It is reported that one in two Australian citizens do not take their annual leave, which they are entitled to and hence, have more than 118 million days of annual leave stockpiled.  ‘My Four Weeks’ helps you plan your next holiday.

A fintech startup, My Four Weeks works with employers to automatically allocate a portion of an employee’s wages. This means that when the employees’ annual leave comes around, employees have money tucked away, without relying on expensive credit card debt or sacrificing the break that employees want and need to take.

With the average Australian paying $700 each year in interest alone on their credit cards and owing around $4,300 on each credit card, My Four Weeks promises a simple solution to stop people from racking up debt when they travel.

Labeled “superannuation for your holidays,” My Four Weeks ensures Australians take their leave, save up enough to make the most of it and help get their work-life balance in check.

The concept is simple— people sign up for an account on and nominate the amount they wish to save from each pay. Employers then transfer the nominated amount directly to a secure account before people can spend it, so members are saving without impacting their lifestyle.

Members are motivated by setting a goal and, a destination to begin with and are offered incentives along the way like cashback and discounts through partnerships with travel agents.

Founder Jamie Hyndman explained the startup wants to both help get consumers out of the credit card cycle and have them actually use up their banked annual leave. Previously a financial planner, he said the idea came from years spent helping people refinance credit card debt, while also seeing the toll constant work can take.

Identifying 25 to 40-year-olds as the startup’s target market, Hyndman said credit cards are its biggest adversary. The banks make them appealing, but in the end, a customer is still taking up bad debt. Educating the market about this and showing them the alternatives is crucial. He also added,

My Four Weeks enables Aussies to get back to taking holidays to destinations they’re desperate to visit. Through a simple saving plan, we’re helping members take control of their finances and escape the hold of the big banks and credit card debt as well as giving them access to benefits that will help them get to their savings goal faster.

Unlike a regular savings account, a My Four Weeks balance does not accumulate interest. Rather, the startup is looking to provide users with travel-related deals and offers to help enhance their holiday.

The service costs $20 a month, a fee Hyndman believes is affordable to users while helping the startup cover costs.

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