Tips on how to use money economically during long holidays

Long holidays during the festive season are the time that we can travel, take a rest, and buy gifts before getting back to work. Did you know that our spending during the festive season rises so much higher which may affect our financial situation? Today, ACU PAY would like to recommend 5 tips to plan our finances during the long holiday.

1. Plan long holiday trip in advance

The way that will help us not use money extravagantly during a long holiday is planning. If we have to travel during the long holiday, we need to find information and book in advance because the price of accommodation, flight, and car rental will be cheaper than the walk-in price. Planning in advance allows us to have accommodation and flights as we want and no need to be afraid or worry about missing the opportunity to travel.

If we have to stay for several days, try renting houses or apartments instead of a room in hotels. We may look for accommodation with facilities such as a kitchen to help us save up more on food expenses. 

In addition, in case we need to travel by plane, we need to pack our bags with light items and not be overweight to avoid additional baggage charges. Snacks and reusable water bottles may be brought with us to reduce the miscellaneous cost.

Finally, spending should be prioritized. Choose the activities and experiences that are right for us. May look for discounts or special packages, or if you want to save money, you may visit natural or free of admission fee places. Sometimes the best experience doesn’t cost you a baht.

2.Set up a budget, plan the expenses

Setting up a budget for our trip will determine how much we should spend each day and what we should spend, ensuring that the expenses during holidays will not exceed the budget we have set and not bother other money in our pocket as well.

After planning the destination that we would like to visit, we need to set expenses budgets for other things such as travel expenses, accommodation expenses, and souvenir expenses. Let’s set the amount of money in each category so that after we spend it each day, we can figure out how much is left and see if we’re spending it according to the budget.

Another expense that we may not think of is food expenses. Eating without planning may make the expenses out of control, resulting in a limit on other expenses. We may plan on cooking something at the next meal which might save us more money than eating out. Cooking by ourselves allows us to eat fresh food, save us money, and eat fresh food which is good for our health.

3. Pay in installments for some expenses, more economical

Traveling during the long holiday season may not always require a lump sum payment. Another way to save money, not pay hard in a month, is by ‘paying in installments’, such as booking accommodations, booking flights, or buying other gifts. By planning ahead, we can buy or book at an affordable price. To pay in installments gives us the strength to save more money in other parts without bearing huge expenses at once.

This tip is perfect for salarymen who have limited expenses in each month. Paying in installments will help reduce expenses several times. The better trip planning, the more money we can save up. However, at each trip, we should have reserve money to pay off the outstanding debt, so you won’t have to deduct your expenses in the next month.

4. Make good use of the privileges

Of course, if we plan our trip in advance, accommodations will often offer low-cost promotions so that we can make reservations, or maybe there’s a discount code that will save us more money. As for points we collect based on our membership cards or apps, we can exchange them as gifts or discount coupons to use at stores to buy gifts for our loved ones. However, before we use every coupon, be sure to check the details and conditions correctly or we may lose our rights.

5. Summarize incomes and expenses, and plan to use the rest of the money

After we get back from a long holiday trip, the thing that we should not forget is to summarize the incomes and expenses of our trip so we can make a pretty accurate estimate of what we spent on during that trip. Keep the slip if we use our credit cards and see how much expenses we spent so that we will know our style of spending and can control money for the next trip better. 

Moreover, we should plan to use the remaining money by calculation based on the remaining amount divided by the daily average of how many baht can be maxed out or we may plan to save more than usual and see how much you should spend each day.

Limiting the spending budget doesn’t mean we have to cut out all of our happiness, but setting this budget will give us a sustainable way to live up to our financial statements, while we spend that money happily on holidays. Let’s be happy during the long holiday together.

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