The media would have us believe its time to shut the rollers on the holidays, but there are options.
Finding the best option for your family holiday especially when the economy is heading south can be a little challenging on the family travel budget. So what do you do? The family holiday is booked but now you are having second thoughts about going due to the value of your currency against other currencies. In fact your travel budget may have lost 30% or more due to this recession that world is seems to be slipping into.Some options for consideration
- Cancel your holiday and where the loss of any deposit forked out. This approach might be on the extreme side, but your deposit loss may well be a lot less than the difference in your exchange rates. Money saved could be saved for another holiday down the track however this approach may feel a little hardcore. Consider option 3 if your desperate for a holiday.
- Postpone or delay the trip till things improve with the economy and your currency is worth more. So you like to feel safe and don’t like taking risks well this approach of putting off may be your answer, however taking this step may make you feel like you are missing out on something. Best option if you booking allows you to move it out 12 months. Beware you may well be caught out with extra charges for booking changes etc.
- Continue your trip and reevaluate your budget by adjusting accommodation, destination and spending budgets. No banker is going to ruin my family holiday simply adjust your accommodation choices down a notch, look at what savings could be made by changing flights to none busy periods, travel out of peak seasons, or move and change holiday destination to a more affordable destination. At least this approach you will still get that holiday even if you money is heading south with you.
- Continue your trip as planned as you have already paid for everything. Grab the bear by the head and shake him you are heading on holidays and no sinking economy is going to stop me. See you in the charity line up on that return first class around the world trip!
- Continue your trip and return when the money drys up. Simply go for a shorter trip instead of 4 weeks go for 2 weeks, 2 weeks to 1 week. That way you get the holiday and you should be able to cover it on the budget planned. Great option if the flights are already booked.
The damage is done the governments have swung into overdrive to dig their countries out of recessions. But this is no good to you and your family who have saved for a year or more to take that big family holiday. Do you go kick a greedy banker well good luck join the rest of us who want to say our piece about there corporate greed. If it was me I would take the holiday as your money is just as important to another person to keep the cycle going, if you stop travelling then they will stop travelling and the whole thing will cease up like rusty old bike left in the rain. Tourism dollars are vital to any economy so go on get out and continue to travel overseas or at home. You will feel better for having one quite beer on some on else’s turf then on your own wishing you were travelling.
What will you do for your next family holiday let us know by commenting below.
