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A Guide to Wise Financial Conduct during the Great Vacation

The summer vacation arrives and with it the summer camps, trips and a variety of activities and entertainment. The days off are also a stressful and significant time for our pockets and many families lose control over spending, which can affect all months of the year.

The summer vacation is upon us and with it the high expenses expected for every family in Israel. You can test how prepared you are for the expenses of the summer vacation.
Have you prepared in advance and allocated a sum of money for the upcoming summer entertainment? Didn’t prepare in advance?
In any case, there are actions that can be taken to help get through these months with minimal costs.

Surviving the expenses of the summer vacation

It all starts and ends with precise and detailed planning.
Planning vacation activities makes it possible to match the money that can be allocated for vacation expenses with the expected costs. An organized plan and clear rules will help all family members understand what is planned and when, and which activities or purchases should be waived.

So how do you manage on a budget during the summer vacation?

In order for you to manage according to a budget during the summer vacation, all you have to do is set a budget, track expenses, check expenses against the budget, and update the activity plan if you exceed your budget.

a. Set a budget for July and a budget for August

  1. Write down the activities you intend to do during the summer months.
  2. Estimate the amount spent per activity.
  3. Summarize all of the above expenses and check if there are suitable sources of funding.
  4. Are the expenses higher than the sources of funding? Tailor your activity plan to your ability and possibilities.

Note: Keep in mind that in addition to the special expenses of the summer, some current expenses, such as water, electricity, and food, are higher during the summer months.

In. Track spending

  1. Printing the Lofreedom of Paamonim
  2. Write down the budget you budgeted in the appropriate place.
  3. Write down each day of the vacation the activities in which you actually participated and their cost. Don’t forget to include in the amount additional expenses you incurred while spending time such as: buying bottled water, popsicle, candy, clothing, gift.

Gimel. Check expenses against budget

  1. Once a week, summarize the expenses you actually paid.
  2. We examine and compare performance against the budget.
  3. Did you spend more than planned? Cancel activities, so you can stay on budget.

For tips to save on the summer vacation

You have encountered difficulty adjusting travel expenses, pocket money, shopping and entertainment, using thesetips to save on the summer vacation.
From the Caspi family, you can also learn with your children about the considerations of budget management.

Do you have teenagers at home?

Refer themto the Youth Guide to the Great Freedom in the guide >> : Tips on job searching, youth rights at work, freedom planning, and more

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