How Not to Go Broke on Vacation
Expert Tips
“When planning a vacation, you need to calculate possible expenses based on the prices for flights, accommodation, food, insurance, and so on in the country or city in Russia where you plan to go. After the preliminary calculation, add another 30% — this will be your vacation budget,” advises the expert. He also recommends setting aside a separate budget for spontaneous expenses.
“You can indulge in spontaneous spending as much as you want, but within the allocated budget for it. Large expenses on vacation, such as buying expensive clothes or jewelry, are better made with separate money outside the vacation budget,” emphasized S. Makarov. At the same time, the interviewee advised against spending on souvenirs:
“There is a great temptation to splurge and buy souvenirs and excursions left and right. It’s better not to do this, as when you return home, you may regret the money wasted on yet another trinket that will gather dust in the closet until the next move, and then will happily end up in the landfill,” he said.
When should you start saving money for a vacation? Considering the cost of the trip and based on financial capabilities, six to nine months in advance. “That is, if your trip will cost 30,000 rubles, you can save 6,000 rubles a month for six months. The second option is to gradually buy tickets and book accommodation so that you don’t have to purchase everything at the last moment,” clarified Sergey Makarov. He does not recommend taking a loan for a vacation or using credit cards so that upon returning, you don’t have to pay off debts and “after returning from vacation, you don’t wait for your salary like a manna from heaven and borrow money from colleagues or, which is very risky for your personal budget, turn to microfinance organizations.”
Additionally, when planning a trip abroad, it is important to familiarize yourself with the service conditions and rates of cards that must be issued under international payment systems.
“Pay attention to the fees for cash withdrawals through ATMs, find out if there are geographical usage restrictions on the cards, and study the exchange rates that will apply. It’s better to avoid conversion altogether and go on an overseas trip with a currency card,” advises the expert. It’s also wise to carry some cash as a backup in case of loss or card blocking, and currency should be purchased gradually and in advance so that potential fluctuations in the exchange rate do not become an unpleasant surprise before the vacation.
