Summers are here and those who haven't already planned a trip to to the hills may be rushing to do so now. Last-minute travel plans often entail last-minute scurrying around for travel mates or funds. This is especially true for those who may be just starting out in their careers and students looking for a break after their exams, as they may not have adequate savings or a travel kitty in place. Also, booking hotels and travel may be dearer at the last hour.
Vishnu Kalarikkal from Kerala's Malappuram, who works as a senior operations associate at a social media platform, didn't plan ahead in 2021 when he took a trip to Manali with his batchmates from college. Due to their last-minute planning, their travel and hotel expenses were significantly higher than the usual rates. While Vishnu had adequate money to fund his trip, not everyone may have that flexibility.
So, what do you do for funding such last-minute trips? Lenders and travel companies understand this need and many of them are now offering travel now pay later (TNPL) schemes. These are essentially a form of loan or credit that you can take to book a trip and then pay later in instalments within a specified period. These digital credit options are offered by partner banks or non-banking financial companies (NBFCs) of travel aggregators.
But are they the right choice? The answer to that would depend on factors such as the cost and convenience, and how you balance them.
Rising Popularity
TNPL schemes are now gaining popularity. They were launched on the back of the success of buy now pay later (BNPL) schemes in the retail space in the last couple of years.
Several travel aggregators like MakeMyTrip, Expedia, SanKash, along with a host of travel agencies now offer such solutions.
Bu hikaye Outlook Money dergisinin June 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Money dergisinin June 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms
5 Questions That Will Lead You To The Right Financial Planner
Choosing a financial planner is not as easy as it may seem. Besides the right credentials, you should also consider things like the kind of services you will be needing-tax advisory, estate planning-as well as the fee structure. Here are five questions that will help you choose the right planner
Health Insurance Sub-Limits
Sub-limits in health insurance are restrictions placed by the insurance company on the SP maximum amount they will pay for specific expenses that are part of the total hospital bill.
Delayed Gratification, Humility, Understanding Inflation And Risks Key To Financial Success
The journey to financial success is continuous, requiring patience, education, and disciplined decision-making.
Avoiding Common Pitfalls through Asset Allocation and Multi-Asset Investing
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Mutual Funds for Financial Growth
Mutual funds allow you to invest in small amounts and seize the compounding growth, and experts help tackle volatility and asset allocation, making them a potent tool to create wealth.
Multi-Asset Investing is The Financial Equivalent of A Well-Balanced Diet
Just as you track the calories and nutrients for a well-balanced diet, you need a balanced portfolio that has multiple assets to balance the risks and returns.
Theme and Triumph: How Thematic Funds Can Boost Your Bottom Line
Thematic funds target high-growth opportunities in various industries and economic sectors, allowing investors to participate in future-focused segments to generate long-term returns.
Wealth Creation Through SIP - The Slow & Steady Road to Success
For investors seeking to create long-term wealth, SIPS are a powerful tool that enables regular, disciplined investments to generate compounding returns.
Tuition Fee Varies Among Countries
I am 22 years old and have recently started working in a software company.