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Avoid Neglecting Summer Financial Saving Ideas

on January 21 at 07:02 PM
The arrival of vacations should not be a parenthesis in the planning of our finances. The Department of Financial Education of EFPA Spain has prepared a document that collects some keys to avoid spending more than the account during the summer period and to face the return to work without financial surprises.

Create A Budget For Vacations According To Your Economic Capacity And Stick To It

Planning is one of the keys to enjoying vacations without worries. Making a realistic budget, adjusted to our economic capacity, can save us many headaches when facing summer costs.

Avoid Borrowing For Vacations, Especially With Fast Credits

It is essential to draw up a savings plan several months in advance, to avoid the expenses derived from the holidays do not neglect our private accounts. Avoid fast credits that carry high costs.

Be Careful With Credit Cards, And Avoid Using Them To Pay In Installments

Avoid, to the extent possible, excessive use of credit cards to defer different payments. If the number of charges is very high, it may entail the number of high commissions, as interest, which will increase our expenses very abruptly. In case you hire any, check the conditions well. On the other hand, the discount cards promoted by both banks and companies to retain their customers through discounts can be beneficial to optimize our summer expenses. A good example is a fuel, a cost that rises during these months. But, in any case, it is essential to read the conditions and the fine print of these products.

If You Travel To A Country With Another Currency, Find Out About The Conditions Of The Currency Exchange: Commissions And Exchange Rate. Prioritize Payment Via Card To Refund On Tickets, Which Have Worse Change

Before traveling outside of Spain, check the cash withdrawal conditions with your bank. If you go outside the eurozone, consider the currency exchange, observe its fluctuations and choose the best time to change. If you are one of those who prefer to pay for everything by card, you should keep in mind that these transactions may involve associated costs that must be considered in the travel budget. However, it may be a better alternative to cash payment, which can lead to a loss of purchasing power because they tend to have worse change.

Use Comparators To Get Better Prices On Your Transport And Stays

Although it may be a tedious activity, it is worth devoting a little effort to the comparison of prices in agencies, hotels, and transport, always paying particular attention to the conditions hidden in the fine print. You have to be attentive to the schedules, cancellation conditions, etc. It is often useful to read the comments and opinions of other users who have used these services.

If A Financial Or Insurance Product Expires In Summer, Leave It Resolved Before You Go

After the holidays, the 'hook' products are multiplied whose purpose is to help in the absence of cash. There are numerous options for consumer loans or other sources of financing. In the case of resorting to them, it is advisable to perform a comparison and information search exercise. Similarly, check the conditions of your financial products; in fact, they are subject to some change in the terms. Given all these situations, it is best to leave it solved before the holidays. Professional advice will be your best ally to clear doubts.

Beware Of Compulsive Shopping, Or You'll Get Home With Expensive Souvenirs That You Won't Know Where To Put

Beyond the fixed expenses in items such as transport, accommodation or food, include in your budget a small daily amount to other costs. Summer can be an excellent time to pamper yourself, but remember a basic rule: no out-of-budget spending.

On The Way Back, Review Your Financial Planning And Preparing For The End Of The Year With Your Certified Financial Advisor

Coinciding with the return to our daily routine, it is an excellent time to go to your trusted entity and request an appointment with a qualified financial advisor who can answer all your questions about the most appropriate financial products, loans, mortgages, retirement savings.

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