Money Talks # 60 ???? - Going for a vacation

Today going for a vacation with family or solo is a dream for many.?

There are people who plan well and take vacation and same time, there are people who keep procrastinating it or thinking that they are not ready for it.?

Vacation is these days are very much needed and affordable. Only, we should be ready for it.? Vacation creates memories and experiences; family vacation creates a special family bond. I remember my short trip to Lonavala from Mumbai with my 4-year daughter in 2015, we climbed hills and did small treks. That created a new bond between us.?

So how can we plan a vacation :

1. Fix a budget – fix a yearly budget for a vacation, travel, stay and other entertainment

2. Stay saving and investing from your income – Keep a portion of your income for vacation fund via SIP route, use this fund only for vacation.?

3. Involve family members – Inform family members about vacation plan, let them fix the place and budget. This will help them to contribute reduce monthly expenses to use more for vacation fund

4. Make use of credit card points – Credit cards offers points to accumulate for vouchers in hotels and travel. If you are a credit card user, this can be an option.?

5. Create a corpus – It is a good plan to create a corpus and generate returns to meet yearly trip money from this corpus. If you can create a 25 Lakhs fund, 10 % return is 2.5 Lakhs. That is good enough for a short vacation.?

Vacation is an exploring new place and gives break from routine work. We deserve atleast one vacation per annum. A dream and a plan with a goal-based investing can enjoy a vacation for you easily.?

Start a SIP for your next vacation !?