How to save for holidays without taking a loan?
Certainly, each of us is thinking once in a while about how to put aside the money spent on dream holidays, and at the same time not to refer to the support, which in this respect turns out to be a cash loan. If we put money aside periodically and conscientiously, we can see that this is not a difficult task at all. The financial market is also of help to us, as we can get acquainted with a wide range of savings products through it.
Among other things, bank accounts, deposits and investment funds deserve this name, and we must consider, above all, what is best for us. Statistics confirm that we are not at all willing to make regular savings. Of course, the responsibility for this lies largely with the low interest rates offered by national financial institutions. There is no doubt, however, that it is better to save money regularly than to search intensively for the necessary amount of money when the black hour appears.
It is estimated that the average amount spent on holidays oscillates around 4 thousand zlotys. So if you are planning your holiday a year in advance, you should save 335 zlotys a month for it. If we decide to use a savings account, after twelve months we will have PLN 4047.75 (interest rate - 1.5%), which will give us a profit of PLN 28. Of course, one cannot disagree with the fact that the component interest rate does not look impressive, but we are dealing with both short term and low interest rates. A lot depends on the postponement of what amount we care the most about, although it is not without significance how long our investment is to be spread. Each of us has different needs and possibilities to put aside free funds, but if you plan to systematically and put aside a certain amount of money once a month, you can use both the savings account and the foamy market fund. It turns out that it is not worth thinking about a bank deposit, unless it is opened only for a month.
Today, customers are increasingly opting for a money market fund - safe, short-term securities such as commercial papers, treasury bills and bonds. They are referred to as an ideal alternative to both bank deposits and savings accounts. A person who wants to use a money market fund does not have to worry about complex formalities, and it is also important that the fund gives us more money than a savings account thanks to its greater profit potential. However, when making the final decision, it is important to remember that both the fund and the savings account are flexible products, so both deposits and withdrawals are made when we want to. This helps to change the client's plans.