Buy now, pay later (BNPL) services are growing in popularity in the travel industry, especially among younger generations – recent research found that 34% of Gen Z travelers have used BNPL to fund a vacation. When you don’t have the cash to pay for a trip in its entirety upfront, using a BNPL plan can spread out the payments, affording you more time to save up the money. These plans typically are interest free, meaning you won’t end up paying more than you initially budgeted for.

There are, of course, some things to keep in mind when booking a holiday in this way. For lots of people, the temptation of booking a break without much of an initial financial commitment can encourage impulse spending. To avoid falling into this trap, it’s important to have a budget in mind of how much you can afford to spend – and understand how that budget might change further down the road. Think about when the repayments will be due, and manage your spending accordingly to avoid falling into a bigger hole after returning home.

Flexibility is key

When looking to make your travel money go further, it’s always helpful to be as flexible as possible. Naturally, when vacation timings are often dictated by school holidays, this can be more challenging. However, there are lots of other ways you might look to be more flexible away from the time of year you travel. First of all, think about the timing of your booking, since prices can  fluctuate significantly at different times of the year. Similarly, rather than heading to your nearest airport, consider venturing slightly further away from home if it means you can take advantage of cheaper flights.

Away from the transport, another area you could be flexible in is the destination. If you don’t have your heart set on a specific region or country, it’s worth exploring different places away from the  typical tourist trail, where you may be able to take advantage of lower prices and smaller crowds. It’s normal (and advisable) for parents to make convenience a priority when traveling with their children. However, by doing some research, you may find that a small point of compromise could go a long way toward boosting the affordability of your next holiday.

Make the most of discounts and offers

Travel companies are always keen to entice parents to book their next holiday, but understand that the financial commitment of doing so can put a lot of would-be customers off. As a result, it’s common for airlines and accommodations to offer discounts for parents or their children to make travel more affordable. Deals like free child places, single-parent discounts and money off activities once you arrive can all help your money to go that much further.

In what is a highly competitive space, travel companies are vying for your custom. As a result, it’s always worth doing a little extra research during the planning process to find the very best deals to take advantage.