Single mother Ivette Chedraui and her 12-year-old son Jacob have used a 12-month lay-by payment plan to book a holiday before jetting off through a service called LayAway Travel. Picture: Supplied.

Millions of Australians travel overseas every year and many use credit to pay, now some aspirational jet setters are using to an online lay-by travel service LayAway Travel to pay off their dream getaway before they set sail.

Jetsetters can lay-by their getaways and pay for their holidays before the set sail.Source:istock

The online service which launched 18 months ago includes flight and accommodation packages and this week expanded to offer cruise trip to holiday-hungry travellers.

LayAway Travel’s managing director Andrew Paykal said the service which requires no upfront payments and has no fees and charges, allows cash-strapped travellers to make their overseas fantasies become a reality.

“These are people that otherwise thought they couldn’t travel and they don’t have $5000 or $6000 to part with but they would love to book a family trip,’’ he said.

“With a little bit of forward planning if they booked a trip in school holidays next year their payments will be the equivalent to a cup of coffee per day and they can work that into their family budget.

“We have made it very seamless for people to book with us.”

Travellers have periods of up to 24 months to pay for the trip before the leave and the service requires regular payment instalments.

Travellers have up to 24 months to pay for holidays using a lay-by service before going on a trip.Source:istock

Single mother Ivette Chedraui and her 12-year-old son Jacob booked an overseas holiday to Los Angeles 12 months ago and she’s set to leave next month.

Conceding she’s terrible with credit cards she used LayAway’s 12-month payment plan to pay for the $5000 trip including flights and accommodation.

“I’m not very good with my finances so I don’t want to have credit cards,’’ he said.

“I’ve paid $15 a day for the trip and I don’t have to worry about it because the money came straight out of my bank account.”

Consumer finance expert Lisa Montgomery suggests consumers read the fine print before signing up and people to make sure they are not paying too much for their holiday.

“I think the idea is good because he can help people budget for a holiday with having a hangover of the payment on their credit card when they get back,’’ she said.

sophie.elsworth@news.com.au