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Avoid the holiday hangover

There’s no doubt that holidays help you achieve a better work/life balance but while it’s important to get away, coming home to financial strain will be a burden.

But with the right approach you can treat the family to a well-deserved holiday without breaking the bank.

The journey begins with a frank assessment of your current financial situation. This will allow you to determine how much you can allocate to your trip, and how it will be spent.

Start off by lining up your credit cards and totting up how far you’re in the red. Then look at any store cards, furniture finance and other debts that need servicing.

It’s also important to look at any upcoming bills and expenses such as school fees, car rego or council tax that are likely to hit your hip pocket in the next six months.

Taking such a stark view of your finances may be unsettling but your financial commitments could come back to bite you if they are swept under the carpet for the sake of an over extravagant vacation.

Knowing where you stand financially will allow you to create a realistic and effective budget to be used for the trip.

And should you need to, speaking to us can be an effective way to help consolidate existing debts or even release extra equity that you’ve accumulated in your property.

Cheap tricks
If a holiday is out of the question, planning a series of day trips could be a cost effective solution. Here are few quick getaway ideas that’ll keep the whole family smiling.

The great outdoors – Australians love the feel of being at one with nature and best of all it’s a very cheap option. There’s nothing better than a picnic or bush walk – and our beautiful national parks are everywhere. All the benefits of exercise and family enjoyment couldn’t be easier.

Hit the city – There’s always something happening in the city, so it’s well worth taking a look at what’s on. Annual events seem to run endlessly and with only a few minutes spent online you are sure to find hundreds of activities from heritage tours, art galleries, museums and festivals.