Are you ready for a well-deserved vacation? So that you can pop again at work afterwards. Or do you want to finally make that dream trip this year, before it can no longer happen? If you do not have sufficient financial means yourself, borrowing at a low interest rate is a good option. Take out a responsible loan at a nice interest rate and before you know it you will be carefree with your feet in the warm sand.
Borrow so you can go on holiday
Borrowing money is becoming increasingly popular and accepted. For example, we borrow for the purchase of another car, or for the renovation of our house. Yet there is not much talk about borrowing money for a vacation. Would there still be some sort of taboo on it? Borrowing money for a vacation can be a smart move. If you have not yet received any holiday pay, but you see a nice last-minute deal passing by, it is actually advantageous to borrow money and book this holiday. When you have received the holiday pay, you can repay the loan with that money. You can also book on time and take advantage of the early booking discount by temporarily borrowing money. You are then in any case assured of a nice spot during the high season, at your favorite campsite.
The holiday credit is a revolving credit. This means that you take out a loan with a certain limit, but that you decide at what time you take out an amount. This way you always have enough money to hand when you are on vacation. A revolving credit has no fixed deadline by which the loan must be repaid. It offers the possibility of re-using repaid amounts. But when you have money left over, you can also repay without penalty. The interest rate of a revolving credit is usually lower than that of a personal loan.
Choosing a holiday loan offers more freedom than choosing a holiday loan. Because you are free in the amount that you withdraw and repay each month. Also the term in advance is not fixed, so you do not have to have fully repaid the loan before a certain date.
The holiday loan, also referred to as a personal loan, offers more security. Because you know exactly where you stand before you take out the loan. The interest rate is fixed and cannot increase or decrease when you pay off the loan. The duration is also fixed in advance. This way you know exactly when you have fully paid off the loan. In this way, the amount that you repay each month can be precisely calculated, the interest and the part that you repay each month are known in advance.
Choosing a holiday loan offers more certainty than opting for a holiday loan. Because the term, the interest rate and the amount that you pay per month are known in advance. This allows you to calculate before you take out the loan whether you can miss this amount per month, or whether the loan may be too high. In that case it is better to take out a less high loan, so that you do not incur any payment arrears.
Holiday mini loan
We also know the holiday mini loan under the name mini loan or flash credit. If you cannot take out a revolving credit or personal loan with the bank, you may have a chance to win a mini loan. This loan can also be requested when you have a negative BKR registration, cannot show a payslip or have a permanent contract.
Even though you don’t have a permanent contract to show the bank at the moment, you might have big plans to go backpacking. Taking out a holiday mini loan is then worth considering. You borrow an amount up to 1500 euros, which you must repay in a short time. The interest rate at which you borrow is unfortunately somewhat higher than with the personal loan or the revolving credit, but will never exceed 14%. That is determined by Dutch law. A big advantage of the mini loan is that it is easy to apply online without having to ask for all kinds of paperwork and documents. This saves you a lot of time. After your application has been approved, you can expect the money in your account the same day.
What is the best loan for your vacation?
Which loan is best for taking out when you go on vacation? That can be determined by everyone personally. We do, however, give you advice as to which loan best suits which type of traveler.
Are you a traveler who primarily enjoys freedom? Are you booking a holiday that you do not yet know how much it will cost in total or how long you will be staying abroad? Then the revolving credit might be the one that suits you best. If you opt for a revolving credit, the term of the loan is not yet fixed. This means that the loan does not necessarily have to be repaid before a certain date. You can also determine yourself how much you withdraw each month. If you have spontaneously booked a few days longer, you can withdraw some extra money from the revolving credit during those few days. And when you have money left over, you can also repay without penalty.
On the other hand, it naturally requires a certain degree of responsibility. This form of borrowing offers freedom, but you must be able to handle it. Withdrawing money endlessly and not paying off, you will end up with an expensive time. Because every amount you borrow must ultimately be repaid.
Perhaps you see yourself more as a responsible traveler. Do you like to plan your trip in advance and calculate exactly how much everything will cost, and then see how much you will spend on this trip? Then a personal loan is best for you. You borrow a certain amount, which you receive directly and in full on your account. You then repay a fixed amount each month. Consisting of a part repayment and interest. The interest is also fixed and will therefore not change during the time that you pay off the loan. And before you take out the loan, you already know when you will have repaid the loan properly.
But even if you are someone who does not have everything in order, the personal loan can offer an extra piece of structure. The duration of this type of borrowing is known in advance and you can no longer deviate from this. A nice stick to pay on time.
You may not currently have a permanent contract that you can show to the bank and therefore your application for a revolving credit or personal loan will be rejected. Or do you still have a negative BKR registration in your name and it is therefore very difficult to apply for a loan. It will not change the fact that you too would like to get away from it all. You just love to go on vacation and that won’t just change. Perhaps a mini loan would suit you best. You borrow an amount of up to 1500 euros and you are able to repay this in the coming months. Applying will be very easy and you can arrange it yourself online.
Please note that the interest rates are higher than with a personal loan or revolving credit. It is therefore advisable to calculate how much you will have to pay off, including interest, before you take out the loan. Are you going to succeed within a few months? Then you can take out the loan and quickly book that nice holiday.
Borrow money for vacation: 3 tips
Borrowing money for the holidays can be handy, but it remains interesting how you can then save on this loan. Saving money on your holiday loan is easier than you think. We give you 3 handy tips.
1. Select the correct loan form
It is wise to first delve into the different loan forms that are available and then choose the loan form that suits you best. You have all the information above to make a good decision.
2. Determine the duration
If you choose a personal loan, you determine the term in advance. You will have to pay off the loan within that term. The longer the term, the lower the interest costs. But then you also have to pay the interest costs for a longer period of time, which means that you are ultimately more expensive than if you keep the duration short. So don’t fall for low interest rates for a long duration and keep the duration as short as possible to save on this.
3. Compare loans online
Most people will go directly to their own bank to take out a loan there. That is of course allowed, you are completely free to do that. But don’t forget that large banks charge higher interest rates than smaller, online lenders. So compare the different lenders with each other online and choose the loan with the best conditions and the lowest interest rate.
Affordable holidays with these 7 saving tips!
Affordable holidays and maximum enjoyment, that sounds good to every Dutch person. What can you pay attention to and save when you book a holiday? How do you book your flight and stay as cheaply as possible? We will sort this out for you and gladly share this advice with you. The recommendations are summarized in 7 handy saving tips.
Tip 1: Early booking discount or last minute
Do you have to book early or late? When are you most advantageous? There is no ready-made answer to that question, unfortunately. If you have children and are bound to school holidays, it is cheaper to book early and use the early booking discount. In addition to the discount, you also have the assurance that you have a good holiday spot in the busy peak season. If you are more flexible, it may be cheaper to book late and to wait for an interesting last-minute deal. If you don’t have a specific location or data in mind, then simply choose the most economical option.
Do you want to book the airline tickets independently? Then don’t wait too long. The airline tickets will become more expensive the further you go towards the high season. There is a rule of thumb when it comes to booking airline tickets as cheaply as possible:
‘If you are flying to a business destination such as Washington or New York, book the tickets three months in advance. If you are flying to a traditional holiday destination such as Hawaii, book the tickets a month in advance. ‘
Tip 2: Useful apps and comparison sites for airline tickets
If you know well in advance where you want to fly, you can download the app Hopper. This app indicates when airline tickets are the cheapest. If the app indicates that the prices will still fall, click on ‘watching’ and you will automatically receive a notification when the price falls.
Once you have found the right time to fly, you can compare airline tickets through the following websites.
Tip 3: Delay? Money Back.
If you are flying with a European airline, you are in certain cases entitled to compensation in the event of a delay, transfer or cancellation of a flight.
Delayed flight: You are entitled to compensation when you fly from a European airport or fly back to a European country with a European airline. Compensation is then possible from a three-hour delay. In the event of a delay of more than five hours you are entitled to a refund of your ticket (maximum € 600).
Transfer: If you are refused to board, the reimbursement can amount to 600 euros per person.
Cancellation: If the flight is still canceled within two weeks before departure, you are entitled to a reimbursement. If there is force majeure, this does not apply.
Tip 4: Search for incognito
Often prices will rise if you have searched for a flight with a specific destination a few times. This can be prevented by searching for ‘incognito’. You open such an incognito window in Google Chrome or Safari with the shortcut Command / Control + Shift + N. For Firefox or Internet Explorer the following applies: Command / Control + Shift + P.
Tip 5: Check unexpected costs
Make no mistake about the extra costs that can be added when you book a flight. If you want to choose your seat yourself, you will pay for it in almost all cases. And view the distance from the airport to your holiday destination on Google Maps. Sometimes it is cheaper to book a slightly more expensive flight to an airport close to your holiday destination. This way you save on costs for public transport or a taxi.
Tip 6: Interesting hotel deal, book directly
If you have now found a good hotel deal that can possibly be canceled, our advice is to book directly. Check the conditions carefully, because in some cases cancellation is possible, but it costs money.
Tip 7: Alternative options
When you want to go on holiday in an environmentally conscious way, flying is not really ideal. Flying is a huge burden on the environment. Therefore, also check the offers of high-speed trains. Naturally, there are alternatives to hotels too. You can also go for a neat hostel, beautiful campsite or furnished apartment.
Saving tips on a comprehensive travel insurance policy
Are you someone who regularly wants to get away from it all during the year? A weekend away, a city trip, a week of winter sports and a summer vacation? Then a comprehensive travel insurance policy ensures that you can travel without worries throughout the year. Yet travel insurance is not something you want to spend a lot on when it comes to vacation expenses. There are ways to save on your travel insurance. We are happy to share them with you.
Choose from continuous or short-term
Are you going on holiday for more than 21 days a year? Then it is cheaper to take out a comprehensive travel insurance policy. In addition to being cheaper, it is also much easier to take out a comprehensive travel insurance policy. You don’t have to keep thinking about it and take out travel insurance again.
Choose from Europe or global coverage
Do you mainly travel within Europe, or do you prefer to explore the whole world? For people who mainly travel within the EU, it is cheaper to opt for the Europe coverage. If you travel outside the Netherlands, you choose the world coverage.
Special activities or longer travel time
There are also additional options that you can turn on temporarily. For example, are you going to undertake risky activities such as snowboarding or other dangerous sports? Then it is wise to turn on this cover in time and to turn it off again when you are safe and well back. You can also insure yourself separately if you are going to travel longer than the maximum permitted travel time. Also switch this extra option on and off in time when you get home.
It sounds logical that you do not have to double insurance, but many travelers do this unnoticed. Your travel insurance covers your medical costs abroad that fall above the Dutch rate. Your health insurance will automatically cover the costs up to the Dutch rate. So if you travel to a country where the costs are the same as the Netherlands, additional insurance is not required. And you may have additional healthcare insurance, which reimburses even more. Then you are also insured against extra high medical costs and you do not need to take out additional insurance.
Compare travel insurers
We cannot point out enough, the importance of comparing. In this case, compare the different travel insurers. Once you have determined what is the most suitable coverage for you, you will request that specific coverage from different insurers. This way you see that you will find different premiums. Choose the most economical, which in turn provides some extra holiday budget.