Tag: Holiday budget 2022

We all need to get away on holiday from time to time, but our finances don’t always agree. Whether you’re going abroad or staying in the UK, the costs quickly add up. If your budget is already stretched, you may think that you can’t afford a holiday this year, but that might not be the case. 

With a few simple changes to your spending habits and your holiday plans, you can make it a lot more affordable. Here are 8 tips on saving money for your summer holiday.

1. Set a budget

Having a strict budget in place is the most important thing you can do to save for your next holiday. Setting a clear budget to manage your spending will help you cut out waste, and that extra money can go straight into your holiday fund. 

You also need to set a budget for your holiday. This gives you a saving target to aim for, so you can work out exactly how much you need to save each month to afford the holiday. Be realistic when setting your budget so you can set money aside without missing any bill payments.

2. Consider an all-inclusive holiday

All-inclusive holidays can be a great option when you are on a tight budget. Your flights, accommodation, and most of your food and drink are paid for upfront, usually at a discount rate as they are a package deal. If you tend to overspend while on holiday, all-inclusive deals make it much easier to stick to a budget because you don’t need to buy much while you are there. Many all-inclusive packages also offer free places for young children.

3. Think about when you book

Booking your holiday too late can cost you more. Although last-minute deals can save money if you are flexible enough, you may get a better deal if you book early. Booking early gives you more choice about which dates you travel on, so you can book the cheapest ones before they fill up. You also have more time to save when you start as early as possible.

4. Clear your cookies on online booking sites

Cookies are small pieces of text that are sent by websites that you visit and stored on your computer. They contain information about what pages you looked at and other details about your activities on the website. When you revisit the same website, it will be changed to make your experience smoother and more useful. For example, this is how you get personalised recommendations when you visit a website because it has stored information about which products you looked at before.

When you view flights or hotels online, a record of that search is saved in your cookies. Next time you visit the site, it remembers that you have already looked at this page before. Some people believe that this has an impact in inflating the price of the available flights in your subsequent visits. Whilst it isn’t 100% clear whether or not this is the case, the theory is that by clearing your cookies before re-visiting online booking sites, you might get a lower price.

5. Make sure you are flexible with dates

Being flexible with dates and times can be very helpful if you want to save money on your holiday. Certain dates will be more expensive than others (school holidays, for example), and flight costs also vary depending on the time of day that you fly. If you are travelling with your family, you are limited to the school holidays, but you can still save money if you travel in the final weeks of the holidays. You could also consider a holiday during the half term rather than the summer holidays.

Flying late at night or very early in the morning is usually cheaper too. Although this does make travel arrangements more difficult, it may be worth it if you can save a lot of money.

6. Save £3 a day

Saving money can be quite daunting, but it’s more manageable when you break it down into small goals. The idea of saving £1,095 in a year sounds like a lot, but £3 a day is not that difficult. Think about some of the small purchases you make every day that you can cut out and you’ll soon be able to save money each day to put in your holiday fund.

7. Weigh your luggage beforehand

Airlines charge different fees depending on who you fly with and you can sometimes get caught out at the airport if your luggage is too heavy. You can avoid this if you weigh the luggage before you leave to make sure that you have not exceeded the weight limit. You can buy a set of suitcase scales to keep at home so you can avoid any additional charges in the future.

8. Ensure you get travel insurance

Travel insurance is a must but many people skip it because they are trying to cut costs. However, if something goes wrong while you are away you could be stuck with big medical bills or other fees to pay. You don’t have protection if your holiday is cancelled either, so you may lose all of the money. 

A travel insurance policy can be inexpensive and it can save you a lot of money in difficult situations. Before you take out a policy, check whether you already have one included with other financial services. Many bank accounts, for example, offer some coverage for travel. However, double-check what level of coverage you get because it may not be extensive enough. If you do take out another travel insurance policy, use a comparison site to find the most affordable deals.

These simple tips will help you save money and cut the costs of travel, so you can easily afford an amazing holiday. However, you may find yourself in a position where you are unable to save money because of mounting debts.

At Swift Debt Help, we can give you the advice you need to get your finances back on track. Get in touch today and we will discuss different debt relief options with you so you can regain control of your debts.