Your Dream Vacation! You’ve read several articles on travel blogs, compared ticket prices on the major travel portals, explored where you would like to stay on Airbnb; so you have a rough idea of the approximate cost. Now we need to set a date and a financial plan to make this dream come true.
Many millennials are taking personal loans to fund international or luxury trips. Why not pay SIPs instead of EMIs? Yes, one might have to postpone the trip, but there is the added pride of having earned it as well; which makes the fruit sweeter!
For short terms goals like a down payment for a car, a foreign trip, a major purchase or building an emergency fund; debt mutual funds are the way to go. They offer better returns than savings accounts and less volatility than equity funds. Which debt fund to invest in depends on when you will require the money.