Saturday, May 19, 2018

Funding A Villa Vacation Tuscany

By Michael Young

The summer season is the ideal time to take a break and embark on a memorable getaway. As much as you might be looking forward to going on an overseas journey this year, you may realize that you do not have enough money in your bank account right now. You need to come up with another way to pay your way to your chosen destination. By using different means to finance a villa vacation Tuscany visitors like you do not have to miss out on an exciting opportunity to travel.

Your first option could be to take out a line of equity credit against your home. This strategy depends of course on whether or not you own a home. You cannot get a home equity loan if you rent your residence, for example. It also banks on what kind of credit rating you have. People with homes and good credit typically can borrow up to 50 percent of their home's value in this kind of loan.

These types of loans are typically low interest and fairly easy to repay. They also could be tacked onto the mortgage you already have on the property. You end up making one payment each month. You also have cash in hand which you can use for any purpose including paying for a summertime getaway to an overseas location.

People with high credit ratings also may qualify for an unsecured bank loan. An unsecured loan means you do not have to put up any kind of collateral like your house to get the money. It is based entirely on your credit rating as well as your employment or income. You are free to use the money however you wish including paying for a summertime getaway.

Perhaps you do not have the high credit rating needed for a home equity or unsecured loan. Instead, you may have credit cards with open availability on them. You may use the credit available on the cards to fund the getaway. This option would allow you to make monthly payments on the cards once you return home from the journey.

As a last alternative, you might qualify for an advance against your paycheck. Some employers allow employees to borrow against their future paychecks. You may receive anywhere from 10 to 30 percent of your future pay in a lump sum payment that is added to your next paycheck. This option may be a last resort, however, because it takes away from money that you might need to live on in the future.

People who do not want to go into debt and also avoid running up their credit cards may see the wisdom in saving up for a vacation. They avoid spending more than they can afford. They also have a set budget to stay within during their travels. You may save up over the course of 12 months and use that cash instead of credit.

Financing a vacation does not have to mean breaking your bank or going into debt. Depending on your credit rating, you may have several options available to you. You also have the option of simply saving up the money you need for taking a journey to a villa in Tuscany or any other location.

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