1. AIR MILES search (available in Canada).
2. Trip layaway.

Both of these are intriguing possibilities that can make your travel costs manageable.

AIR MILES search (available in Canada)

Admittedly, for those of us in the U.S., this is a bit of a bummer. Why doesn’t Yahoo! U.S. do something like this? At any rate, here is what the press release I received says about AIR MILES:

The fully-integrated AIR MILES Toolbar allows AIR MILES Collectors to earn free reward miles for searches powered by Yahoo!, displays account balances and ensures Collectors earn reward miles when shopping at the more than 100 AIR MILES online sponsors.

So, just by using Yahoo! for your search engine, you can receive points. I’m not sure that a air miles rewards program like this would allow the company to overtake Google in this country, but it might worth a try. Imagine if I could combine my AIR MILES from search with my other airline miles programs. Instead of one free airline ticket a year, I could maybe get one for my husband as well.

Trip Layaway

I found out about trip layaway over at Wallet Pop. Basically, it works in much the same way other layaway programs do. You choose a trip, and then you book it, and you make monthly installment payments until the trip is paid for. If you wanted to go on a cruise next October, and it cost $3,000 total for you and your partner, you could book the trip and then make monthly installments of $375 February through September. That’s much more manageable than paying for the trip all at once. And because it is layaway, there are no interest charges.

Hotels like Hyatt and some other companies accept layaway programs. You can find through places like eLayaway and layaway-travel.com. Be warned, though: cancellation fees can be steep, and you should check the policies — just in case a trip can be sold out before you get it paid for, or if it can be canceled without notice. Also, watch out for fraud. Make sure you are dealing with a reputable layaway service provider. While they may charge interest, credit cards at least have some protections built in with their use. Layaway services do not.

What travel programs make your expenses more manageable?

Post from: EveryJoe

Pay for Travel: AIR MILES and Trip Layaway

I understand that we all need cash reserves for emergencies but, can being a saver and being in debt be a good strategy? With interest on debt being higher than savings would it be better to pay off your debts first? What are your thoughts?

What a great point.

To some degree, this question is similar the post regarding whether or not to pay off a credit card with a CD. If you have debt that is eating away at your finances through interest payments, conventional wisdom says that it might be a good idea to pay it off quickly and then start saving. However, I still maintain that you can work toward both goals at the same time. Getting in the habit of saving is almost as important as saving itself.

In this economy, having some sort of savings is important. But it is also important to get rid of debt. Here is what I suggest if you are trying to figure out whether to build up savings or pay down debt:

1. Figure out how much extra you have each month.
2. Take 75% to 80% of that extra money, and use it to pay down debt.
3. Take the remaining 25% to 20% of that money and use it to build savings.
4. If you have a larger amount that you can put aside for these efforts, consider tweaking so that maybe you have an 85% to 15% ratio of debt pay down to building savings.

What do you think is the best course of action in this economy? Build up savings or pay down debt?

Disclaimer: I am not a financial professional. Any information you get from this site is not intended as advice. It is likely to be incomplete, and it may not apply to your individual circumstance. Do your own research, consider your situation and/or consult a professional before making money decisions.

Post from: EveryJoe

Build Up Savings or Pay Down Debt?