Foreign exchange giving an advantage to Australian travellers
While foreign exchange rates of the Australian Dollar (AUD) against the United States Dollar (USD) remain favourable for Australians, tourism to the USA should be quite advantageous. However, the costs of tourism within Australia haven't risen either and as the strong AUD is discouraging foreign tourism, it would be more helpful to the tourism industry if more Australians planned for domestic holidays.
If you have never been able to go overseas before, though, then now does seem like a good time to consider it. You may not have the savings to take full advantage of the current strong foreign exchange rate with America, but that doesn't necessarily need to stop you. It is quite common for people to take out personal loans to finance holidays, allowing them several advantages over saving.
Many people plan their holiday budget to include the use of their credit cards, but considering this amounts that could easily be built up, this could cost a lot of interest in the long run. By taking out a personal loan, you can plan a budget that takes extra spending into account, but likely at a lower rate than for your credit card. The other big advantage of using a personal loan for holiday finance is that you can act now, and won't be tempted to spend money you intended for a holiday.
Please visit our foreign exchange and personal loans pages for ways the banks can help you with your next overseas holiday.
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