Have you got a case of the ‘could-have-been’ holiday blues?

It’s a new term that only could have been defined by the events of 2021, as every state has had a taste (or feast) of lockdowns and community transmission.

The impacts of COVID-19 are very obviously devastating. So a cancelled holiday doesn’t seem like much to complain about in the scheme of things, does it?

But it’s a disappointment none-the-less! After a tough 18 months, our tired minds are in need of a break and a dose of sunshine.

It’s not only disappointment you face when another holiday is cancelled - what about the money you’ve spent on accommodation, flights, tours, etc.?

As financial advisors we thought we’d share a few tips on planning a holiday during COVID times to protect your bank account (and cushion the fall of disappointment!)

Check your cancellation policies

This might seem like an obvious one, but with the tourism industry hit hard by the pandemic many accommodation and tourism providers are tightening their cancellation policies to protect their own back pocket (understandably.) 

Make sure you read the terms and conditions before paying any deposits or booking any accommodation. If a 100% refund for cancellation is not available, you may need to compromise for a partial refund policy if you have your heart set on that dream AirBnB with the pool!

Have a plan A, B and C (and maybe even D?)

With many tourism providers offering credit vouchers for COVID related cancellations, having multiple dates in mind can be helpful when rescheduling/planning a holiday. 

Recently I enjoyed a holiday with my family filled with many unplanned detours. We spent one week in Lorne, Victoria then split our party and went separate ways. Some went back to Tassie, some flew to Cairns! Remaining agile is important and unfortunately the risk of quarantine is likely to follow you wherever you go.

Weighing up the risks and having a back-up plan (or multiple) helps you avoid disappointment and still experience a joyful holiday.

Don’t forget to set yourself a budget for each plan and decide how much extra you are willing to spend on changing your holiday plans. This will help you make decisions on alternate routes, accommodation and activities, knowing you have a financial limit to stick to.

Book flexible leave

Taking time off work can put you out financially if you are a casual employee or are taking leave without pay. If possible, book tentative leave so that you aren’t left with a holiday in your living room.

Explore your local area

Use this time to see more of your own backyard! This is a low risk and high reward option. Embrace spontaneity and grab out a tourist map - you’ll be surprised how much you may have missed as a ‘local’.

Joining Facebook groups for local travel tips can also be a great way to explore new areas of your home state.

If you live in Tasmania, here’s a great guide to enjoying the “off season”.

Financially, this is the best option too! Taking mini weekend trips can save costs on flights and accommodation - all whilst supporting the local economy.

Author: Michael Harvey