Jakarta, Armfalcon.com – Expenses for returning to your hometown alias going home are certainly not small, even if you get a holiday allowance (THR) equivalent to a month’s salary, your finances could be in disarray because of this one activity.
Homecoming expenses are of course not just a matter of tickets and only, but there are other expenses in your hometown that can make your expenses swell. As a result, you may be forced to drain your savings because of this.
When savings are drained, the impact can be dangerous for your finances. To be aware of this, do the following things before you go home.
Calculate estimated homecoming expenses right now
Do the calculations for all your homecoming expenses later. Starting from expenses for buying tickets, fuel, to food costs and distributing holiday allowances (THR) to relatives.
To make it easier to do this, you can use a reference, namely last year’s homecoming expenses.
The benefit that you can get from calculating this estimated expense is knowing how much money you will spend later on going home.
Check your savings
After knowing how much your estimated homecoming expenses will be, the next step is to check your current assets. Current assets can be categorized as assets in the form of cash or cash equivalents.
The ideal current asset value is 15-20% of net worth (total assets – total personal debt).
Make sure that you have sufficient assets, and don’t let your total home expenses equal or even exceed the total current assets you have. If you experience this, it’s a sign that your homecoming expenses have exceeded reasonable limits.
Try as much as possible so that the total homecoming expenses do not exceed 50% of the total current assets.
Remember, you don’t have to shop for souvenirs too much
After estimating homecoming expenses and calculating current assets, you can still try to save on expenses by cutting expenses that are considered not too important.
The expenses referred to are usually in the form of shopping expenses while in their hometown, and shopping for souvenirs.
Emergency fund & travel insurance
No one knows what will happen in your hometown. Financial risks will still exist and have the potential to drain your savings.
An emergency fund must of course be available to be aware of the unexpected. Meanwhile, consider buying homecoming insurance to anticipate disasters that are very draining and come without predictions.
Several insurance companies have insurance products that can cover the burden of treatment and provide compensation if we have an accident, to guarantee compensation for personal belongings and damage to homes left behind while going home.
With this, your trip back and forth is not only economical but also financially secure.
Want to go back to hometown for Eid? This is an Anti-Boncos Homecoming Tip