Summer is the time for vacations, at this time many people dream of going on an unforgettable journey. Someone imagines a vacation on the shores of the azure sea with white sand, a chic hotel and shopping. Some, on the contrary, are planning a more extreme vacation with diving, river rafting, surfing and mountain climbing. However, in order for the dream to come true, one cannot do without such a banal thing as money.
There are two main ways to get money for a trip - you can either save it or take a loan for this purpose. The only question is what is the best to do.
Leave on credit: pros and cons
It makes sense to take out a loan for a vacation only in the following cases:
- you do not have the opportunity to accumulate the required amount by a certain date;
- you have savings, but it is not possible to achieve all the desired goals at their expense. At the same time, all goals are important and not one of them can be postponed to a later date (for example, payment for training and treatment);
- in the near future, you will have large spending, so you cannot use the existing savings now;
- you have a significant amount of personal savings, but you plan to place it on more favorable terms (for example, invest in stocks), so it is better to get a loan than to miss the opportunity to make a good profit;
- your income will soon grow, which will allow you to pay off the bank ahead of schedule and reduce the amount of overpayment on the loan;
- you take out a credit card loan and plan to pay off the debt before the grace period ends.
In all other cases, obtaining a vacation loan can hardly be called a justified measure. In addition, taking a vacation loan is dangerous for several more reasons:
- on vacation, you do not want to save, therefore, when applying for a loan for vacation, they often take an amount 20-30% more, which leads to a more significant overpayment;
- on vacation, most tourists have a rest "in full", so upon arrival home they find themselves either completely without funds, or with a minimum balance of the "vacation budget", while the salary is still far away. In this regard, many people prefer to take a vacation loan for a long period (3-5 years) in order to reduce the amount of the monthly payment, which in turn leads to a significant overpayment.
- returning from vacation with a loan and without savings, there is a risk of deterioration in the financial situation of the family as a result of any unforeseen event (unplanned expenses, delay or decrease in wages, loss of work, etc.).
Deposit: instructions for use
The best option is to prepare in advance for the vacation. You should start planning your travel expenses about a year in advance. Of course, this approach requires patience and a more careful attitude to the existing expenses, but it will save you from the need to borrow money for holidays and a significant overpayment in the event of a loan. The ideal way to accumulate money is to place it on a bank deposit. You should choose a deposit in the bank taking into account the following parameters:
- The term of the deposit is 12 months. Vacation usually happens twice a year, so one deposit can be used for two trips at once, provided that you resist the urge to spend all the money in one go.
- With replenishment. To put the entire amount on the account at once is an unbearable task for many, and a deposit with the possibility of replenishment will allow you to regularly make payments in the amount of 10-15% of salary and gradually accumulate the required amount.
- With partial removal. Usually, a minimum balance is provided for bank deposits. If we take into account that there may be several trips during the term of the deposit, then cashing out funds from a deposit that provides for a partial withdrawal will save the accumulated interest.
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With monthly interest capitalization. Quite simply, it is interest accrued on interest. If you have not withdrawn the accumulated amount at the end of the month, then they are credited to the deposit account and in the current period interest will be charged on a larger amount.
- In the currency in which you will spend your money on the trip. This will allow you not to lose part of your funds in the event of fluctuations in the exchange rate, in particular, when it appreciates against the ruble. If you plan to have a rest in Europe, then you should open a deposit in euros, if in other countries - in dollars, if on the territory of the Russian Federation - then, accordingly, in rubles. If you have not yet chosen a place where you would like to spend your next vacation, then it is best to save money on a multicurrency account or on several deposits opened in different currencies.
How much money do you need for vacation
There is never a lot of vacation, as well as expenses associated with them, however, for an annual vacation (28 calendar days), it is recommended to keep within no more than two monthly family income. So, if you get 30,000 rubles a month, then you can spend no more than 60,000 rubles on vacation. Such a calculation allows you to save a comfortable amount for the family budget on a monthly basis - 10-15% of income.
Accumulating money is only half the battle; you still need to learn how to correctly manage the funds that have been saved for the year patiently. Of course, you can spend as much on vacation as you like, but with a limited budget, this statement loses its relevance. It is better to divide the amount pledged for vacation in advance by the main items of expenditure:
- excursions;
- shopping;
- cafes, bars, restaurants;
- hotel;
- tickets;
- other expenses.
Depending on the purpose of your vacation (beach vacation, excursions, shopping, etc.), the distribution of funds by items will be different, but the general logic will remain:
- about 30-40% will be needed for the main purpose of the trip;
- about the same (30-40%) will be spent on tickets and hotel accommodation;
- about 20% of the "holiday budget" will be needed for food;
- no more than 5-10% should be left for other expenses.
Thus, having planned the family budget in advance, you can not only save up on your own for a vacation, but also successfully control your spending on the trip.
Vacation: cash or card
Taking cash with you on a trip is inconvenient for several reasons. First, it must be declared when traveling abroad if it exceeds a certain amount. Secondly, there is a possibility that money could be stolen. Thirdly, there may be problems with currency exchange if the country where you go to rest does not use the dollar and the euro. And most importantly, if you only take cash with you, then in the event of a shortage of money, a completely logical question arises - "where else can I get it?"
There are no such problems with a bank card. In case of theft or loss of the card, you can block it and contact the issuing bank with a request for an urgent replacement of the plastic. There is no need to look for exchange offices, as the card account provides for automatic conversion. If your card has a credit limit with a grace period, then the issue of lack of funds will not bother you during your vacation. In addition, the funds deposited on the card do not need to be declared.
True, the use of a bank card also has its drawbacks: plastic deprives the owner of the opportunity to hold the money in his hands and understand how much of it is left, which in turn can lead to a loss of control over the spending being made.
Ideally, it is desirable to use a combined option: cash and bank card. The ratio of funds must be determined based on what is more convenient for you to use and makes it easier to control the expenditure of available funds. It is also necessary to take into account the peculiarities of the country where you are resting: if the banking system in it is not too developed, then there is a risk that your card will be useless, so it is better to take more cash with you. If you are going on vacation to a developed country, then most of the expenses are better spent using a bank card.
