Guide: How to manage my PEL Leisure Savings Plan.

At GlissEvolution, we often hear about the PEL, or Leisure Savings Plan. Here are some ways to manage it:

Infinite budget, sponsored, parental, negotiated as a couple, post-divorce, hidden budget…? We tell you everything.

Kitesurfing, winging, and wingfoil are watersports that demand a significant financial investment. A basic kitesurf setup, including a kite, a bar, a board, and a harness, can run into thousands of euros. Wing foil gear includes a wing and a board. It also has a foil.

We all want to ride the latest generation kites or wingfoil wings. But not everyone has an infinite budget to inject into their PEL. In this article, we'll list some solutions we've seen in the shop.

There are several reasons to buy quality kitesurfing or wing foil equipment from major brands.

• Performance and safety: Major brands invest heavily in research and development. This creates high-performance, safe products. Their equipment undergoes rigorous testing to ensure it meets the highest standards.
• Durability:Kite equipment from major brands lasts a long time. It uses superior materials and withstands the elements.
• Versatility: Major brands offer a wide range of products. This meets the needs of all rider levels. Whether you are a beginner or experienced, you will find the right equipment for your needs.
• Warranty: Major brands generally offer a warranty on their equipment and responsive after-sales support. This gives you the assurance that your equipment will be repaired or replaced in case of a problem.

Buying kitesurfing or wing foil equipment from major brands is a wise investment. It will allow you to enjoy your sport safely and progress quickly.

Shop anecdotes:

Beyond practical advice and tips for managing your Leisure Savings Plan (PEL) at GlissEvolution, every customer has their own story. Every visitor to the store brings with them an anecdote, an experience, or a memory related to their passion for watersports. These stories, sometimes funny, touching, or inspiring, show how diverse and dynamic the kitesurfing and wingfoiling community is. In this article, before exploring the different ways to manage your PEL, we want to share with you some remarkable anecdotes collected from our loyal customers.

• The surprise: One day, a grandmother came into GlissEvolution to buy a complete kitesurf kit for her grandson. This proves that the passion for watersports transcends generations.
• The meeting: A couple met for the first time at GlissEvolution while both were looking to buy new gear. Today, they ride together and share their passion for kitesurfing.
• The challenge: Parents challenged their children: whoever saved the most for their PEL in one year would win 50% of the budget for kitesurfing equipment. This created healthy competition and a lot of laughs.
• The discovery: A customer recounted how he discovered kitesurfing during a trip abroad with a GlissEvolution regular. Fascinated and won over, he returned to France and immediately went to GlissEvolution to get equipped.
• The tradition: You often come to the GlissEvolution store to share your year's adventures with the store staff, and we love it!
• The unexpected gift: For her birthday, a customer received a GlissEvolution gift voucher from her colleagues. She was touched and surprised because she had never mentioned her passion for kitesurfing at the office. Yes, we know you well, and the Guérande peninsula isn't that big.
• The unexpected advice: One day, a customer came into GlissEvolution, determined to buy the most expensive kite model. After talking with him, we recommended a cheaper but more suitable model. The customer left satisfied and became a loyal customer, appreciating the salesperson's honesty and professionalism. 
• The impromptu test: One afternoon, a young man came into the store to buy a foil but was unsure about the size. Instead of just giving him advice, a salesperson took him to the nearby beach to let him test his wing pack. It's easier to choose under those conditions.

Each anecdote shared here highlights our customers' passion and determination for watersports. It also shows their love for watersports. At GlissEvolution, we are more than just a store; we are witnesses to the dreams and challenges of our community, and its adventures. These stories remind us of the importance of perseverance, mutual support, and passion in pursuing our hobbies. So, whether you are a seasoned kitesurfer, a wingfoil beginner, or simply someone who admires these sports from afar, remember that every session, every wave, and every flight has its own story. And who knows? Perhaps the next time you visit GlissEvolution, you'll have your own anecdote to share.

► Unlimited Budget:

While not everyone has this luxury, some riders are fortunate enough to have unlimited finances. They aren't constrained by budget, and they take full advantage of it. Since we only live once, they're absolutely right to ride with the gear they've always dreamed of. Honestly, who wouldn't do the same?

► Sponsored Budget:

Professional riders, high-level athletes, and those working in the kitesurf industry can receive financial backing from brands or organizations. This support ensures they have the necessary equipment to perform at the highest level in their sport.

When it comes to a sponsored budget, you have several options:

• Becoming a pro rider means you need a high skill level, consistent presence at competitions, and strong performance. This also involves travel and training expenses, plus the challenge of finding a brand to sponsor you.
• Having a sponsor or a company that can cover your equipment upgrades is another route. Alternatively, a business might allow you to expense your kite equipment as professional costs.

In short, sponsorship isn't an option for everyone.

► Renewal-Managed Budget:

This has always been my preferred approach. After making the initial investment with the purchase of your first pack, you upgrade it before it loses too much value from wear or the release of a new model. To do this, you need to avoid breakage to maximize its resale value. You'll obviously need to sell your gear yourself, as a trade-in at a shop will be less profitable. Shops are also more inclined to offer a discount if there's no trade-in involved. The upside is that you become a preferred customer at your shop. Of course, you'll always have to spend more at some point. But ultimately, the more you ride, the lower your average gear cost per session becomes.

► Parental Budget:

Parents can help their children fund their passion for kitesurf, wing, or wingfoil. This support can come in the form of gifts, loans, or co-financing.

To be honest, gear prices have skyrocketed over the past 20 years. As a student, I could save up, have a good season, and pick up a few odd jobs during holidays to afford my toys. Today, that's simply impossible.

At the shop, we've seen several types of PELs (Leisure Savings Plans) adjusted thanks to parental financing.

• There are birthday and Christmas gifts, often given as gift vouchers. This makes it easier to adjust purchases, because even if your retailer knows you well, a gift budget might not cover a new harness, bar, board, kite, or foil.
• 50/50 financing is a clever option! I think it encourages young people to work during the summer and not blow all their money at nightclubs. The more a young person saves, the more their PEL grows.
• My children buy my gear from me. I take a hit on the resale, but they get their toys and I get mine. I also know they're riding with good gear, so I'm not worried about their safety. They also handle reselling the old equipment. The more care they take, the better the resale will be, which teaches them responsibility at the same time.

► Couple's Negotiated Budget:

• It's certainly true that when you ride as a couple, negotiating your PEL is easier. You share the same passion, the same toys, and you aim to build a complementary quiver. At the shop, we often notice that women prefer to ride in winds below 25 knots, favoring enjoyable sessions in the sun. So, a couple's quiver doesn't always include very small kite sizes. This summer, with the strong winds, we saw several partners getting equipped with smaller sizes, and we realized that the husband had been waiting for that for a while. The strong winds of July and August made many people happy!
• When one partner doesn't ride, managing the PEL becomes more complicated. This brings us to a fundamental question: How are household finances managed?

We've seen some interesting situations at GlissEvolution; some of you will surely recognize yourselves!

-Shared household budget:

• There's a Leisure Savings Plan for one partner and an equivalent Pleasure Savings Plan allocated to the other.
• You'll owe me for it in restaurants, and I get to choose them.
• A budget is set, and we stick to it. Sometimes, for less than a hundred euros, we go back to negotiate... It's not easy having an accountant for a partner!

-Differentiated household budget:

• We're not married, so you do what you want.
• You could start paying me back what you owe me.
• Given what your ex is taking from you, get a D/LAB; at least she won't have that.

► Budget after divorce or health issues:

Yep, we've seen this at the shop before!

Divorce:

• I need to drain the accounts before she does. I managed to block the overdraft at the bank, but that's all I can do.
• Just got the alimony payment. No time to waste, order me those kites!

Health:

• Approve my quote; you only live once. After the scare I just had, I'm going to enjoy every moment.
• I hope this isn't my last session, but just in case, make it an SLS.
• You haven't been able to ride for a year. Treat yourself, honey! Get the one you really want. Stop just looking at the budget; besides, this one looks way better!

Yep, we're not all on the same page when it comes to managing our Leisure Savings Plan in our relationships!

► Hidden Budget:

Some riders prefer to keep their kitesurf, wing, or wingfoil spending under wraps from their partner or family. This can take many forms, like buying gear with cash or selling it off the books.

For this one, we're really hoping not to open Pandora's box.

Same story, we've definitely seen this at the shop!

• I've been riding the same red 12m², blue 9m², and yellow 7m² kites for four years. I bought spare kite bags and swap out my kites every year. Since the colors are identical, it's been smooth sailing! I sell my kites without telling anyone, pay the difference in cash, and that's the end of it. My partner is convinced I'm super careful, and replacing kites every four years seems perfectly reasonable to them.
• The trick is simple. Whenever I withdraw cash, say for a Sunday market, I pull out an extra €50. Month after month, that really adds up. When I announce the reduced renewal price, thanks to my hidden Leisure Savings Plan, the checkout process and credit card receipt go over much better. I even got the comment, "They must give you great deals at the shop, because your best friend's wife told me he spends way more than you. You know, you can treat yourself sometimes."

How to cut costs:

► Professional expenses:

Sponsor yourself

The first tip is to sponsor yourself. If your business has any connection to sports, tourism, leisure, or even communications, you could sponsor your own kitesurfing activities.

• How does it work?
  • Your company buys the gear and 'provides' it to you, the athlete, as a sponsor.
  • In return, your company gets visibility. This could be through a logo on your kite or a mention on your personal communication channels, like your website or social media.
  • The expenses your company incurs are then deductible, as they're considered advertising or sponsorship costs.

Invoices under €500

When it comes to accounting, some smaller expenses can be processed without much justification. If your purchase is less than €500, it's often easier to classify it as a general expense.

• Why €500?

  • This isn't a legal limit, but many accountants and businesses informally consider it a threshold. Expenses below this amount often receive less scrutiny.

• How to use it?

  • Split your purchases: instead of buying all your gear at once, consider buying spare parts or accessories separately.
  • Always keep justification: even for small amounts, it's always best to have a plausible reason. For example, if your company is in the communication sector, you could argue that kitesurfing is used for promotional photo shoots.

Beware of abuse

It's crucial to remember that any attempt to deduct professional expenses must be entirely legitimate. Claiming personal expenses as business costs without proper justification can be considered tax fraud. Always ensure that every expense you want to deduct is directly related to your company's activities and is reasonable.

► Work in the Industry:

Become a kite instructor or a shop salesperson. You'll score amazing deals and get to ride the school's or shop's kites, letting you test out a ton of models. Plus, your own gear stays fresh, and you'll make someone stoked when you sell it, because it'll still be like new!

Become an ambassador! An ambassador promotes the shop, guides riders searching for gear, and showcases the gear they ride, both on the beach and across social media. Being an ambassador also means joining a team, living the passion, and sharing it with others.

► Take Advantage of Sales:

Many brands and shops offer sale all year long. Keep an eye out for those sweet deals!

► Invest in Second-Hand Gear

You can find second-hand kitesurf, wing, or wingfoil gear in great condition. This saves you money without sacrificing quality. Just make sure you know how to check the gear before buying; going through a shop is always safer.

► Opt for Occasional Riding

If you don't kitesurf, wing, or wingfoil very often, consider renting gear or joining supervised sessions. This lets you enjoy your passion without investing in expensive equipment, and you'll always have the right kite size when you travel for holidays. The only downsides are availability, the condition of the gear, and that your favorite model might not always be on hand.

Conclusion:

There are many ways to manage your Leisure Savings Plan budget for kitesurf, wing, or wingfoil. The best solution depends on your personal circumstances. By following these tips, you can enjoy your passion without breaking the bank.

Most importantly, call us to chat! We'll always give you a personalized quote and match the best offer you find online.

Enough talk about money-let's meet at the spot for an epic session!