Holiday pay in times of corona: you can do this with it

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Holiday pay is a nice extra, which is usually used to pay for a nice trip, but for now holidays outside the Netherlands are still uncertain. What is the best thing to do with your money? Experts say this.

Most employees receive their vacation pay around May, about eight percent of gross wages. Imagine you are receiving holiday pay, but you do not plan to go on holiday for the time being, then it is important that you do not leave it on a current account, warns Karin Radstaak, spokesperson for the Nibud. “Otherwise, you risk dealing with everyday matters, such as groceries. That would be a waste. Therefore, transfer it to another account. “In addition, consider what you want to do with it. “Giving the money a goal makes it easier to stick to it,” said ING spokesman Karin van der Pol.

Also read: A substantial wage sacrifice or no holiday pay, “some companies are not ashamed of anything”

Vacation

Of course you can still go on holiday with your extra money. That is what Ap Dijksterhuis, professor of psychology at Radboud University and also known as the ‘happiness professor’, advises. ,, I would wait a little longer. Most countries in Southern Europe really want to make money, so we can probably go abroad again this summer. If that doesn’t work, try to get a holiday feeling in your own country. Spend your money on a city trip, or go cycling in the province for a week. In short: spend your money on experiences with others. That’s what makes us happiest, not the stuff or clothes. We’ve all had enough of that. ”

Save

Another option is saving. Something quite a few people choose this year. No fewer than four in ten want to put their holiday money in a savings account, according to research by VPNdiensten.nl. Although “wanting something” is different from doing it, Radstaak nuances. “Saving turns out to be quite difficult in practice. It can be tempting to spend the money. “” Dijksterhuis says we don’t have to suddenly save. Especially not, because we have to help the economy recover. ,, That will not work if you sit on your money now. You should actually spend your holiday pay. Except, of course, if you expect to lose your job. ”

For those who expect to lose their job, the advice is to save, emphasizes Radstaak of Nibud. “Imagine you are in a situation where you are not sure whether your income will remain, or if you work in an industry that is likely to be hit, put your money away. I just don’t think the little holiday pay will be enough to cover long-term unemployment. “That’s why the advice is always to have a buffer. Nibud advises to put away about 10 percent of your wages every month. “That sounds like a lot and it is. So see what you can miss, for example your holiday allowance. ”

Savings are not favorable at the moment, due to low interest rates, says Esther Marcus, spokesperson for ABN Amro. “But it is still good for anyone who has too little a buffer for unexpected expenses.” Moreover, you can invest. That is possible from 50 euros, so also with your holiday allowance, says Marcus. “Investing can yield more return than saving, but it is not without risks. You can also lose part of your bet. ”

House

Finally, paying off a mortgage is an option to reduce your monthly payments. Or paying off any (urgent) debts. All experts believe that the latter has absolute priority. Previous studies by Nibud show that people often use their holiday pay – in addition to spending vacation or on the bank – to pay off debts. Radstaak can only applaud that. She thinks it is sensible, also for your mood. “Then you don’t go on vacation. The feeling of being rid of it can be just as soothing. ”

Another option is to invest the holiday allowance in your home. “Use it to renovate, renovate or make your home more sustainable. Suppose you have wanted to do something about your house for a long time and you do not go on holiday, then that is a nice goal. This is how you create a “holiday in-house”. I think you will benefit a lot from that. Right now. ”

Corona

Holiday pay is a nice extra, but whether all salaried people will get it this year is still the question. More than half a million employees say that the employer does not want to pay them holiday pay in connection with the corona crisis. An even larger group does not yet know whether they will receive holiday pay this month.



Source link
https://www.limburger.nl/cnt/dmf20200523_00161407/vakantiegeld-in-tijden-van-corona-dit-kun-je-ermee-doen

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