Financial consultant Frank Lennix gives advice on how to anticipate unexpected vacation expenses.
TULSA, OAKLAHOMA, UNITED STATES, October 17, 2018 /EINPresswire.com/ — Everyone enjoys going on vacation. It is a time to be carefree and fun. Vacation is the time where families can bond, create amazing memories, and grow closer. Regardless of whether it is a day trip, a week trip or longer, vacations are the much-needed break people deserve. However, along with the fun, there are also expenses.
Unfortunately, it is difficult to enjoy a vacation without spending a little bit of money. When people go on vacation, they expect that. Yet, what happens when that little bit of money turns in to more than expected? According to Frank Lennix, most vacationers have no idea how to prepare for unexpected vacation expenses. Thankfully, Lennix knows how important it is for families to have a stress-free vacation. Therefore, he his ready to explain the best ways to prepare for unexpected vacation expenses.
• Expect the Unexpected
Everyone should have a ‘rainy-day fund’. This is a set amount of money that is set aside in case of emergencies only. This amount should be added to when possible but only deducted if there is an actual emergency. That way, most worst-case scenarios will not snowball into recurring debt.
When planning a vacation, there should be a place in the budget for unexpected expenses. This money is not for emergencies, as strictly as the rainy-day fund should be. Nevertheless, a fund should be set up in case something does not go as planned. There are many reasons why this fund is essential. Additionally, if a person budgets for the expense, it is easier to manage.
• Over-Budget Everything
Giving the vacation a cushion on each of the budget items is another way to ensure there is enough money. Instead of pinching every penny when trying to figure out how much everything is going to cost, round up. Put an extra fifty to one-hundred dollars in each section of the budget, including the Unexpected fund. That way, if something does go awry, you will have the satisfaction of knowing you are okay.
• Being Financially Stable
A person does not need to be a millionaire to go on a vacation. Although, they do have to have some financial stability. Going on vacation is not going to make a financial situation any better. Therefore, if a person is struggling to get by, living paycheck to paycheck, they probably should not go on vacation. Instead, take some time off and have a staycation. This is where people and families enjoy the time off work in their own home. This saves on lodging and an irregular food budget.
Of course, everyone deserves to have a break but plan for a vacation in advance and save for it. By doing this, people will be able to enjoy their vacation, in addition to feeling like they worked toward it. This lowers stress and allows the person to immerse themselves in fun and festivities without having to worry.
To close, the experience of a vacation is something that no matter what happens, it will always be memorable. Fortunately, with these tips, Frank Lennix assures that people who follow this lead will be prepared for anything. Remember, adventure is everything on a vacation. It is an escape from everyday life. However, that adventure should not condemn vacationers to financial uncertainty when they return home.
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Source: EIN Presswire