Travel is money well spent: It’s hard to put a price on great memories and adventures, says LEE BOYCE
My financial kryptonite is a holiday. At different points in the day, I can’t help but think of exotic excursions far away, sand under my toes, and cities yet to be discovered.
During this period between Christmas and New Year’s Day, when the warm weather seems long, Mrs. B. and I are traveling detectives.
We spend hours poring over brochures and looking for cheap flight and hotel deals.
Calculate the total: Check flight and hotel prices separately. Don’t assume that package deals are the cheapest.
There are a lot of ‘sales’ out there, but uncovering the really great offers is an art.
I have to say that Mrs. B has mastered it.
Here are her three tips.
- Be as flexible as possible to ensure the best deal.
- Check flight and hotel prices separately. Don’t assume that package deals are the cheapest.
- Do not listen to the recommendations of friends and family. Everyone’s tastes are different, so it’s only disappointing. (I learned it the hard way!)
All year round, we don’t splurge on new clothes, takeaways, gadgets, or get too carried away with Christmas and birthday presents.
But neither do we obsess over every penny on our budget spreadsheet. Life is too short to live on a grid of numbers.
The money you save by living within your means will be used to fund your holidays. Taking her daughter Brooke on an adventure is the best way to spend her hard-earned money.
When I go abroad, I turn off my cell phone and soak in as much as I can.
Memories and adventures of this kind enrich life in ways that are hard to put a price on. In my view, it’s money well spent.
familiar with debt
Many months ago, when I was grappling with a large amount of student loans and a junior reporter’s salary, I transferred some of my highest debts to a 0% balance transfer credit card.
This will keep you interest free for several years while you try to liquidate your balance. I have to say, it worked admirably – I managed to pay off my debt in a manageable way within two years and have never been in the red since.
As usual, in January, there are many people trying to get a fresh start financially and pay off their debts.
However, the number of months the best cards on the market give you to pay off your debt is dwindling.
In early December, four of these cards offered 30 months or more of interest free. Now there is only one deal left.
If you’re in the market for 0 pc cards, it’s worth considering now before the balance transfer bonfire rages on.
New Year’s MoT
Not one of the New Year’s money resolutions I have to break. Instead, we will have our regular annual (minor) financial audit the first week of January.
It sounds boring, but I always feel so much better after knowing where Mrs. B and I are in terms of paying off our mortgage. Also how our investments and pensions are doing. It is also an opportunity to check
We’ll see how much the slow dripping feed of cash into Brooke’s nest egg (which was opened shortly after she was born in 2018) has grown, too.
It is also used as an opportunity to review the balance of household finances. For example, one of the big problems I tackle is . Would you like to buy a bond?
It may seem intimidating, but the annual financial MoT can make you hundreds of pounds richer for the rest of the year.
Take a deep breath and dust off that spreadsheet.
You can thank me later.
Finally, I wish all readers a happy and prosperous new year.
l.boyce@dailymail.co.uk