A safe and relatively inexpensive holiday that’s still enjoyable is something that every one of us desires. To organize a budget holiday, early financial planning as well as efficient spending management are essential tactics.

Let Timo help you to plan that 2019 budget holiday with 4 simple tips below.

1/ Choose the right period of time to travel

Choosing the right time to travel helps to bring many exciting memories and manage costs effectively. Start your trip in the middle of the week instead of travelling on holidays or weekends. This will help you to save more compared to what you would have to spend during peak travel times.

Travelling during low season can easily be memorable if you plan it properly with adequate preparation and a clear itinerary. During this period of the time, you might also easily find flight tickets for almost nothing as well as special deals on accommodations. Travelling costs in low seasons are always 2-3 times cheaper compared to travelling during peak season.

2/ Set up a savings account for this trip

Having a savings account is one way to start your early financial planning. Open this savings account 3-6 months prior to your trip to gradually contribute every month without letting your savings affect your monthly expenses.

If you are a Timo cardholder, you can easily open a savings account for your trip with Goal Save. This feature allows you to open a  short to mid term savings account with your own choice of target date and desired savings amount. You can also choose to either add an automatic contribution every day/week/month from your Spend Account or manually contribute whenever you want. And if you need the funds to purchase your flight tickets or accommodation ahead of your target redemption date set in Goal Save, you can withdraw money from this savings account instantly to pay for the expenses.

Find out more about Goal Save here.

3/ Book your flight tickets and accommodation smartly

The industry revolution 4.0 has led to the growth of many smart travel-related mobile applications and products designed to make people’s travel experiences convenient and more enjoyable. The evolution of internet and today’s travel-related products have enabled customers to make travel plans right on their smartphones without having to go anywhere. Booking tickets for transportation and making hotel reservations online helps to save time as well as money since there are usually many special promotions offered from these service providers.

In the pool of travel-related service providers, Gotadi.com is currently one of the most well-known travel services providers as it allows users to easily book flight tickets and accommodation at affordable rates with attractive offers. Gotadi.com is also the first partner bringing Timo’s smart feature, EasyPay, to customers. When choosing EasyPay as a payment method for services bought on Gotadi.com, you can settle your payment in the Timo app instead of having to enter your card/account details on the website. And it doesn’t require a credit card, but instead debits your Spend account directly. This will help you to retrieve your transaction details, secure your account and complete your payments quickly.

4/ Buy travel insurance

Travelling with family/friends or even alone would be more memorable when you are rest assured that you and loved ones are fully protected from unforeseen circumstances when travelling. Nobody wants their trip to be interrupted by unexpected issues and incidents, and this is why travel insurance is a must for every trip. Travel insurance is usually divided into into two types: travel insurance for domestic travelling and travel insurance for international travelling. You only have to spend a small amount of money when buying travel insurance, but this can help you to save up to millions of VND incurred from risks and unexpected problems that can happen on a trip.

If you need to buy international travel insurance, Liberty Insurance is currently one of the most reputable insurance companies in Vietnam. To bring peace of mind to you and your loved ones, Liberty Insurance offers three comprehensive travel insurance packages. These Liberty TravelCare plans are applicable for international travel and can be used by Vietnamese citizens or permanent residents in Vietnam under 75 years of age. At only $1/person/day, Liberty TravelCare plans protect you against risks such as:

  • ​​Overseas and local medical treatment expenses for illnesses and accidental bodily injuries
  • Overseas compassionate visit
  • Trip cancellation or postponement
  • Loss of or damage to baggage or personal effects
  • Loss of money or travel documents
  • Loss of or damage to the household contents in Vietnam residence due to fire

Liberty Insurance can be purchased instantly in the Timo app within a few minutes. Find out more here.