Being at home for a while now and wanting to travel, we might end up making impulsive decisions. These impulsive decisions are never a solution and in fact can have a negative long-term impact. So, it’s important we avoid making money mistakes in following ways:
1. Making sure we have an emergency fund
The coronavirus pandemic has led to income uncertainties. During this time, its important for us to have an emergency fund. With income reduction, unexpected job loss or any medical emergency, its important that we always have this emergency fund
2. Know before you go
Having done your research before going, makes you aware of all the available possibilities and helps you plan your trip in a much budget-friendly way. So, it’s important for us to do an extensive research and know before we go.
3. Making a strict travel budget
Only having emergency fund won’t suffice if we don’t keep a strict check on our expenses during our travels (or otherwise). So, make a budget after doing the research and prioritize your spends.