The ongoing pandemic has, for obvious reasons, caused many to second guess their decision to go on holiday, whether it’s over the winter period, in spring, or even in a few months’ time over the 2021 festive season. Not only is the list of countries that South Africans are allowed to visit still very short, but health considerations and budget restrictions are also a big concern for those who are looking to take a break.
This is according to Johan Kleu, Executive Head of Momentum Multiply, who points to the Momentum | UNISA Household Financial Wellness Insights 2020, published earlier this year. “It shows that the average household income has declined sharply.
The disposable income of the country’s households decreased by R27,5 billion between the first and second quarter of 2020. During the same period, outstanding credit reduced by R24,1 billion. Due to banks being wary of offering new credit, many households have limited access to credit – further limiting their holiday options.”
Even though these hurdles are clear, Kleu argues that making time for family and rest is still vital, especially in times of high stress and financial strain. “If you and your family feel that it’s time to get away, and it is safe to do so, there are still ways to make this happen, while remaining cost conscious.”
Adopt a money-saving mindset
While it is common for people to view holidays as excuses to splurge and spoil their families, it is necessary to start thinking about how to further stretch one’s budget. If you have a rewards programme as part of your medical aid or insurance, now is the time to start looking at what you can get out of it.
Many rewards programmes offer restaurant, accommodation or entertainment deals that could fit perfectly into your holiday. Make a few plans around the coupons, two-for-one deals and discounts that your rewards programme offers.
Start holiday hunting closer to home
Start looking closer to home for getaways. You may be surprised to discover how many getaway options are right on your doorstep, and again your available rewards may help to make this the most budget-friendly, fun holiday you’ve had so far.
Save, save, save
Start looking at how to get some extra holiday savings together. Putting a little bit more aside for your holiday is a good start, but don’t forget to have a look at the cash you can get back from earning loyalty points with your bank or insurer. Often, people forget that they have let their rewards points accumulate, and converting these to cash may make a meaningful contribution to your holiday fund.
At the same time, remember to take a look at how you can earn more of these points throughout the year. Your financial product that offers rewards points, should have an extensive list of retailers or services that give the most rewards when you support them.
Flights are cheaper if you plan better
Hunt for affordable flights – preferably well in advance. If you want to fly anywhere for your holiday, be sure to find the most cost-effective way to get to your destination. Quite often, direct flights are more expensive than connected flights. You should also do some research to find out when the best times are to book your flight, or which day of the week has the best rates for flights. Arranging your holiday around flight ticket prices may not always be easy, but the potential savings can make a significant difference.
Always stay safe – especially during these times
Lastly, don’t forget to look after your health. Before going on holiday, make sure that you are healthy and ready to travel. Also, don’t be tempted to throw all caution out the window. Staying safe and healthy should always be a top priority for any savvy holiday goer.
“Remember that embarking on a much-needed holiday this year is not only possible, it may just turn out to be the time out that you and your family so desperately needed to look after your mental health,” Kleu concludes.
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