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Showing posts with label Savings. Show all posts
Showing posts with label Savings. Show all posts

Best ways to save and invest money to fund my travels?

As a kid, I distinctly remember how elderly people used to consider visiting Varanasi or Badrinath or Vaishno Devi as once in a lifetime event. My father was an Indian Railway employee and had privilege of free train journeys; despite that our vacations were quite less, probably due to associated other expenses.


Gone are the days, when travelling was considered a luxury or once in a while affair. Travelling has now become a necessary part of our lives. Escaping Workplace Stress, Pollution are pretty honest excuses, but in reality it is financial independence which is driving this new found breed of vacationers.


During my early career days, I used to save and just save for small trips, hardly 250 -300 km. from Delhi. Such a trip along with a few friends, more than once in a year used to be a big achievement. The way I used to plan for these trips, I now see the youngsters plan for Thailand, Maldives, Eurotrip and practically much more than I ever could have thought of. By seeing the millennials plan for such foreign trips, I at times used to wonder – Who is funding their frequent travels? Are they availing Loans?

I know one of my friends, who took a loan to take his family abroad for a trip and proudly paid back a hefty interest amount for the next couple of years. Well, this was not so smart an option which he realized later, when he ended up paying interest costs to the extent of 20%.

There must be a better alternative to EMI’s and Investing is a smart way of saving. With investing comes the basic question Where and How much to invest? Being myself a travel enthusiast, I will be always open to explore any investment opportunity that can help me in continuing my travels even post my retirement with some luxury and adequate risk cushion. Why not? Why should I not? 

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