Let’s Get Started!
How Do Installment Loans Work?
If approved for a loan, your lender will deposit your money directly into your checking account. Then, at predetermined dates, they will withdraw payments. This will continue until the bad credit vacation loan is paid in full. The terms of the loan and finance charges will vary depending on your lender and your credit history. There is no commitment required to get a quote though so it never hurts to see your options.
Installment loans are a great choice for you if you need the money right now or within a month or so. That short of a timeframe will leave you few other options to pursue and this type of loan can get you money in your account as soon as tomorrow.
Opening A Vacation Savings Account
Saving ahead of time is the best way to fund a vacation if you are not desperate to go right away. Unlike a vacation loan, it is not only interest free but actually interest earning. In addition, it gives you a nice savings account for emergency uses. Opening a savings account is usually free with a minimum deposit. You can open one alongside your regular banks checking account or you can open one at another bank entirely. If you think you might be tempted to use the money early, it might be best to use another bank.
Funding Your Vacation Savings
Now, let’s take a look at funding your vacation account. There are a lot of ways to find money for your new account. Here are the most popular but there are many others. The key is to be creative.
Automatic Withdrawal
Set up an automatic withdrawal from your checking account on your payday. If the money leaves your account immediately, it will be like it was never there. If you have a set date in mind for your trip, divid the amount needed by the number of paydays that you have until your trip. This will assure that you have enough money and prevent you from needing to take out a loan for it.
Cut Back On Expenses
There are certain things that you can not cut back on like housing, insurance and other fixed payments. Some things you can save on. These things include food (buy in bulk), eating out , entertainment, etc. The amount that you need to cut your regular expenses will depend on how much money that you need to save and the time that you have to save it. Consider using coupons when you shop and dine out. The money saved can be tremendous.
Get A Part Time Job
There are a lot of part time jobs out there these days. Grocery stores, for example, need night stockers and so do the big box stores. With the shortage of labor, many of them are paying pretty decent hourly wages. Another good job choice is driving for Uber or Lyft. You can work at these places when and where you a want. This gives you ultimate flexibility but do be aware that there are certain driving times that pay better.
Sell Stuff
Almost everyone that I know has some type of junk just lying around. Sell it and put the money directly into your vacation savings account. Not sure what you have for sale? Just take a trip through your garage. Chances are good you will find a lot of things that you can sell, much of it you probably forgot all about.
Pay For It With Credit
If you have a high interest credit card, this is probably not a good option. What you can do, however, is apply for a zero interest credit card to fund your excursion. If you have great credit, credit card companies might extend you an offer of 0% credit for a period of time. Make sure that the time is enough that you can pay the balance off before interest begins accruing.
This option is really only viable if you have excellent credit. If you have fair to average credit, most companies will not grant you this offer or the interest free term will be very short. Ideally, you want to choose a card that gives you a full year of no interest. This should be ample time to pay off the balance before interest starts.
If you choose this method to fund your trip, be cautious of cash advances on your card. They may not be subject to the same interest free rate. Read the fine print on your offer.
Use Your Credit Cards
Use your credit cards in a variety of ways to earn money for your vacation.
Earn Airline Miles
Most airlines have a mileage rewards credit card. Use it for daily expenses, things you would have used your debit card for, and pay it off every month. This will allow you to earn miles without paying high credit card interest. Keep at it and your airfare might be free by the time you travel.
Earn Vacation Dollars
Depending on where you intend to travel, there might be a rewards card for it. Look up your destination and “credit card” to see. Many major destinations now have rewards cards. This includes places like Disney, Sandals resorts and even Carnival Cruises. Use your cards instead of cash for regular expenses but be sure to pay them off every month.
Sign Up Bonuses
Lastly, let’s talk about sign up bonuses. Credit card companies want your business and they will pay you for it. These bonuses could be extra cash back rewards that you can dump into your savings or it could be free or accelerated airline miles. Check out a list of some of the best credit card sign up offers.
Take Surveys
Earn money for your vacation by taking paid surveys. Really? At Swagbucks.com, you can take paid surveys and earn points. You can start earning points and money right away if you like. You can then use those points to fund your trip in a variety of different ways.
First, cash out at regular stores like Target or Best Buy. Then, use those gift cards to purchase vacation cards at places like Disney, Delta Airlines, Southwest Airlines and more.
In addition, you can cash out your points at places that you intend to visit or use while on your vacation. This could be restaurants, airlines or movie theaters like Cinemark. It could also mean paying for your vacation clothing by cashing in your points in at clothing retailers like JC Penny.
Finally, you can use your gift cards to pay for regular expenses like groceries at Walmart. Then, take the money saved and put it into your vacation account.
Is Disney on your vacation list? Disney gift cards are on the menu at many survey websites. A great way to save up some resort spending money.
