How do you plan for your vacation financially? I spend around 2-3 lacs every year on travel and that money comes directly from my savings account. I was wondering if there is any other better way of financing my travel?
If you're an attractive girl, find a sugar daddy/sponsor/middle eastern sheikh
Else, get a premium travel-specific card (e.g. amex travel) since you do spend a significant amount on it. You'll need to pay one way or another 🥲
I use credit card points and try to plan 2-3 months in advance for leisure holidays mostly prices are normalised.
For example recently Westin rishikesh had offered 1night free on 4n booking combined with amex points can get it in very cost effective manner. No sane 1lkh investment will become 150k in a year but planning in advanced can give more ticket price value per rupees spent.
Pre set a budget not keep a single trip longer than week, spend time at destination, less hopping.
Over time I've come on conclusion it's either the likes of taj/marriot for vacation with family/friends or zostel/hosteller for solo or adventurous trip.
Others in between is a gamble can be headache.
Whats the ideal time in advance to book leisure holidays? I was checking some deals for June 2024 and the prices are no lower than what I am getting from Nov 23, for example. Is there a sweet spot where you get best prices
For what destination you're planning for in June 24, if it's rush season there that time general best case scenario would be booking march-april if you're into niche locations then do signup for postcard hotels / other boutique chains email they don't have much offers on aggregators but most rollout extra nights free in October/November.
Some properties will have best prices only on MMT and max on own portal, also do lookout for all-inclusive deals at booking apps, sometimes it's same price as base fare.
Get a travel Credit card like Infinia (3.3% base return), get add-on cards for all family and extended family members, like your parents, siblings, cousins, spouse, her parents, siblings, cousins.
Put all spends on it.
Even invest NPS accounts of everybody with Credit card.
Did you try to rob a bank? I mean if it works you get money for travel, otherwise you get to travel for free across various citis on goverments expenses, even they arrange a heavy police security specially for you.
If you are spending it within the year, the other options are only marginally better in terms of returns - liquid funds, short term fds. Too much hassle for very little gain imo.
Just put it in a sweep account - thats easiest and best for your use case.