A good holiday is supposed to be a fun and relaxing experience for you and the children to enjoy. However, it’s hard to look forward to moments spent on the beach when you’re constantly wondering how you’re going to pay for it all. The weather is finally starting to change; Summer is (hopefully) just a couple of months away, and it’s around this time that many families across the country start thinking about how they can set aside some extra cash for a week or two away from it all – that’s if you haven’t already booked something.
We’re off on our holidays for a week next month and while it’s paid off we still have spending money to think about! Kids can be unpredictable when it comes to choosing activities, or perhaps you’ll fancy eating outside of your all inclusive resort one night, so it’s always nice to go away with a little extra in your pocket.
If you’re living on a budget but still want the opportunity to fly to lands far or near with the people you love, the following tips may just prove a big help toward making your dream holiday into a reality.
Open A Dedicated Savings Account
Want to make sure that you’re not spending your holiday money on anything but your dream destination? An easy way to get started is to open a dedicated savings account with your bank and set up a regular payment to come out of your wages each month. This is particularly good for people who struggle to show restraint when it comes to managing money.
While you can open an account with your current bank, it may be worth shopping around to see what’s available. Some savings accounts will offer more interest, others will pay you a bonus if you save regularly for a certain amount of months, either way it’s worth looking around rather than staying loyal.
I found that having a bank account down the other side of town to where my current account is also helps. It means I don’t have easy access to it and transferring money across can be a bit more difficult which can deter you from dipping into your savings. I also found that seeing the balance getting bigger every month spurred me on to save more!
Cut Down On Unnecessary Expenses
Usually saving for something new means looking at your monthly budget and figuring out what you can afford to cut back on. While you can’t stop paying your mortgage, rent or other compulsory bills, you might be able to cut back on things like takeaway nights and a big night out on the town with friends – at least for a few months. Trust me, it’s worth it!
While it’s hard to stop doing the things you enjoy, it’s important to remember that you will get the most amazing reward at the end when you’re finally able to book that holiday you and your family have been looking forward to. If you don’t want to give anything up, just budget for what you do want to do and save the rest.
Pick Up A Side Job
If your 9 to 5 isn’t paying quite enough to help you afford the holiday of your dreams, you could always look for a way to make extra cash elsewhere. Today, the rise of the ‘gig economy’ and flexible working solutions has meant that it’s easier than eve to get started with another job wherever you are. You can freelance online, pick up extra shifts at your existing job or pick up a small part-time evening contract.
If none of those things work for you, there’s always the opportunity to go through your loft/wardrobe/belongings to see if you can find anything work selling. Getting rid of things you don’t need is a great way to make some money and declutter!
Look For Cheaper Holiday Options
While you’re rushing around trying to gather as much extra money as possible for your holiday, it’s always a good idea to reduce the amount that you’re going to have to spend by looking for ways to save on travel and accommodation. Instead of going all inclusive you could opt for a self tailored package; think AirBNB, last minute flights and going on a whim!
On the other hand, if you regularly use credit cards, you could think about applying for one that rewards you with airline miles as rewards for spending. While you might not be able to use your points to pay for a holiday straight away, those miles will eventually come in handy.
Use Coupons/Vouchers To Cut Everyday Costs
Don’t underestimate the power of coupons and voucher codes when it comes to saving cash on your day to day expenses. With a little bit of time, care and attention, you might be surprised how much you can save on everything from your regular weekly food shop, to the price of holiday essentials for you and the kids.
If they’re not doing enough to fill out your holiday savings account, then remember to keep an eye out for other ways you can save. For instance, switching to a different gas or electricity provider could save you money every month that you could put towards the holiday. In fact, there’s no bad time to review your household outgoings and every little helps, right?
I’d love to know how you manage to save for your holiday(s) – especially with children! What are your go to methods?
*This is a collaborative post.