So, you just got back from vacation and you had the time of your life. Your motto was “go big or go home.” Now you’re wondering, ‘what were you thinking?’
If you’d planned ahead and adopted better spending habits, you could enjoy your vacation without worrying about money or going into debt on vacation.
But it’s okay.
We’ve all been there—having so much fun we threw our budget right out the window. Snorkeling, hot air ballooning, and horseback riding are adventures you’ll never forget. You had a good time and now it’s time to get back to work.
If you’ve splurged and depleted your bank account after going on vacation, we have a few effective ways to get your finances back on track.
Assess the Damages
Don’t be too hard on yourself. Simply assess the damages and make a plan. Take a look at your credit score after the vacation as well as your bank account, bills, and past-due bills.
You can sign up for some apps or Credit Karma for free.
Credit Karma helps you monitor your credit score with all the big agencies such as Transunion and Equifax. You’ll also get lots of financial tools for planning and budgeting.
Create a Budget
It may not be one of the most fun activities you can do—especially after returning from your holiday—however, creating a new budget and sticking to it means you’ll be able to go on another adventure. That’s why you should check out this free budget worksheet from NerdWallet. It’s a 50-30-20 plan that will help you fix your finances and save money.
Implement a Savings Plan
Now is an excellent time to start. Credit Karma has a savings account that offers higher interest than many savings accounts at 1.80 percent. Put your money in there and watch it grow.
Next time you go on vacation, you can use your savings and put those credit cards away.
Get a Side Gig
Make some extra cash to get your finances back in order. Today, you can turn your hobbies into money by taking on a side gig. Among the many opportunities are dog walkers with Rover, delivery driver, and virtual assistant. Or you could become an audio and video transcriber if you’re a fast typist.
You can also start a blog following these basic steps. Focus on writing great content about a subject that you know well. And who knows, once you get started it could turn into a whole lot more than a part-time gig.
You Still Need to Have Fun
While you work to get caught up, make sure to still leave room for fun. This isn’t a punishment, after all. You’re simply learning how to fix your finances.
There are plenty of ways to have a good time while you’re getting caught up. For one, you can make a map of where you’ve been and a future map of where you’ll go, once you’re back on track.
Fix Your Finances
Now that you have some ideas about how to fix your finances and create a budget, you probably feel a little better. If you want more ideas on blogging, going on vacation for less, and health and fitness—then check out my blog. Feel free to leave a comment too!