There is 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 bills that are likely to hit 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 have an effective way to help consolidate existing debts or even release extra equity that you’ve accumulated in your property.

So if your thinking of planning a holiday, and would like some advice on being financially ready, please contact me at Individual Home loans on 0749722081 or on my mobile 0410433919. .