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Well your ultimate dream vacation it costs a fortune right.
But some companies are giving cash strapped individuals the ability to afford these vacations.
If they want to go into debt and put them on lay away travel expert Mark Murphy joins me now with -- I think the upside of the downside of would you do this.
And what -- did you do.
All right so for about a hundred dollars at the minimum you can put a deposit down lock in a price for your dream vacation and then start.
Contributing to that price overtime at about two to three months out.
You've got to -- clean with the full amount so it gives people basically a way to say towards a dream trip.
And locking in the price back up that idea what I like about it and as you know.
With airlines yield managing the prices are all -- you know I mean.
The price you pay today could be totally different from what you paid too -- I -- I'm gonna search.
Going back five minutes later -- -- for their class and everyone's had that experience.
So yeah the biggest challenge would.
The airline -- many times AAA when they don't like to lock in the airline price so you have to go to -- prolific British Airways vacations.
It's tied to a carrier typically you can lock in the whole package price and you can do it only eleven months out or -- -- -- -- -- make some decisions yes so.
British Airways who does this tell me the cup these -- -- there's a bunch of companies sell it even little travel agencies -- What -- -- lay away plan for you the locket and the -- with a schedule so you can do it -- most major companies doodling away concept.
And that the challenges on the air so you want to make sure that you get the air locked in because that's what's going crazy with -- -- yeah fluctuation.
My problem with -- paper so.
Get 10 wind right.
Paying cash for things that.
Are not you know.
-- good to -- -- buying car not buying house if you're buying groceries.
If you're putting gas in the -- you pay in cash because these are things gonna buy over and over get a hold onto a vacation while on vacation this experience CA have -- -- but no it was a way.
So you guys -- for that so if you put money Indus something's gonna wanna give it to a travel company.
I wanna call -- and turn it myself I wanna earn money on my -- And they they are okay but you know what you just mentioned the word experiences you can't get an experienced -- your gas gas tank.
You can't get enough what you're saying that with material goods so what are baby boomers and could you have Euro earlier person talking about millennial -- -- -- Baby boomers are spending their money on what number one thing I want to do travel.
They want to go places -- Gave up there and do it but he I have nothing against traveling rather happy that you have people do that.
I'm saying what's the best way to manage your money -- how do you make money on your money don't make money on your money.
By giving it to a travel company over time for then to make money on your money well and what are the -- involved here -- aren't here these are cancellation of CNN's.
On it depends on the company but most of them all with the minimum hundred dollar deposit the only thing you lose is the deposit.
What you get is you've locked in your price.
-- have -- write my kids.
It does don't care advocate I don't and you know -- forcing you to so it's just another option and that's the beauty of it to travel companies are giving you options.
So that you can pay for the dream trip -- just on the Norwegian -- brand new ship at a New York.
And you know what you -- on that -- People are gonna wanna get away and get out of New York in the summer and I'll take them right to Bermuda and they can just park the car save on -- and have a great getaway.
Listen -- I am all about that vacationing I'm happy that -- -- at consumers expect -- 12100 bucks per person on average.
For summer vacation this year quickly tell me your one favorite destination this summer.
This summer gosh you know what I want to get back to Asia like southeast Asia and I love the experience is all of the culture I love dude dude.
Food is great.
Anderson really crazy food especially the street food you get some of the best food you'll ever have on the streets of southeast -- aren't signing up but I'm not gonna pay over time OK now what we agree -- agree to disagree I -- you have five -- -- -- I don't know it's no problem -- -- -- -- I would get the -- Mark Murphy thanks for coming on bank that was five.
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