Summer is the ideal time to ditch your daily routine and head off on an exciting holiday to relax and perfect your tan, but finding the right deal at the right price can also be stressful, especially if your budget is tight. Here are some handy holiday money-saving suggestions to help you get the most out of your summer trip.
Set a budget
When organising your summer holiday, have a budget in mind, and don’t just think about the obvious costs like travel and accommodation. Work out how much you’re likely to fork out each day on food, drink and other expenses, as these can mount up quickly, adding to your overall holiday bill. Also, don’t forget to allow for essentials like travel insurance, currency exchange, duty free shopping and gift-buying and if you’re using a credit or debit card abroad, beware of possible steep charges.
Once you’ve determined the rough cost of your holiday, start saving as soon as you can, preferably 12 months or more ahead, to avoid putting pressure on yourself. If you and your partner put £100 a month each away for a year, you’ll have nearly £2.5k to put towards your break.
Avoid popular destinations
During the summer months, Brits flock in their droves to the likes of Spain, Italy and France, but there are other destinations just as pretty and warm to explore. Try a change of scene, visit the Alps, the German lakes or the beautiful Croatian coastline. Even better, why not stay in the UK and discover world-class beaches and stunning national parks in Wales, Cornwall and the Lake District?
Do your research
The sheer number of online travel providers means it’s easy to shop around to get a good deal. Compare prices, look at all the available deals and don’t be afraid to call them up and haggle. If you don’t have time for all that, there’s a number of comparison websites with access to hundreds of deals that will do the legwork for you.
The time and day you travel can add hundreds to your travel costs if you’re not careful. Picking very late or early flight times should save you a few pounds, as will travelling in the week rather than on the weekend. Tuesdays, for example, could save you around 11%1 on your fare. School holidays are definitely a time to avoid if you can help it, when holidays can cost two or three times more, although the last week of August and the first week of September can be slightly cheaper.
1: DailyStar, Nov. 2017 - https://www.dailystar.co.uk/travel/travel-news/658456/Cheap-flight-book-tickets-bargain-holidays
Get a place with a kitchen
Self-catering could save you serious cash on eating out if you’re willing to exercise your culinary skills during your break.
Make the most of free activities
Before going on your holiday, look for an events calendar for the area you’re heading to and tick all the free museums, festivals, sports events, or anything that takes your fancy. Of course, lying on the beach is usually free anyway, so if that’s your kind of holiday, you’re quids in!
Eat and drink with the locals
When it comes to food and drinks, avoid touristy places to get the most value for your money. Find out where the locals go, and you’ll find reasonable prices and a more authentic atmosphere. Be prepared to speak a little of the local lingo though to get by.
A typical getaway doesn’t usually require you to plan years in advance. However, going on your dream holiday, such as an around the world trip or a road trip across the US, could call for longer-term planning and investing could be a great way to help you make your big holiday a reality. Becoming an investor can be easy and doesn’t require you to be super wealthy. With digital investing platforms, like Wealthify, you can invest from as little as £1 and add more regularly, if you like. Meanwhile, investing experts build and manage your portfolio so you can relax and let your money work hard towards your dream holiday.
Please remember the value of your investments can go down as well as up, and you could get back less than invested.
Investing is for everyone.
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The comments and opinions expressed in this article are the author's own and should not be taken as financial advice from Wealthify.