Outlook Money
Holiday now, pay later schemes, especially targeting women travellers offer the allure of immediate travel without the financial burden, allowing individuals to spread the cost of their holiday over time.
These schemes function similarly to unsecured loans, wherein travellers can book their holiday packages upfront and repay the amount in instalments over an agreed-upon period.
These schemes often come with high interest rates ranging from 20 per cent to 30 per cent per annum.
For women travellers, these schemes offer the convenience of fulfilling their wanderlust without immediate financial constraints. It enables you to plan and enjoy dream vacations without having to worry about upfront expenses. However, it's essential to recognize the potential risks associated with such schemes.
Before opting for a 'holiday now, pay later' scheme, women travellers should explore alternative financing options. Additionally, budgeting and planning can help manage travel expenses more effectively without resorting to high-interest financing.
When evaluating the value proposition of 'holiday now, pay later' schemes, women travellers should carefully weigh the benefits against the costs. While immediate gratification may be tempting, it's essential to consider whether the additional interest payments justify the convenience.
Compiled by Syed Muskan