4 Ways to Go Broke Over a Single Summer Vacation
Admit it, for some of us, summer is a time for debauchery. What with all the feasts, family reunions, and barkada getaways, it is almost inevitable to blow your bank account. While most of us consider finding cheap flights and tour packages, some of us get too caught up in all the excitement that we forget to budget our finances responsibly.
PawnHero lists some things you can do if you wish to swim in debts by the end of the season.
1. Go on an unplanned getaway
You know what they say about barkada getaways—kapag biglaan, mas natutuloy. This is, to be fair, sort of true. I’m sure we’ve all been involved in an intense getaway planning session, only to find out when it’s almost go time that it’s not pushing through. For moments as such, most barkadas turn to biglaang lakad instead.
Unplanned getaways can be really fun and exciting, but it can also get very stressful and costly, especially if it’s a long trip. By just grabbing your Louis Vuitton luggage to go on a trip without booking a hotel room or planning your destination beforehand, you might end up shelling out more money than you intend to.
2. Choose the priciest flight
Rich kids know this too well: if you’re going on a tropical holiday, go fly first class or via private jet. BUT if you’re no trust fund kid or businessman, flying first class is guaranteed to burn a hole in your pocket.
When traveling, it pays to look out for promos offered by local airlines. If you’re going to an island like Boracay, you might want to try riding a ro-ro ship instead of a plane. Ro-ro stands for roll on, roll out. It is thus called because of the way your bus rolls into a ferry to get you from one island to another and rolls out to travel by land and get you to your destination. Companies like 2GO offer a comfortable travel experience by ro-ro, but for a cheaper price.
3. Visit the most high-end destination
Balesin, Amanpulo, and all those luxurious resorts have good reputation for a reason. However, entry to such lavish resorts almost always entails instant bankruptcy. If you are strapped for cash, borrowing money to push for such pricey destination isn’t such a wise idea. There are many beautiful, unspoiled beaches that you may visit instead. You may try Lukang Beach in Quezon, Magalawa Island in Zambales, Capones Island in Zambales, Coral View Resort in Bataan, and Mactan Island in Cebu, among many beautiful beaches.
4. Splurge on accommodations
Dipping in a hot tub filled with rose petals while sipping wine seems like a relaxing thing to do, but it means booking a pricey hotel room. A five-star hotel in a prime destination can cost from almost PHP 5,000 to 40,000 or more per day. Say, you’re staying in one of those less-pricey 5-star hotels for three days, you’re likely to shell out 15,000 pesos for a 3-night stay. That’s for your accommodation alone.
If you don’t want to spend that much cash for your accommodation, try scouring local deal websites for hotels that offer discounts. If you’re not staying for too long, you might want to bring your own tent instead. After all, one of the fine points of traveling is to connect with nature, and what better way to find beauty in your surroundings than to spend a night sleeping outdoors?
Don’t get us wrong. If you wish to spend on an all-out vacation, there’s nothing wrong with that. After all, you work hard for your money. You deserve to reward yourself every now and then. What’s wrong, however, is to spend money you do not have. If you need to max out your credit card just so you can tag along your barkada’s Misibis Bay getaway, you are bound to deeply regret your decision once the bills start coming in.
Prevent yourself from falling into a financial pitfall by carefully planning your vacation. You’d want to save up a few months prior to your scheduled trip, and then stick to your budget. Sure, bringing home tons of strawberries from your Baguio trip seems tempting but if you purchase more than what you need, they might just end up rotting inside your fridge, thus wasting cash. Try to look for cheap flights and budget hotels, too.
Instead of maxing out your credit card, try raising extra funds instead. Rummage through your closet for things you don’t use anymore and pawn them. PawnHero accepts almost anything, from your Louis Vuitton purse to loose gemstones, and jewelry to appliances, gadgets, and more. We give the highest possible appraisal, and our fixed monthly interest rate is 50% less than those other brick-and-mortar pawnshops. Pawn via the PawnHero App today!