thirds of those aged 25 and under saying the dollar deterred them, compared to a third of those aged 45 and over. While the falling dollar is definitely good news for domestic tourism, don’t be too disheartened if you want to travel internationally.
Some simple saving strategies will help make it possible. Here’s some tips for saving for a holiday in 2015:
1. Start with a total destination budget — work out where you want to go and how much it will cost you each day. Include everything from food to sightseeing and then you will have your total savings goal.
2. Break your savings goal down into a weekly amount, so if your total holiday cost is $3000 and you have six months to save, this equates to a savings goal of $115 per week.
3. Take a look at your budget to see if you’ll be able to reach your goal in the timeframe set. Can you find more room in your budget to save? If not, consider adjusting the holiday budget or time of travel.
4. Set up a ‘holiday fund’ savings account and have an automatic payment into this account every pay. If you have any extra cash, transfer it into your holiday account.
5. Use a travel money card which can be preloaded with your funds and used just as a credit card. You can even load multiple currencies for multiple destinations and buy when the exchange rate is good.
6. Book early to get the best discounts, fly outside of peak season if you can and use travel comparison websites for the best deal. Also check if your credit card offers free travel insurance, so you are not paying for it twice!
7. Pay as much as you can before you leave so you won’t have any nasty surprises and you’ll know how much you have left to spend while you are there.
Call 3235 6701 to discover how St.George can help you save for your next holiday.
Does the Australian dollar affect YOUR holiday plans for 2015? Are you planning for a trip somewhere this year and do you have any saving tips you want to share? Let us know in the comments below…