Money-saving tips to upscale your next trip

If you've only got a minute:

• Planning for your holiday starts with knowing your destination of choice and how you intend to finance the trip.
• Consider getting an air miles credit card to earn special benefits and privileges from your travel spend.
• If you are planning ahead for a holiday in the coming months or year, one way to maximise your savings is to consider conservative investment products.

This article was produced in partnership with TripZilla.

We all dream of the perfect luxury getaway to dreamy, faraway destinations. The biggest hindrance? The splurging that is likely to put a strain on your bank balances.

Planning for such a vacation usually takes more time and effort in terms of both the itinerary and finances needed.

While travelling on a budget can be just as enjoyable (if not more), why not start planning and saving up so that you can “Treat Yo’ Self” to a holiday where you can enjoy guilt-free spending and indulging?

Before you look at flights and accommodation, planning your trip starts with knowing your destination of choice and how you intend to finance the trip.

Here, we round up some of the top travel destinations along with some smart money-saving tips to help you carefully planning for that much-deserved dream getaway!

Best luxury travel destinations around the world

Many of us have a list of ideal places we’d like to travel to experience new adventures and take in new cultures.

Here are some top travel destinations to add to your checklist!

Europe

For discerning travellers seeking indulgent and unique adventures, Europe is nothing short of an exquisite destination for your dream luxury vacation. Look forward to a treasure trove of pristine natural landscapes and upscale cities while experiencing the rich heritage and culture each country and city has to offer.

From the ancient ruins of Greece and the charming cities of France to the picturesque coastlines of Italy and the majestic peaks of Switzerland, Europe has something for travellers looking for bespoke experiences. A haven of opulence and world-class wonders, London (aka The City of Royals), is not one to be missed, too!

Asia

One of the most popular regions in the world for luxury travellers is Asia. From gourmet cooking and upscale accommodations to amazing destinations and unparalleled hospitality, it’s no surprise that people with wanderlust are constantly drawn here.

Dazzling cities like Dubai boast internationally acclaimed attractions like Miracle Garden and Burj Khalifa, the tallest building in the world.

Japan has also long established itself as a premier destination for a luxury holiday, offering a range of exclusive experiences from the bustling streets of Tokyo to the ancient temples of Kyoto. Step into a world of ancient traditions, contemporary innovation, and refined service culture, all of which leave a lasting impression on high-end tourists.

Antarctica

One of the most captivating yet unspoiled luxury travel destinations in the world, Antarctica has drawn in travellers for its exclusivity and extraordinary natural beauty.

While it is often associated with its rugged glaciers and ice-clad landscapes, the continent also offers unparalleled adventures for curious explorers. Those seeking a luxury holiday here can embark on exclusive expedition cruises aboard state-of-the-art vessels or unwind in an upscale outdoor retreat with cozy accommodations.

Antarctica’s wildlife is certainly not to be missed; experiencing intimate encounters with penguins and seals is a regular occurrence here! Truly, only a few can compare to this frosty wonderland.

Africa

For your luxury tropical holiday, look no further than Mother Continent: Africa! From expansive savannahs to lush rainforests and pristine beaches, African countries offer a unique combination of natural beauty and cultural richness.

Jetsetters can experience exclusive safari tours in Botswana, unwind among Tanzania’s luxurious lodges, or explore the majestic wildlife treasures of Kenya like the Maasai Mara National Reserve.

Money-saving tips to make your luxury travel happen

Unless you’ve got a ton of money stashed away, going on a luxury holiday definitely warrants plenty of planning and preparation. The good news is that there are plenty of tips you can use to make luxury travel a reality in your life.

1. Get an air miles credit card

The easiest money-saving tip that can help you make your holiday to a luxury travel destination possible?

Getting an air miles credit card to earn special benefits and privileges from your travel spend! For instance, DBS Altitude rewards you with up to 2.2 miles per S$1 on retail spend.

Likewise, the DBS Woman’s World Card does just that and more! This credit card lets you get up to 10 times more DBS Points (4 miles per S$1 spent) on online and overseas purchases. That means you can shop till you drop while accumulating DBS Points to redeem air miles, shopping discounts, and dining vouchers.

Simply put, an air miles credit card lets you save up (and save more) for that luxury vacation by offering you incredible discounts and rebates!

Find out more about: DBS Credit Cards

2. Set up a multi-currency account

Another way to get ready for your luxury travel plans is to open a multi-currency savings account like DBS Multiplier. Thanks to the 13 different currencies offered, you’ll be able to expand your list of destinations.

On top of that, you can save more and grow your money because the account offers a competitive interest rate of up to 4.1% per annum (with no minimum amount required).

Want to spend and travel like a local? Link your DBS Multiplier Savings Account to your DBS Visa Debit Card as the primary debiting account and get access to 13 currency pockets for your convenience!

When you spend using your linked DBS Visa Debit Card overseas, your foreign currency transactions will be debited directly from the respective foreign currency pocket in your DBS Multiplier account.

Besides that, the DBS Visa Debit Card also works as the ultimate travel wallet. Enjoy up to 4% cashback when you’re on holiday – spend your foreign currency with no transaction fees and receive cashback on all spending, even online shopping!

Worried about loose change in your DBS travel wallet? With your DBS Visa Debit Card and multi-currency accounts, you can exchange any leftover foreign currencies for Singapore dollars (SGD) directly in your DBS bank account.

Aside from offering seamless transactions, you can do a foreign currency exchange whenever an opportune moment arises. That way, you also capture opportunities that arise from exchange rate fluctuations.

Find out more about: DBS Multiplier

3. Generate more savings through investments

Unfortunately, relying on your savings alone may not be enough to achieve your luxury vacation budget goals. If you are planning ahead for a holiday in the coming months or year, one way to maximise your savings is to consider conservative investment products, which are lower risk and less volatile.

Investing your funds can generate higher returns compared to regular cash deposit rates. DBS digiPortfolio’s SaveUp Portfolio is an option to consider. Besides this, the risk-free Singapore Savings Bonds guarantees your capital and has zero penalty for redemptions.

Alternatively, you can consider setting aside your savings in a DBS Fixed Deposit account (in SGD and foreign currency)

Opening a DBS Fixed Deposit Account lets you set aside your funds which is then locked in for a fixed period of time. In return, this account generates higher returns on your idle funds than the base 0.05% offered on most regular savings accounts.

Read more: How to build passive income streams
Find out more about: DBS digiPortfolio

4. Staying protected helps you tide over emergencies

Planning for your luxury travel is not limited to your budget and itinerary. Of course, the last thing on your mind is the possibility of something untoward happening. However, it is important to be ready for anything unexpected and safeguard your adventures with travel insurance.

Stay covered with TravellerShield Plus, your safety net for a range of travel-related risks and common claims!

Travelling to far-flung destinations for your luxury holiday?

The TravellerShield Plus assures you comprehensive coverage for Covid-19, overseas medical expenses, journey cancellations, and loss or damage to personal items.

In addition, TravellerShield Plus provides coverage for travel delays as short as 30 minutes – a first for travel insurance in Singapore. The plan also includes a cover for Frequent Flyer Miles and Hotel Loyalty Points.

So, are you ready for that much-deserved vacation among these luxury travel destinations? With these smart money-saving tips, you’re one step closer to making your dreams of luxury travel a reality. Explore these financial opportunities offered by DBS and multiply your savings today!

Find out more about: TravellerShield Plus

5. Use remittance services

Save on overseas money transfers with DBS Remit! With this service, you don’t need to worry about any additional fees when sending money overseas.

Enjoy S$0 transfer fees with a same-day transfer for 19 currencies and send them to more than 50 destinations worldwide. Experience a worry-free process with your remittance, because DBS also provides a tracking feature, so you’ll know when your money reaches its destination.

But wait, there’s more. Stand a chance to win up to S$5,000 when you Remit with DBS. Register for DBS Sweeter Deals before 30 Sept 2024 for your chance to participate and win.

Read more: Save more, wait less with DBS Remit
Find out more about: DBS Remit

Start planning now

So, what are you waiting for? With these smart money-saving tips, pampering yourself with that luxury vacation no longer has to be a dream.

Explore these financial opportunities offered by DBS and multiply your savings today!

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Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.