3+1 pénzügyi tipp, hogy az álomnyaralás ne váljon rémálommá

3 + 1 financial tips so your dream vacation doesn’t turn into a nightmare

07/01/2022 05:00

With the arrival of summer, it is also the time for vacation, as everyone tries to relax as much as possible after the hard work that has been done throughout the year. Based on this year’s representative research data by one of the leading insurance companies, just over half of the Hungarian population is planning a vacation abroad, which, however, requires careful consideration. A well-chosen dream vacation abroad can quickly turn into a nightmare if you do not pay enough attention to financial planning. It is important for Provident Pénzügyi Zrt. Providing assistance in conscious planning of financial matters, and thus in rationalizing vacation expenditures, so I have combined 3 + 1 tips to ensure that financial matters cannot interfere with pure relaxation.

1. It is necessary to create a security emergency reserve

In order to avoid unpleasant situations during your vacation abroad, it is not worth spending the entire budget on accommodation and programs, since an unforeseen situation can arise at any time when you have to delve into your pocket. In such cases, it is good that you do not have to do it at the expense of the daily life budget, but instead have a reserve of gold that you can draw on in case of dire need. A really safe solution is to allocate about 20 percent of the total budget to the security reserve.

2. Cash vs. Credit card

It may happen that outside the member states of the European Union, the bank card cannot be used for small purchases, or only for an additional cost. That is why it is useful to familiarize yourself with the practice in the destination country to avoid any unpleasant surprises. To be on the safe side, it’s a good idea to check your bank card’s expiration date before you travel, and be prepared for the possibility that you may change limits during your vacation – this can be done with a few clicks in the online banking services of many banks. Make sure to write down the phone number where we can deal with blocking the card in case of loss.

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The advantage and also the disadvantage of planning to pay with foreign exchange is that it allows you to stretch out as long as our blanket is ready. Of course, you can also exchange money locally if you really need to, but exchange rates at holiday locations are usually higher than in Hungary. It is also worth taking some cash with you on the trip if a bank card is the preferred method of payment, so that you do not become insolvent if you lose it. It is advisable to order exchanged cash for this purpose in smaller denominations, and keep it in several separate pockets or wallets, so that if anything happens, there is always an emergency reserve.

3. It is recommended to know the exchange rates before exchanging money

Currency exchange in itself is a task that is worth getting information about in advance, as you can save a lot on this matter also with adequate care. It is a general practice for currency to be charged at a higher rate in banks as compared to money changers. When paying by foreign bank card, if the terminal offers payment in HUF or in a foreign currency, if we choose to pay in HUF, then we will know exactly how much will be debited from our account, but if we choose the latter, then at the subsequent exchange rate unknown at the time of purchase will be made Transfer the purchase amount and deduct it from the account. It is advisable to travel to exotic countries – the currency of which is difficult to obtain – in dollars or euros, as they are easy to exchange on the spot.

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+1. It is worth getting travel insurance even if it seems like an unnecessary expense

The money to be spent on travel insurance may seem like an unnecessary waste of money, but minor or major injuries and accidents can happen at any time, and in these cases the cost of insurance actually pales in comparison to healthcare costs abroad. Countries. However, it is worthwhile to inquire carefully about the rates of insurance companies, as there are significant differences here as well.

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