Many people are hoping to travel for vacation this year, especially since going on vacation last year was difficult if not impossible due to the COVID-19 pandemic.
If you are planning to take a trip during the holiday season, it might be a good idea to book your vacation now. Here are three possible reasons why you should think about firming up your plans.
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1. You can finalize a price and save for your trip over time.
Travel can be expensive, and it’s ideal to save over time rather than borrowing to pay for a vacation. If you book a vacation trip now, you can find out exactly how much your trip will cost you. Once you know the price, you will have several months to save the money you need to cover it.
In most cases, you can make a small deposit now to book travel and pay the rest as your travel date draws near. This way you will have time to save and pay in cash. But if you need to pay the full price up front to pre-book, consider using a 0% TAP credit card that offers a special introductory rate on purchases.
You can pay for the trip on your credit card and then pay off the balance monthly between now and your trip without paying interest. Just make sure you do the math and can fit the monthly payments into your budget so that it gets paid off before the card introductory rate ends.
If you use a travel card, you may even be able to qualify for a new cardholder bonus when you sign up for your 0% APR card which helps cover the cost of part of the vacation.
2. You can book before popular destinations fill up
If vaccination rates continue to rise and the number of Covid cases begins to decline again, it is very likely that many people will travel this year due to pent-up demand. After all, it had been a long time since going on vacation seemed safe, which means that a large number of travelers have postponed their trips.
Popular destinations could fill up quickly once pandemic conditions start to improve, and you could miss the chance to make it to your preferred location if you haven’t booked in advance. Of course, if other variations arise or the vaccines don’t multiply as quickly as expected, your plans could change. So you’ll want to know the cancellation policy in case pandemic conditions deteriorate.
3. You can lock in today’s prices
At present, inflation is high and there is a strong possibility that the upward trend in prices will continue. If you wait to book, the cost of your vacation could end up going up. If you book your trip now, however, you should be able to lock in your vacation at today’s prices so you don’t have to increase your budget if things get more expensive.
Of course, you want to make sure that you feel safe and in good financial shape before you plan your trip. But if you are committed to taking a vacation this year, it can certainly pay off to book your trip as early as possible.