According to a report published by the American Resort Development Association (ARDA), timeshare owners across the U.S.A. are more likely to use all of their paid time off from work since their vacations are pre-paid. But owning a timeshare is just one of the many reasons you should fully use your vacation time and ditch the office’s fluorescent lights for the sun’s intoxicating rays.
Going on vacation can reduce stress, increase your brain power, and make you an all-around happier person. According to an Oxford Economics survey of 971 employees, 4 in 10 U.S. workers finished 2013 with unused paid time off – leaving an average of 3.2 days behind.
Chances are, if you own a timeshare, you’re not going to let those unused vacation days go to waste.Timeshare owners have the right idea by using their vacation time up, since working nonstop without taking a breather just adds to your stress levels and negatively affects your productivity.
However, sometimes taking a vacation, even when you own a timeshare, might not be within your budget after factoring in flight, entertainment, and dining expenses.This means planning is absolutely critical. Some great steps to take to ensure you’re able to enjoy all the benefits of your timeshare are:
- Opening a dedicated savings account to stash away that extra cash you’ll need to make the best of your vacation time. This will help cover expenses like transportation to your timeshare, dining, and other unexpected events.
- Budgeting is also a handy way of storing away some extra savings. This can also turn into improved lifestyle changes like building that nest egg you’ve always dreamt about.
- Don’t underestimate the power of the change jar or piggy bank. I once had a change jar that sat on my desk for an entire year and every day when I would come home from work, I would take the change from my pockets and put it in the jar. By the end of the year, I went to the bank and amassed $583.26. Talk about pennies from heaven!
If what you have read in this article so far hasn’t encouraged you to take more paid time off, then here are some enlightening facts courtesy of the The U.S. Bureau of Labor Statistics and the No-Vacation Nation study by CEPR for the private sector:
- On average, U.S. workers receive about 10 vacation days after 1 year of service. (Workers in Europe are legally guaranteed at least 20 vacation days).
- About 77% of workers receive paid holidays and vacation, including paid time off (i.e. sick time). So that means almost 1 in 4 American workers do not get paid vacations during the year.
- Vacation time can take a while to accrue at most companies. On average, most U.S. workers will have to work for 5 years to go from 10 days of vacation to 15 days. And if you like to change jobs often, you’re always back at the beginning of accruing vacation time, usually starting off at 10 days again.
- Since there has not been much legislation passed in defense of paid holidays and vacation time in the workplace for 20 years, there’s not much incentive to pass up the little time you do have for paid time off.
- Expedia conducted their own study on U.S. workers and vacation time used and found that 500 million vacation days may have gone unused by workers in America.
And always remember: unless you get paid for your unused time off at the end of the year, use it or lose it!