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How do Millennials Afford Vacations so Often?

How do Millennials Afford Vacations so Often?

For millennials, traveling is not something one does if they have the time and money. It is a top life goal! Millennials today are driving the travel industry, making the most of an average 35 days off in a year and spending huge amounts on vacations, revealed an Expedia research. 

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Bitten by the travel bug, they want to experience new places and cultures, go on adventures and take Instagram-worthy pictures. 

Traveling is a leisure pursuit that does not come cheap. So, how are millennials going on vacations so often? Let’s find out!

Travel deals

Millennials are deal hunters. With numerous apps such as Skyscanner at their disposal, they look for the cheapest flight tickets to save money on travel. They set alerts for their favorite destinations and grab tickets when they are priced at their lowest. 

They also do not mind roughing it out. If they have to take a flight with multiple layovers or travel by trains and buses, they are up for it. It makes for a fun adventure, after all. Another way to fuel their wanderlust is to go on road trips or bike across the country and even internationally.

Couch surfing

Couch surfing, Airbnb, hostels – there are many alternatives to hotels that millennials opt for. They do not pursue 5-star hotel accommodation. As long as they get a clean, comfortable space to live, it works for them. This has led to India witnessing the launch of several hostel chains where a global community of travelers meet, interact and share their experiences. 

With Airbnb and couch surfing (where they sleep on couches in other people’s homes), millennials don’t just get access to cheap accommodations but also an opportunity to stay with local families and truly immerse in the culture of the land. 

Work and play

Millennials often choose extended holidays. It is not uncommon to see them taking off for a month or six at times. They are able to do this and still sustain a good lifestyle by working on vacation. Whether it is working remotely for their employer, bartending at a local bar, teaching English at a native school or working as a translator, millennials are working hard and partying harder. By taking up jobs, they are able to go on longer than usual breaks, while still maintaining a healthy resume.

Travel loan

Giving wings to their flight, many banks and Non-Banking Financial Companies (NBFCs) offer lucrative travel loans. Millennials tend to make the most of the best loan for travel. While they do save up for their vacations, any shortfall can be taken care of with a travel loan. Extremely easy to get, these unsecured travel loans are very popular among the millennials. There also have the option of taking a personal loan for their holidays. Tata Capital provides flexible personal loans with easy repayment terms. Just fill an application form, provide minimal documents, and the funds are made available in a couple of days. So, check your availability and apply for personal loan.

Time to pack your bags and cross the next destination off your bucket list!

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