How to fund your European summer holiday

Whether you’re eyeing a drive along the Amalfi Coast, or a hike the Pyrenees Mountains between France and Spain, you’ll likely need to plan your finances before you jump on a plane.  
 
So, we’re sharing our best tips on how to fund your getaway.  

Using your credit card

Putting a trip to Europe on your credit card can be tempting. You can usually use one nearly anywhere.

A credit card can be a handy way to cover smaller costs, especially when you know you can pay off the balance quickly. Most Aussie cards offer interest-free periods, giving you breathing space to repay without interest charges. Just watch for high interest if you don’t repay the balance in full by the due date.

If your credit card has a rewards program, you might get bonus points when you book with certain airlines. Plus, some cards offer free travel insurance. But check the fine print for overseas charges like foreign transaction fees and ATM withdrawal fees.

Getting a personal loan  

Personal loans generally have lower interest rates than credit cards, making them a useful option if you need more time to repay than your credit card’s interest-free period allows.

They're repaid in regular instalments over a longer period, which can make budgeting simpler and more predictable.

If opting for a loan, look for one with no early exit fees like MONEYME’s. That way, if you get ahead on repayments, you can pay it off sooner and reduce the interest you pay over time.

Making the most of the share economy

You can take advantage of the share economy at both ends.  

Before heading away, check out platforms where you can rent other people’s homes (such as Airbnb and Stayz) and neighbours’ cars (such as Uber Carshare and Turo). These options are often much cheaper than hotels and hire cars from private companies.  

To boost your travel budget, consider listing your home or car while you’re away. That way, you can cover some or all of your rent or mortgage repayments while you’re away. Check out more tips for travelling on a budget.

Savour the holiday bliss  

Wherever you’re going in Europe, you want to relax when you get there, so you can focus on the next incredible adventure or meal. You don’t want to spend too much time or energy thinking about money.   

Organise your finances in advance, and you’ll be free to enjoy every minute.