A financial expert speaks of gas prediction apps and the joys of the all inclusive travel package
, Plan your Acapulco getaway with care this year. Photo: NOTIMEX
22 of March 2016 17:58:26
To avoid going into debt that puts pressure on family finances during these Holy Week vacations, it’s essential to make a spending plan and stick to the budget, said financial expert, Principal Financial Group’s Alan Gómez.To enjoy your vacations without fear of debt, he gave five tips:- Make your plans in advance- Make a budget- Consider all-inclusive travel packages- Consider how you will finance your trip- Avoid spending savings you did not dogmark for vacation spendingThe expert explained: “it’s possible that between the hustle and bustle of daily life and work you didn’t have time to adequately plan your vacations. Nonetheless, it’s advisable that you not make hasty decisions.”[caption id="attachment_8417" align="alignleft" width="300"] Dune buggies: in the budget? With careful financial planning, you'll know for sure if you can join these extreme sports enthusiasts in Hermosillo. Photo: Notimex[/caption]“Keep everything in mind that could wind up as an expense, from the moment you leave your house to the moment you return: transportation, from arriving at your destination to how you will get around once you’re there, food, room and board, entry costs to parks or amusement centers and souvenirs,” he said.He made a reminder about the new smart phone apps which make it possible to calculate the cost of gasoline and tolls for highway trips. Using them can help you decide whether it is cheaper to make a trip by car or using other modes of transportation.Travel package search engines are also a big help when it comes to making budget decisions.Lastly, remember that outside the country it’s possible you will have additional charges on your mobile telephone and data service plans, which represent another cost you should keep in mind while planning.Gómez thinks that all inclusive packages are a good option for Holy Week, which depending on the provider can include room and board, meals, and round trip transportation from airports or bus stations.[caption id="attachment_8420" align="alignright" width="300"] In Progreso, Yucatán, sun and fun awaits tourists. Those who plan their vacation budgets ahead may stand a better chance of extending their recreational glow after Holy Week. Photo: Notimex[/caption]There are also local travel packages available that include local transportation and access to attractions, parks and entertainment centers.If your budget isn’t lining up with all the costs you have planned during the next week, it’s possible that you could look into credit options, like a bank card or a loan through some kind of financial institution.If that’s the case, he recommended that you learn how much you will have to pay back, and when, plus the interest rate.In the case of credit cards, the National Commission for the Protection and Defense of Financial Services Users (Condusef) has tools available to the public for learning total annual costs and commissions on your cards.Finally, the director suggested that families avoid spending savings that were not intended for Holy Week vacations, even though the thought can be tempting. “If that was not the point of a certain savings, just don’t use it, especially if it’s from your retirement fund or another long term investment.”Plans to replace money in these funds can often be just that, and being honest with ourselves can avoid affected your financial health in the short and long term, Gómez concluded.