Lapsiperhe iloisena lomalla

Save up your travel fund

Whether you are dreaming of a one-week trip to the sunny Canary Islands or a one-month backpacking trip to Asia, you can save up the money for your trip.

"The most important question when saving up for a trip is when do you wish to leave." Mika Pesonen, Sales Manager, OP

A one-week family vacation on the Canary Islands for four costs around 2,000 euros. A backpacker travelling alone to Asia can manage with around 1,700 euros. Whatever destination you dream about, you must calculate your budget and come up with money before your trip.

– For saving up for travel, I recommend a well-distributed fund that does not take too much risks. Of the savings funds, for example, OP-Conservative is a good choice if you are planning to take the trip within a couple of years and do not want to risk losing your money, says Sales Manager Mika Pesonen.

If you are dreaming of going on a trip in one year's time or next summer, saving on a bank account is also a good alternative, as the short saving period means that there is no time to benefit from the accrual of interest. If you wish to save up 3,000 euros, it will take one year and three months if you deposit 200 euros on the account every month.

For a trip to be taken in ten years, you can invest more daringly.

– I myself intend to go to Africa on a safari with my children in three years, and started saving up already a couple of years ago. Regularity is the most important thing, Pesonen says.

New York on a holiday savings account

Helsinki residents Niina and Jari will travel to New York for a week in a couple of months' time, their plans including various activities such as ice hockey and basketball games, and shopping. The household, consisting of two adults and one cat, saves on a separate holiday account with monthly deposits. For the New York trip, they saved for around one year.

– In the beginning, 100 euros went directly to the savings account from both of our accounts on the pay day. Now that the trip is getting closer, we are already saving 350 euros each month, Niina describes.

The trips, lodging and activities alone cost 1,500 euros per person. Shopping money, food and other necessities come on top of that. When calculating the travel fund, you must also take the care of your pet into consideration.

– If we cannot find a cat sitter, we will use a cat hotel and pay the fee. We want to prepare for everything so that there will be no surprises whatsoever.

We also need some headroom in case we run into trouble on the trip. It is not a good idea to rely on just cash or a debit card if, let's say, a flight is cancelled for some reason.

– On the trip, we will primarily use Visa for purchases, and pay off the Visa credit afterwards using the savings on our holiday account. We are also already planning our trip next summer, so any extra left on the account would not go to waste, Niina says.