Summer is a period of vacations, sea, sun and fun. Here the question arises, how to have a cool time and at the same time not find yourself in a difficult financial situation. In this article, we will consider what to do to have a good rest and at the same time stay with money on the card.
Make a budget not only for days off, but also for the whole month
It often seems that a completely different stage of life will begin after the vacation. Therefore, there is no need to think about it in advance – when it comes, then we will start planning. But in order not to end up on the financial quagmire, it is worth applying another tactic.
For the vacation period, make a financial plan that will have several sections.
- Mandatory spending on recreation
This is the cost of tickets, payment of housing, insurance. The necessary amount can be calculated in advance – when you choose where and how you will rest.
Think about what you can save on. For example, try not to stay in a hotel, but to find an apartment with a kitchen where you can prepare your own food.
If you think about it a few months before your vacation, it will be easier to find an option that suits you. And immediately book a hotel room or apartment for the selected days. It may also help you save, because prices will rise during the season.
- Additional costs during the holidays
There will be expenses for food, entertainment, transport, souvenirs. Although it is not necessary to go somewhere and spend a lot of money for entertainment. One option is to immerse yourself in the world of online entertainment with Bettilt Casino and also have the opportunity to win money for souvenirs, for example. Food costs can be at least roughly calculated in advance. It’s also worth thinking about how much money you can allocate to the other items on this list.
During the vacation, try to invest in the set amount.
- Contingency reserve
As a rule, expenses always appear during vacation that you did not think about in advance. For example, you want to go to a nearby city. Or you will have to buy new shoes because the soles of the old ones suddenly came off. Or maybe you need money for medicine.
You should always have a cash reserve in case of force majeure. If everything goes according to plan and there is no need for additional expenses, you can decide how to dispose of the money from the reserve. You can spend them on the last day of rest or postpone them for the first time after returning.
- Expenses after vacation
This is the same important point as the previous ones. Before the vacation, you should think about what kind of money you will live on after it. Add to your budget plan the amount you would normally spend between the day you return and your next paycheck.
Calculate what you got. Perhaps the amount will turn out to be much more than you planned to spend in a month. Then think about whether you can save this money or better look for other options for recreation.
Start saving for your vacation months in advance
Some start saving for the next vacation as soon as they return from the previous one. Others – after the end of the New Year holidays. Others remember the upcoming holidays 1-2 months before they start. Choose the period that will be comfortable for you.
It is worth opening a separate account where you will transfer money little by little. Calculate how many months you have left before the start of vacation. Subtract the amount of vacation pay you plan to receive from the total amount from the previous point. Divide the remainder by the number of months. This will be the amount that should be saved.
If it is very difficult, think about where you will get the missing funds. For example, you can look for a part-time job. Or adjust future expenses by choosing another vacation option.
Make all required payments before your vacation
Utilities, loan payments, mobile communications and the Internet – do not miss a single regular payment. By the way, if you are going for a long time, part of the expenses can be frozen. For example, if you won’t need cable internet or satellite TV for most of the next month, let your service provider know in advance and stop paying.
If there is an opportunity, it is worth paying for electricity or utility services for the month following the vacation. Before the holidays, these expenses may seem insignificant to you. But later you will thank yourself for such care.
Therefore, to avoid financial difficulties, it is important to plan the budget. Creating a financial plan will help you with this. Following simple rules, you will be satisfied.