Plan your holidays in advance but stay within the budget

One hack is to book early, preferably during sales events by airlines and travel agencies

- Sue-Ann Tan

The new year has barely begun, but people have already been asking me what my travel plans are for 2025.

For those freshly returned from 2024's year-end holidays, a way to counter the back-to-work drudgery is to begin planning all over again.

I admit that I have already planned for holidays until August, and it seems that I am not the only one.

Booking early is a travel hack everyone talks about when the topic of holiday planning comes up - how to stretch the budget most effectively while covering more ground.

It's always a delicate balance between several factors, including the number of leave days to take, the travel period, the money spent and the enjoyment derived.

Ms Jacquelyn Tan, head of group personal financial services at UOB, has booked her flights for the year. "Book flights and travel packages as early as possible, preferably during periodic sales events organised by airlines and travel agencies, to maximise savings," she said.

She also monitors the currencies of countries she intends to visit as early as possible, and buy them when the rates are favourable.

OCBC's managing director of investment strategy Vasu Menon said he booked a trip to Phuket for June 2025 during the SQ sale from Oct 25, 2024, and saved almost 40 per cent on the cost of flights - the promotion offered flights for four people at only $678, including taxes.

"My family's travel arrangements are usually made six months to a year in advance," he added.

But even before making any bookings, setting a budget for the year is essential, experts said.

It is easy to get swept up in a wave of spontaneous trip planning, but that doesn't bode well for the wallet.