Summer is coming and with it the summer vacation season. It is a time of year particularly awaited by households for departures and stays in order to recharge their batteries. However, vacations have a significant cost that can weigh heavily on the household budget.
To avoid this, it is essential to prepare these exceptional back-to-school expenses beforehand, otherwise beware of unpleasant surprises when returning from leave . Because the start of the school year is also a pivotal period for the French wallet .
The expenses incurred are in addition to those for the summer. We deliver the keys to you to better anticipate the expenses of the new school year.
A family budget to anticipate exceptional back-to-school expenses
Without a dashboard of household income and expenses, it is impossible to ensure the sustainability of household finances. Taking the time to establish a budget is essential when it comes to anticipating exceptional household expenses. Fixed expenses must be identified with precision.
These include, among other things, loan charges, energy costs (Electricity, Water, Gas, etc.), residential rent not to mention tax charges. For other budget items, an average should be determined. Once the budget is completed, the rest of the family will then appear.
The establishment of programmed savings from the latter will then make it possible to constitute a cash envelope for the household . It is thanks to this nest egg, that it is possible to finance exceptional expenses .
Suspension or postponement of maturities: borrowing options to use
All too often borrowers are unaware of the possibilities offered by creditors. Most personal loans allow debtors to defer monthly loan payments due for a few months (up to six months for some types of consumer loans). You just have to refer to the loan offer in order to define what your rights are.
Deferred maturities will extend the amortization period . These options are particularly useful when you have not sufficiently anticipated the preparation of the holidays and the return to school . It is a spare wheel to use in an emergency but in small doses. Since credit maturities that are postponed generate an extension of the credit term.
These options also prove to be valuable at any other time of the year in the event of contingencies requiring exceptional costs.
The repurchase of credits for a better savings capacity
To be able to better prepare for pivotal financial periods such as summer vacation or back to school, loan redemption is ideal . It is a simple procedure accessible to all to restructure the family budget . Many households are drowned in the charges of loans!
In this situation, it is very complicated to anticipate future expenses. It is then impossible to save each month in order to build up cash. Thanks to the consolidation of loans , the household has the opportunity to reduce its borrowing charge for a new budgetary breath . Nothing more saving for households badly-indebted to more than 33% for whom life has become synonymous with financial survival.
In short, there is no shortage of solutions to effectively apprehend summer expenses and those following back to school. You still have to do it in advance . The secret of top domestic finances: establish a feasible budget that takes into account programmed savings.