The algorithm of actions for quick savings for vacation in an interview with radio Sputnik was given by Olga Daineko, an expert at the Center for Financial Literacy of the NIFI of the Ministry of Finance of Russia. She advised the Russians in the first place to abandon the “harmful” spending.
She advised to optimize the budget, eliminating small, but “regular and harmful” spending, to find ways to save money reasonably. According to her, honest adherence to the given settings will help to achieve the goal on time.
First of all, you need to calculate the amount needed for the trip, decide on the period for which it needs to be accumulated, and understand how much money you need to save every month, the specialist said. She recommended to look at things realistically and not to strive to accumulate an amount equal to the available income in a month: the desire to have a good rest should not interfere with life.
Daineko recalled that a certain amount of money may be required before vacation dates: to buy tickets, pay for hotels and excursions. She also advised not to forget that some money would be needed upon returning from vacation: since vacation pay is paid in advance, the amount of the next salary will be much more modest.
Those who have loans should also take them into account: it is better to postpone the amount of the payment following the vacation in advance. “And most importantly: no matter how much you want to relax“ humanly ”, you don’t need to take a new loan for vacation. This will increase monthly payments and prevent you from quickly saving up for the next vacation, ”the financial literacy expert emphasized.
Source: Rosbalt
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