Unlike what you may see on Instagram, continuous travel is pretty detrimental to your health and wealth. Although the health can be managed by eating well and following a fixed schedule of exercises, it is the wealth which can take a beating if you don’t plan properly. A lot of questions have been asked to us about how we manage to travel so much. So here are some financial planning tricks that allow us to travel so frequently.
Invest properly
Money sitting is money sleeping. One of the best ways we keep our financial juices running is by drawing out a proper investment plan for ourselves. We invest most of our money in ULIPs and mutual funds which keep our sources of income ticking over. Every time we come back from our trips, checking up on the investments is the first thing that we do.
Our salaries
Contrary to popular belief, you don’t have to scrimp your way through travels. Even though both of us come from middle-income group families, we tend to make our savings work without the help of sugar daddies or breaking our bank. Our salaries include a modest one of a surgical resident and a similar one we earn from the freelancing activities that Snigdha does. As we write about Travel, Food, and Beverage in multiple national and international print media, it usually tends to average out.
Working with Tourism Boards
One of the main perks that allow us to travel so frequently is that we tie up with multiple Tourism Boards. When we are working with these travel brands, they usually tend to offer us some of the services either complimentary or at a massively reduced cost. This further decreases the load on our finances while travelling.
How we augment our finances while travelling
We also work with a multitude of lifestyle products placing them in relevant photographs on our social media. We charge a fee from these brands for doing so.
Travel Hacks
One of the easiest ways that you can also incorporate our tips to reduce your finances while travelling is to look out for some solid deals on hotels and airlines that we regularly post on our blog. So you need to keep as astute eye out for all these deals.
We usually buy our ULIPs from Aegon Life Insurance. Aegon Life is a joint venture between Aegon one of the world ’s leading financial services organizations, and Bennett, Coleman & Company, India’s leading media conglomerate. Aegon Life’s product portfolio includes financial planning and investment solutions such as term life insurance plans, pension plans, unit-linked insurance plans (ULIPs), health insurance plans, child education plans, and more.
What are ULIPs?
A life insurance product – ULIP is a great option if you are looking for insurance and investment. In a Unit Linked Insurance Plan, you get market-linked returns. This means you get access to an array of investment options such as stocks, bonds, mutual funds and more.
Now that you know how we manage our finances while travelling, you can use quite a few of them too.
Image Credits: Visit Abu Dhabi, VIsit Denmark
