Polls / November 28, 2011

Do you prefer to plan a holiday for months or buy at the last minute?

eZonomics poll respondents are split over whether it is better to plan a holiday months in advance or go at the last minute.

I can hardly wait
Whether it’s skiing in the alps or camping an hour from home, there’s an argument that the anticipation of planning a holiday adds to the fun. A last minute escape can be great (and is favoured by 46% of respondents in this poll) but Psyblog says, for example, that studies suggest “we get enormous amount of pleasure from looking forward to good things in the future”.
And, it adds, that reminiscing after the event increases the joy but it’s not as strong as the pleasure from looking forward in anticipation.
From an emotional point of view, then, planning months in advance might be the way to go rather than snapping up a last minute vacation deal.

And my holiday fund is growing
Looking at the money-side of holidays, it can also make good sense to plan in advance. One of the keys to a happy holiday is to ensure the costs can be met without causing financial stress.
An earlier eZonomics poll on holiday savings strategy outlines a way to budget. It says to decide the desired destination and duration of travel, work out expected costs (including travel, dining out, accommodation, sightseeing) and set up a dedicated holiday fund for regular deposits. If there is a specific date of travel, work out how many months until departure and divide the holiday total by the number of months to get the monthly savings target.
When travelling to a place with a currency different to your own, it can be a good idea to factor in a buffer in case the exchange rate shifts.

EmotionBudgetHappinessTravel

eZonomics team
.(JavaScript must be enabled to view this email address)

Have your say

Would you tell your partner about any money worries?