How to spend a vacation without any problems?
It’s vacation time. Most of us are looking forward to this moment and will try to rest, as it is called, on the full program. In summer, there are a lot of exciting things to do – grilled festivals, concerts, open-air performances, etc. However, all this requires a lot of expenses.
San Francisco Stay believes that in order to ensure that after returning from vacation the balance of the bank account does not cause stress, it is advisable to carefully calculate all the costs associated with vacation and then carefully adhere to the plan.
Constant monitoring of expenses gives you confidence that there will be no problems with money and that all plans will be implemented.
Lack of a plan triggers costs
Unfortunately, there is no tradition in Estonia of monitoring expenditure in the long term and planning the budget. The lack of plans leads to an ill-considered expenditure of money. If expenses are planned for a short period of time, emotional purchases are possible.
And if there is not enough money, we are more likely to use loans without thinking that it makes us pay more for goods and services. So, if you don’t have a clear plan for your vacation, then it’s time to weigh up your desires and possibilities.
You can prevent thoughtless spending of money during your vacation by keeping your vacation pay intact. Spending large sums of money is not difficult, however, pleasant memories after the holiday will not help to pay the bills.
Since the amount of holiday pay is the same as the amount you would have received if you had stayed at work instead of on holiday, it is best to leave the money intact to avoid the stress of your holiday.
Start making holiday plans as early as possible
It is advisable to prepare holiday plans, active spending and corresponding budgets for the whole year, as all this is associated with serious expenses. Early booking helps to take advantage of good discounts on air tickets and overnight stays.
It is better to start saving money for summer or winter holidays in advance. When you find out how much money is required for this, you can start saving small amounts of money for vacation every month, so that next year you won’t be stranded.
Should I take a loan?
The implementation of unusual plans sometimes takes a couple of years to save up. If you decide to take a loan for a trip, you should follow the rule that you should not take a loan for things with a short period of use. The time you spend on these things ends before you even have time to repay your debts.
For example, it is not advisable to pay for a tourist trip that has long been forgotten. If you need extra money for vacation plans, the time of repayment of the loan should not exceed one year.
If there’s been an overspending
In warm surroundings we tend to relax, and sometimes we allow ourselves to incur emotionally motivated and ill-considered expenses. Therefore, it can happen that, despite the preliminary planning, there is not enough money before the next paycheck. We should act as follows:
- Write down all the bills to be paid. Make a repayment schedule, and first pay the bills with higher interest rates or those that are closer to the due date.
- If you have accumulated bills, contact the company that issued them to agree on a new payment schedule or to get a deferral, if possible.
- Set strict limits on large expenditures (food, hobbies, meals outside the home) and follow them. Also, look for alternatives. For example, you can replace outdoor food with a picnic and enjoy your own meals.
- Avoid new loan commitments. Fast and small loans entail new, higher costs in the form of service fees and interest. Avoid overuse of your credit card as well.
- Think about earning extra money. For example, take an inventory of your belongings and sell items that you no longer use.