With the advancement in technology, every industry finds new ways to engage customers and to extend their sales. If you are a keen traveler, you might have to face the situation where you are craving for a vacation, but could not save the money to fund your trip. Well, it happens all the time, and most of us have to postpone our vacations due to an insufficient budget.
But as we have mentioned above, technology and trends are changing, and it is affecting not only our lifestyle but the way we spend to afford that lifestyle as well. Have you ever heard of travel now pay later scheme? If not, then here we have gathered some valuable insight into the scheme to conclude whether the scheme could save you any money or not.
What is Travel Now Pay Later Scheme?
For those travel fanatics who could not afford their fare in a single installment various travel service providers have launched the Travel Now Pay Later Scheme. The scheme was initially limited to the fashion and makeup industry where you can buy the product and later pay for that products in small installments over the specific period. But witnessing the opportunity, now air companies are taking an interest in offering travelers Travel Now Pay Later Scheme.
Well, it sounds quite tempting and appealing, but you should not forget the costs involved in opting for this solution. Various costs involved in Travel Now Pay Later Scheme includes
Well, it sounds quite tempting and appealing, but you should not forget the costs involved in opting for this solution. Various costs involved in Travel Now Pay Later Scheme includes
- Upfront costs
- Interest on installment
- Late installment fees
So, while you choose the Travel Now Pay Later Scheme, you have to pay the air company some upfront fee to make your booking under this scheme and to work on your travel case. These costs are not very high but still adds up to the total travel cost that you have to bear.
After that, you have to adjust your installments and their regular payment to ensure you do not encounter any late installment fine. Whereas the interest is a concern, it entirely depends on your contract as to whether you have to pay interest or not, and if yes, then how much would be that?
The Travel Now Pay Later Scheme, although it offers ease of funding to the travelers they come with their drawbacks, and if you are looking for a cheaper option to finance your travel, then Travel Now Pay Later Scheme is certainly not the one.
My Takeaways
Unproductive time entails cost. You will not believe how much money you are losing when you make your time unproductive. These times can be spent more on playing with your kids, catching up with friends, reading books, or learning new skills that can earn you more money.
Life is very short therefore, maximize every time you have here and avoid unproductive things that cost more money.
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