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Plan a holiday by saving for it

An annual vacation is something that most people aspire for. Some people want to take a holiday to escape from their hectic work schedules while others take a holiday to reconnect with their families. Then there are people who seek adventure and want to explore new places. Whatever the motivation for a holiday might be, it cannot be disputed that in order have a successful vacation, one must plan in advance. A big part of this planning is to create a holiday fund that can help you finance your perfect vacation.

Steps for creating a holiday fund to finance your dream vacation

Decide the location and time frame - The most important thing is to decide the holiday destination and determine when you would like to take your holiday. These two factors will strongly influence the corpus required to finance the vacation and the investment risk that you can take to build the corpus, respectively. For example, a summer vacation to Europe is definitely going to cost you more than a weekend trip to Goa.

Determine the cost - To create a fund for your vacation,you need to assess the total cost of the holiday. The two main costs considered are usually transportation tickets and accommodation. In case, you are travelling overseas then you also need to factor in visa cost and currency exchange rate. Additionally, you need to make a list of all the essentials including the cost of food, transportation at the holiday destination and sightseeing.

Make an investment plan - the investment portfolio that you create for your holiday fund will depend upon when you want to take this holiday and the total amount of money that you would require to achieve this goal. Below, we share an indicative split between high risk and low risk investments based on the above two factors. *

Low Risk High Risk
High Cost, Short-term (less than one year) 80% or more 20% or less
High Cost, Long-term (between 1 to 3 years) 50% 50%
Low Cost, Short-term 80% or more 20% or less
Low Cost, Long-term 40% or less 60% or more

*These asset allocations are indicative. The actual allocations will vary depending upon the individual's overall risk profile, return requirements and existing asset allocation.

Please consult your financial advisor to create an investment plan that is customised to meet your requirements.

Go a step further - if you are planning a family vacation then it is always a good idea to involve your family in the planning and saving stage. Teach your children the importance of saving and budgeting and incentivise them to save for the holiday. Consider cutting down on some discretionary spends and instead save up that money to shop for holiday essentials.

Some people believe that planning for a holiday can sometimes be as much fun as the holiday itself. It is important that a part of this panning includes financial planning as well so that the destination is as much fun as the journey.

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Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Scheme Riskometer**

**basis portfolio of the Scheme as on June 30, 2024


*Investors should consult their financial advisers if in doubt about whether the product is suitable for them

Benchmark Riskometer**

**Basis constituents of the scheme as on June 30, 2024


*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


*The PRC matrix denotes the maximum risk that the respective Scheme can take i.e. maximum interest rate risk (measured by MD of the Scheme) and maximum credit risk (measured by CRV of the Scheme)

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